Ukreiif

Alternative Income REIT PLC (AIRE), known for its diversified UK commercial property assets, recently announced the acquisition of the Virgin Active leisure club in Streatham, South-West London. The purchase, amounting to £5.1 million, represents a net initial yield of 9.8% and offers a cost advantage compared to building anew.

This strategic move utilises the bulk of funds from AIRE’s recent sale of the Mercure Hotel in Glasgow, which garnered £7.5 million. The company plans further investments with the remaining capital in the first quarter of 2024.

Alternative Income REIT PLC (AIRE), known for its diversified UK commercial property assets, recently announced the acquisition of the Virgin Active leisure club in Streatham, South-West London. The purchase, amounting to £5.1 million, represents a net initial yield of 9.8% and offers a cost advantage compared to building anew.

This strategic move utilises the bulk of funds from AIRE’s recent sale of the Mercure Hotel in Glasgow, which garnered £7.5 million. The company plans further investments with the remaining capital in the first quarter of 2024.