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AEW UK REIT plc: Result of legal proceedings

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AEW UK REIT plc (AEWU)
23-Apr-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

23 April 2021 
 
AEW UK REIT Plc (the "Company") 
 
Result of legal proceedings 
 

AEW UK REIT plc (LSE: AEWU) (the "Company") is pleased to announce the successful outcome of its legal action against two well-funded national tenants to recover unpaid rent. The court ruled in the Company's favour and ordered that rent due for the periods claimed must be paid.

The total amount to be recovered pursuant to the legal action is £602,489. In addition, the Company will be writing to the tenants to claim the outstanding rent arrears that have fallen due for payment since the claims were issued and are confident of further recovery given the outcome of its successful application to the court.

It is also the Company's intention to seek to recover its legal fees incurred in the litigation from the tenants.

The combined total of the amount already claimed and the outstanding rent arrears that have fallen due for payment since the claims commenced is £1,200,566, including VAT. Of this amount, £924,530 relates to the period up to 31 March 2021, 56% (£520,919) of which has been provided for as at that date.

The expected receipt of the outstanding amounts that have previously been provided for will contribute to the Company's EPRA EPS.  

AEWU has always made it clear that it will take legal action against tenants if required, particularly well-resourced companies that it believes are able to pay their rent and have sought to take advantage of government legislation intended to protect financially vulnerable tenants. Both tenants have a limited time period during which they may submit an appeal.  
 
ENDS  

 

Enquiries 

 

AEW UK 

 

Alex Short 

alex.short@eu.aew.com 

 

+44(0) 20 7016 4848 

Henry Butt 

henry.butt@eu.aew.com 
+44(0) 20 7016 4855

Nicki Gladstone 

nicki.gladstone-ext@eu.aew.com 

 

+44(0) 7711 401 021  


Company Secretary 

 

Link Company Matters Limited 

aewu.cosec@linkgroup.co.uk 

 

+44(0) 1392 477 500 

 

 

TB Cardew 

AEW@tbcardew.com 

Ed Orlebar 
Tania Wild 

+44 (0) 7738 724 630 
+44 (0) 7425 536 903 

Lucas Bramwell 

+44 (0) 7939 694 437 

 

 

Liberum Capital 

 

Gillian Martin / Owen Matthews 

+44 (0) 20 3100 2000 

 
 
 LEI: 21380073LDXHV2LP5K50
 
 


ISIN:

GB00BWD24154

Category Code:

MSCM

TIDM:

AEWU

LEI Code:

21380073LDXHV2LP5K50

Sequence No.:

100619

EQS News ID:

1187871


 

End of Announcement

EQS News Service

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