AEW UK Real Return Fund (AEW) – a UKREiiF attendee – has bought two wholesale warehouses, in Barnsley and Leicester, in an £8m deal.

The sites are let to Booker, the UK’s largest food wholesale operator. The Leicester unit stretches to 55,634 sq ft, while the Barnsley facility coverage almost 87,000 sq ft.

Edward Long, director, AEW UK Real Return Fund, said: “We are pleased to have acquired the two assets that deliver a combined yield of 7%, while also increasing our exposure to the UK industrial sector. In the competitive industrial market, the properties have been acquired below replacement cost and are let off low affordable rents providing an attractive level of high income and potential for growth which is accretive to our portfolio.”

The agent representing AEW was David Kos of Lewis Ellis.