1 FTSE 100 share (and 2 FTSE 250 shares) that I would buy right away!

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I seek the best FTSE100 and FTSE250 bargains to buy during this bear market. Here are three that I think have recently been oversold.

Urban Logistics REIT

Urban Logistics REIT (LSE: SHED) plays a major role in getting goods to online shoppers. The company operates large distribution spaces and, more specifically, in the “last mile” of a package’s journey from retailer, manufacturer and courier to customer.

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I think this FTSE 250 business could thrive as online shopping grows steadily. The supply of warehousing and logistics space has lately not kept up with demand. The current development pipeline suggests that this shortfall is also likely to persist for years, meaning that the rents City Logistics can charge should continue to grow robustly.

Currently, the company offers excellent overall value. It trades on a price-to-earnings growth (PEG) ratio of 0.5 and has a dividend yield of 5.4%.

I think Urban Logistics is a top buy even if its thirst for acquisitions carries significant risks. A facility might not attract tenants if, for example, it is ultimately deemed to be in an unfavorable location.

Related British Foods

I think growth in value retail and e-commerce could boost profits at Related British Foods (LSE: ABF) soon.

This clothing segment is experiencing strong expansion and the company ABF Primark is a leading player here. And the industry looks poised for longer-term growth as consumers become more careful with their money.

I was worried about how Primark’s lack of online presence might hurt its profit opportunities. So the news this week that the apparel and lifestyle retailer will start testing click-and-collect has improved my feelings towards the stock. It could be a game-changer in the brand’s battle against rivals like ASOS.

I would buy Associated British Foods, listed on the FTSE 100, despite the headwinds created by rising costs. Rising costs for raw materials, labour, energy and freight represent a short-term danger.

centamine

Gold mining stocks like centamine (LSE: CEY) tend to rise in value when times are tough. The eternal appeal of the sentimental metal makes gold the ultimate flight-to-safety asset – and, by extension, the producers of the stuff – for many investors.

The fall in the price of gold in 2022, however, shows that demand does not always explode in difficult times. This time around, the surging US dollar and extreme central bank rate hikes have hurt interest in the commodity.

However, I think bullion and bullion producers could rebound strongly in price before too long. And that makes FTSE 250-listed Centamin a great buy right now. Inflation continues to soar despite aggressive central bank action.

Meanwhile, key economic indicators increasingly point to a sharp economic slowdown. I think gold could come back towards the highs recorded during the summer of 2020.

Today, Centamin trades on a price/earnings (P/E) multiple of around 10 times. Its dividend yield is 5.8%. These numbers reinforce the company as a great downside buy, in my opinion.