UK Commercial Property REIT is a FTSE 250 Real Estate Investment Trust listed on the London Stock Exchange. It aims to provide shareholders with an attractive level of income together with the potential for capital and income growth from investing in and managing a £1.21 billion (as at 31 December 2020) diversified portfolio. The portfolio has a strong bias towards prime, institutional quality properties and is diversified by location and sector across the UK. The Company is managed and advised by Standard Life Investments (Corporate Funds) Limited (the Company s appointed AIFM). Will Fulton, a qualified Chartered Surveyor with 30 years of experience in the industry, has been Lead Manager since April 2015. Investors should refer to the Key Information Document prior to making an investment decision.
UK Commercial Property REIT Buys Asda Store And Forward Funds Lodgings
Tue, 22nd Dec 2020 09:32
(Alliance News) - UK Commercial Property REIT Ltd on Tuesday announced the acquisition of an Asda Stores Ltd supermarket in Torquay, Devon and the forward funding of a student accommodation in Edinburgh.
The FTSE 250-listed real estate investment trust based in London acquired the Asda store from Aviva Investors, part of London-based insurer Aviva PLC for GBP16.6 million. This represents a net initial yield of 4.7%, which will rise to 5.2% in July 2021. It is let to Asda on a 15 years and six moths lease, it said.
UK Commercial Property REIT also has agreed to forward fund a new 230-bed student accommodation development in Edinburgh for GBP29.1 million. The land purchase is expected to complete in February 2021, with construction due to finish in time for the 2022 to 2023 academic year.