Urban Logistics REIT (“ULR”) has converted further pipeline with five new development assets across two sites in the Midlands secured for £23m GDC at 6.12% yield. Completion is not expected until late 2022/early 2023. This follows the acquisition of a distribution asset in Droitwich earlier this week (1/3) for £5.4m. This prompts no change to forecasts as we expect all capital to be deployed by Mar-21 year end. ULR trades at an attractive 3% discount to NAV with a 6% dividend yield – both FY22e, ....
