AEW UK REIT sells U.K. industrial properties

AEW UK REIT (AEWU) has sold two industrial assets in England for £16.7 million ($19.5 million).

Totaling 278,428 square feet, the assets include units 16 and 16A of Langthwaite Industrial Estate in South Kirkby, and Wella Warehouse in Basingstoke. The sites are situated in strong regional locations.

“The two assets in South Kirkby and Basingstoke have performed well and delivered excellent returns to AEWU shareholders over the last few years, as AEWU has enjoyed the benefits of an overall heavy weighting towards the industrial sector,” said Alex Short, portfolio manager of AEW UK REIT. “The value of the properties has climbed significantly, and we believe now is the time to realize this profit and reinvest the proceeds into new exciting opportunities that we are seeing in the market.”