LONDON (Alliance News) - F&C Commercial Property Trust Ltd on Monday said its net asset value declined slightly in the final quarter of 2018.
The investment company reported NAV per share at the end of December 2018 of 139.8 pence, down 1.4% from 141.8p reported at the end of September 2018.
The share price at the end of the period stood at 124.60p, representing an 11% discount to NAV. The share price total return for the quarter was negative 9.7%.
F&C Commercial Property Trust shares were trading 0.3% higher on the day Monday at 127.99p each.
The capital value of the portfolio decreased by 0.7% over the quarter to GBP1.43 billion, the company noted, as it sold Building B, Watchmoor Park, Camberley properties.
The company said the industrial and distribution sectors have continued to drive the UK property
market, but alternatives and many of the office sub-markets also out-performed.
Looking ahead, the company said it expects standard industrials and distribution to continue driving the market in 2019, helped by the growth of e-commerce. The trust also highlighted that it currently has a number of lettings under advanced negotiation.