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BRIEF-LXI REIT says to buy properties at Needham Market,Suffolk for 5 mln stg​
July 21, 2017 / 6:30 AM / 4 months ago

BRIEF-LXI REIT says to buy properties at Needham Market,Suffolk for 5 mln stg​

July 21 (Reuters) - LXI REIT Plc:

* Exchanged contracts to acquire Travelodge Hotel, Burger King, Little Chef Restaurants at Needham Market Service Station, Ipswich, Suffolk​

* Says ‍purchase price for property is £5.0 million,​

* Says ‍purchase pric reflecting a net initial yield of 6.12 pct on asset acquisition​

* Lease has unexpired term of over 20 years without break, subject to 5 yearly upward only rent reviews index-linked to retail prices index​

* Says ‍acquisition is being funded from equity resources, with senior debt finance to be introduced in near term​ Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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