Regional REIT announces three new acquisitions

Regional REIT announces three new acquisitions

Regional REIT, the office and industrial property-focused real estate investment trust, has announced it has acquired three office properties across the UK, with the support of a £19m facility from Royal Bank of Scotland’s Real Estate Finance team.

The regional acquisitions, which span across more than 197,000 sq. ft. in total, include the 39,314 sq. ft. Vantage Point office accommodation located in the Edinburgh Park business area.

The trust has also purchased the 58,897 sq. ft. Turnford Place office development located on Great Cambridge Road in Cheshunt, and eight units within the 99,613 sq. ft. Genesis Business Park in Woking.

Stephen Inglis, chief executive officer of London & Scottish Investments, the Asset Manager of Regional REIT, said: “Since listing in 2015, Regional REIT has established a strong track record in the real estate market. These acquisitions will allow the REIT to further build on that momentum, and respond to the ongoing demand from the market for attractive space at good value for occupiers. Once again, we are grateful for Royal Bank of Scotland’s support, and for the way they executed the transaction with professionalism and at considerable pace.”

Jamie Drummond, relationship lead at Royal Bank of Scotland Real Estate Finance, said: “The strength of Regional REIT’s management team has allowed it to establish itself strongly in the UK real estate market. We are delighted to be able to provide further support, and very much look forward to continuing to work with the team as they execute their strategy of delivering quality, sustainable growth in the business.”