NAV total return of 2.8% in six month period to 30 June 2013, underpinned by strong income return from the portfolio; · Robust share price performance with a total return of 20.2% in the period, ahead of the IPD benchmark, FTSE REITs Index and also FTSE All-Share Index; · Consistent longer term outperformance with 5 year share price and NAV total return both comfortably ahead of the IPD benchmark; · Gross gearing of 21.6% continues to be the lowest in the Company's peer group; · Attractive dividend yield of 6.9%, underpinned by quality portfolio of diversified properties and significantly above that of the FTSE REIT Index (3.7%) and the FTSE All-Share Index (3.5%
21 Aug '13
chairman - "The strong results reported today reflect not only the high quality nature of our portfolio and the active asset management undertaken by our team of experienced managers, but also a broader improvement in sentiment across the UK economy and real estate sector, and signs of enhanced occupier demand. Having delivered resilient performances during the very challenging economic conditions of recent years, UKCPT is now well positioned to benefit from an improving market. We will continue to focus on maximising income and valuation across the portfolio, while identifying acquisitions which we believe will support our strategy."
21 Aug '13
chairman - The six months to 30 June 2013 produced the strongest results for UK Commercial Property Trust in two years, with positive returns on both a Net Asset Value and share price basis. The Company's core strategy continues to be investment in carefully chosen assets with a strong rental profile that can also offer valuation growth, as well as continuing the determined focus on implementing successful asset management initiatives across the portfolio. This has been and continues to be the key driver of both income and capital values.
15 Feb '13
UK Commercial Property Trust: Liberum Capital begins coverage with a target price of 68p and a hold recommendation.
20 Feb '12
Christopher Hill, Chairman of UKCPT, commented: "This transaction fits well with our strategy of acquiring good quality assets that, particularly in these uncertain economic times, both complement our existing portfolio and offer strong, defensive income characteristics. This portfolio is also attractive as it offers us the potential to grow value through the application of our disciplined and focussed approach to asset management. "The new financing facility that we agreed with Barclays last year provides us with comfortable headroom to make acquisitions when we find an attractive opportunity such as this, and we continue to look for transactions to grow and enhance our portfolio further." UKCPT was represented by GVA and JLL represented SEGRO plc in the transaction.
20 Feb '12
Acquisition of Industrial Park Portfolio from SEGRO for £60.51m UK Commercial Property Trust Limited, managed by Ignis Asset Management, announces that it has acquired a portfolio of three multi-let principally industrial park assets from SEGRO plc for a total consideration of £60.51m, reflecting a net initial yield of 7.34%. The three sites provide a combined total floor area of 549,413 sq ft and a total income of £4.67m per annum. The occupancy rate across all three estates is approximately 98%, with units let to a mix institutional grade tenants including Smiths News Trading, UPS Ltd and Volkswagen Group UK Ltd. The average weighted lease length across the portfolio is nine years and one month. The transaction will be financed primarily through the use of part of the £150m facility agreed with Barclays Bank Plc in May 2011. The acquisition provides UKCPT with greater exposure to multi-let industrial assets, consistent with one of the Company's strategic aims. The Company also believes that there is the potential for income and value growth through active asset management. The portfolio comprises: § Emerald Park East, Emersons Green, Bristol - a modern industrial estate developed between 2000 and 2004, located close to Junction 19 of the M4, to the north of Bristol.The estate currently generates income of £1.71m per annum from 235,635 sq ft across 17 units, let to tenants including Knorr Bremse Systems, Sungard Availability Services and Smiths News Trading Ltd. Average unexpired lease length is four years three months to breaks (eight years six months to expiry). § Gatwick Gate Industrial Estate, Crawley - A mid 1980`s industrial estate located on Charlwood Road, to the immediate south of Gatwick Airport. The estate generates income of £1.11m per annum from 144,944 sq ft of space across nine units, let to tenants including Signet Group Ltd and Cooper Callas Ltd. Average unexpired lease length is five years to expiry and break. § Motor Park, Eastern Road, Portsmouth -This group of car showrooms representing the principal automotive dealership location in the Portsmouth area, offers brands including Mercedes-Benz, Audi, BMW, Volkswagen, Mini, Chrysler and Jeep. The park generates income of £1.84m per annum from 162,661 sq ft of space across ten units, let to tenants including Volkswagen Group UK Ltd, Pentagon Ltd and Affinion International. Average unexpired lease length is 12 years two months to break (twelve years nine months to expiry).
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