September 2017

  • Oversubscribed IPO raised net proceeds of £146.8 million
  • Seed portfolio acquired for £108.9 million. Acquired from Tilstone Partners, which was founded in 2013
  • Four multi-let industrial estates acquired for £26.3 million

November 2017

  • Three industrial assets acquired for £5.3 million
  • Bank facilities refinanced and increased to £65.0 million

December 2017

  • Plymouth warehouse acquired for £4.3 million
  • Seven-asset industrial portfolio acquired for £18.3 million

January 2018

  • Interim dividend of 1.0 pence per share declared

March 2018

  • IMPT multi-let warehouse portfolio acquired for £116.0 million
  • Enlarged debt facilities of £135.0 million on improved terms, drawn to £124.5m
  • Period-end revaluation gain of £12.1 million against purchase price

September 2018

  • Sold four assets for £19.0 million, reflecting an average net initial yield of 5.1% and a 27% premium to 31 March 2018 book values
  • Acquired Burntbroom Court, Glasgow adjacent to existing 55-acre site at Queenslie for £2.4 million, a NIY of 8.0%
  • Portfolio valuation of £284.3m (after disposals)