Commercial property investor Regional REIT (RGL) announced a sixth acquisition in a week on Wednesday and more are expected thanks to its £40 million war chest.

Shares moved 2.3% higher to 103.8p on news of an office building in Basingstoke becoming latest addition to its portfolio following a £3 million deal.

The real estate investment trust floated on 6 November and will use the remaining proceeds from the £80 million raised in the initial public offering (IPO) to buy office and industrial properties located outside of the M25.

Web - Regional REIT - 06 Jan 2016

The Basingstoke property will generate 12.48% of the purchase price in rent each year, or £396,000, until 2020 when its lease expires.

Regional REIT agreed to buy five properties at the end of last month (30 Dec) for £37.5 million, which will take the number of assets in its portfolio to 134 if the deal closes when expected at the end of the month.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.

Issue Date: 06 Jan 2016