We operate in a compelling market, which offers significant opportunities for value creation.

We operate in a compelling market and have significant opportunities for value creation.

Strong occupier demand

Urban warehouses are critical to a wide range of businesses, from small manufacturers to major multi-national businesses. The rapid growth in e-commerce is a key driver of demand for space, increasing competition for available units.

Constrained supply

Despite strong demand there is little supply of space, as capital values in the small and medium sized warehouse sector are generally well below replacement cost, making it uneconomic to develop new assets.

Growing income

Strong demand, constrained supply and active asset management are feeding through to robust rental growth. At the same time, our well-diversified portfolio, by tenant base, average lease length and geographical exposure, reduces risk and gives us a sustainable income stream.

Top management

We have an experienced Board and a highly knowledgeable Investment Advisor, with a deep understanding of the sector and a wide-ranging network of industry contacts.

Attractive pipeline

We see good opportunities to acquire further assets at below their replacement value, while further diversifying our income and strengthening the portfolio’s sustainability, quality and growth prospects.

Progressive dividends and strong returns

Robust revenues and low costs allow us to reward shareholders through attractive and progressive dividends. These dividends, along with capital growth, contribute to a total return target of at least 10% per annum.