Acquisition

To: RNS
From: Drum Income Plus REIT plc
Date: 19 July 2016

Drum Income Plus REIT plc

("Drum" or "the Company")

Purchase of Property

Drum announces the acquisition of 3 Lochside Way, Edinburgh Park, Edinburgh, for a consideration of £4.5 million.

3 Lochside Way is a 24,000 sq ft Grade A office prominently situated on Central Scotland's premier business park with Lockheed Martin, Exception and GL Industrial Services as key tenants.  The purchase price reflects a yield of 8.5%.

DRIP REIT has now completed acquisitions valued at £45.7 million, (with a further committed transaction for £2.6 million currently subject to shareholder approval), since it was listed on the Official List of the UK Listing Authority and admitted to trading on the Main Market of the London Stock Exchange on 29 May 2015, raising gross proceeds of £31.9 million. An additional £2.8 million was raised as an Initial Placing following the publication of a new prospectus in February 2016. The subsequent 12-month placing programme closes in March 2017. 

Welcoming the acquisition of 3 Lochside Way, DRIP REIT's Chairman, John Evans said:

"The acquisition of Lochside demonstrates DRIP REIT is continuing to identify property that delivers on our differentiated investment strategy of assets of between £2m and £15m in strong regional locations with opportunities to increase value.

"Our experienced team is focused on the delivery of an asset management strategy that will drive rental growth and maximise additional income opportunities, offering investors an attractive blend of income return and capital growth."

ends

For further information please contact:

For more information on the Drum Income Plus REIT, visit: www.dripreit.co.uk