Investors
Value creation
Investment case
We operate in a growth market with significant opportunities for long-term value creation through active asset management and development. This drives rental income and supports values, delivering attractive, sustainable returns for our shareholders.
Compelling, long-term market trends
Occupier demand is underpinned by strong and enduring structural themes including the growth of e-commerce and supply chain resilience which have accelerated due to the pandemic, Brexit and the war in Ukraine. Location is key for occupiers and supply of the right type of space in economically attractive places is constrained due to planning restrictions. Together, these dynamics support long-term rental growth.
Attractive and resilient portfolio
Our portfolio is primarily focused on multi-let assets where we have the flexibility to attract a wider mix of occupiers to create enhanced performance through asset management. Our assets are close to urban centres and major transport routes and we have a significant presence in key industrial hubs in the Midlands, North West and the Arc centred on Milton Keynes.
Total returns focused strategy
We target an average total accounting return of at least 10.0% per annum through a combination of dividends and NAV growth (average of 10.8% since IPO). We drive like-for-like income growth through active asset management across our portfolio, which is highly reversionary. We deliver future income growth through the selective development of opportunities we have created, and these activities support long-term value creation.
Sound financial position
Our LTV is at the lower end of our range at 33.9% and we benefit from a range of funding sources and significant headroom to our covenants, providing the flexibility to pursue opportunities in the market and on our portfolio to drive returns.
Experienced management team
We have an experienced Board and a highly knowledgeable Investment Advisor in Tilstone, which gives us a deep understanding of the sector and a wide network of industry contacts through which we can source investments.
Key performance indicators
We use the following key performance indicators (“KPIs”) to monitor our performance and strategic progress.