Income-focused UK-REIT RDI said it had completed the acquisition of Southwood Business Park, a nine-acre industrial estate in Farnborough, for a total consideration of £26.3m.

"This acquisition provides us with an increased exposure to the strong performing South East industrial market, whilst achieving an attractive near-term yield of 6.2% in a competitive investment climate," said Mike Watters, Chief Executive.

The asset, which is in an area with a strong track record of high occupancy and limited available space elsewhere, is currently 91.9% occupied. It produces net income of £1.75 million with average rents of £12.90 per sqft.

The investment was in line with RDI's stated strategy to increase its exposure to assets underpinned by strong demographics and occupier demand supported by structural change.

At 9:57am: (LON:RDI) RDI REIT PLC share price was -0.05p at 32.6p