Under the lease, the tenant is responsible for building maintenance and the rent has inflation-linked adjustments, reflecting an initial yield of 8.3% per year.
"This acquisition offers the company the potential to benefit from a long term, predictable, inflation-linked income stream whilst contributing additional diversification to ART's portfolio. In addition, the investment offers the potential for associated capital growth," ART says.
Current stock price: 120.00 pence
12-month change: down 21%
By Heather Rydings, Alliance News senior economics reporter
