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Roadside Real Estate plc
("Roadside" or the "Company")
Second joint venture acquisition
Roadside, (AIM: ROAD) is pleased to announce that its joint venture with Meadow Partners LLP, ("Meadow") to acquire and develop a portfolio of UK-based Roadside Real Estate assets, (the "JV") has completed its second acquisition, (the "Acquisition").
The JV has acquired an asset in Gosport for a total cost of £[2.83] million. The Acquisition will be funded in line with the principal terms of the JV's equity commitments, whereby Meadow will own and fund 97% of the JV while Roadside will own and fund 3%.
The site features:
· A 12,540 sq ft. unit let to Farmfoods Limited at a rent of £156,750 per annum. The lease has approximately 14.5 years remaining with open market reviews and no breaks; and
· A 0.42 acre plot adjacent to the Farmfoods unit with potential to develop a new Drive Thru unit with EV charging bays.
Charles Dickson, Executive Chairman, said:
"We're willing to consider a variety of sites when evaluating acquisitions and Gosport is a good example of a site where we can develop assets to deliver greater returns for investors. We are pleased to have completed this acquisition not least because it offers scope for much-needed EV charging infrastructure."
The JV has a prospective roadside real estate investment pipeline in excess of £150 million, which we are confident will attract high-quality nationwide tenants, underpinning reliable, long term income streams. The JV is in ongoing negotiation on a number of further site acquisitions as it works to deploy the JV's equity commitment in assets that deliver sustainable returns for investors and valuable amenities to local communities.
- Ends -
Enquiries:
Roadside Real Estate plc Charles Dickson, Executive Chairman
| c/o Montfort
|
Cavendish Capital Markets Limited (Nomad and Joint Corporate Broker) Carl Holmes / Simon Hicks / Fergus Sullivan (Corporate Finance) Tim Redfern (ECM)
| +44 (0)20 7220 0500 |
Stifel Nicolaus Europe Limited (Financial Adviser and Joint Corporate Broker) Mark Young Jonathan Wilkes-Green Catriona Neville
| +44 (0)20 7710 7600 |
Montfort Olly Scott Georgia Colkin
|
+44 (0)78 1234 5205 +44 (0)75 4284 6844 |
About Roadside
Roadside is a real estate business focused on building and scaling a high-quality portfolio of modern roadside retail assets, including modern EV charging infrastructure.
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