Amazon.com magazine was bought by Mormons for £74 million
The Church of Jesus Christ of Latter-day Saints investment firm has bought an Amazon.com store in Wembley for £74m, the Evening Standard reports.
Wembley180 Warehouse, over 17,000 square feet. square metres, was sold to UKCommercial Property REIT (UKCM), which had owned the property since 2009. He revealed that the price he received reflects 3.49 percent. net profitability.
Wembley180 has been acquired by Covent Garden IP, registered as a charitable company with the aim of promoting and supporting the activities of The Church of Jesus Christ of Latter-day Saints in the United Kingdom. In 2021, the company had $5.6 million in investment income, mostly from rents. At the end of the same year, she owned real estate worth around £100 million.
The investment portfolio of the US-based Church of Jesus Christ of Latter-day Saints was valued at $44.8 billion at the end of 2022, the Evening Standard writes.
Signed: Marek Drew, Evening Standard