Real estate investment specialists Regional REIT, part of London & Scottish Property Investment Management, announced today it has bought six office assets for a total price of £25.9 million.

The assets include six offices located in Birmingham, Bristol, Cardiff, Chester, Glasgow and Manchester and cover a total of 172,442 square feet. The offices are expected to provide a net income of £2.36 million per year from 27 tenants, which is equivalent to a yield of 8.87 percent with an anticipated reversionary yield of 9.54 percent.

The portfolio’s weighted unexpired lease term is 4.9 years while the tenant profile is deliberately diversified across industry and geography aimed at having no crossover with existing Regional REIT clients.

Stephen Inglis, CEO of London & Scottish Property Investment Management, the Asset Manager, said in a statement: “We are delighted to have secured this portfolio of assets which is both earnings accretive and will further enhance the diversity and scale of our property portfolio.

“There continues to be a significant pipeline of attractive near-term investment opportunities across the UK, for which Regional REIT can utilise its asset management experience and capital resources to provide sector-leading returns for shareholders.

“We look forward to announcing further accretive acquisitions as we invest the proceeds from our recent successful equity raise, taking advantage of the strong opportunities that we are seeing in our markets.”

London & Scottish Investments was formed in 2012 to concentrate, primarily, on asset and property management opportunities across the UK.