ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

UKCM Uk Commercial Property Reit Limited

69.60
0.20 (0.29%)
Last Updated: 08:00:52
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Uk Commercial Property Reit Limited LSE:UKCM London Ordinary Share GB00B19Z2J52 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.20 0.29% 69.60 69.10 69.80 69.60 69.50 69.60 24,092 08:00:52
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 73.38M -222.33M -0.1711 -4.04 897.89M

UK Commercial Property REIT Ltd UKCM reduces void by 35.2% with logistics letting (3956Y)

09/09/2020 7:00am

UK Regulatory


Uk Commercial Property R... (LSE:UKCM)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Uk Commercial Property R... Charts.

TIDMUKCM

RNS Number : 3956Y

UK Commercial Property REIT Ltd

09 September 2020

UK Commercial Property REIT Limited

UKCM reduces void by 35.2% with logistics letting at Magna Park, Lutterworth

9 September 2020: UK Commercial Property REIT Limited ("UKCM" or the "Company") (FTSE 250, LSE: UKCM), which is managed and advised by Aberdeen Standard Investments* and owns a diversified portfolio of high quality income-producing UK commercial property, announces that it has fully let its 377,070 sq ft XDOCK377 logistics unit at Magna Park in Lutterworth to Armstrong Logistics, a pan-European distribution company. As a result of the lease, UKCM's portfolio void rate by ERV has reduced to 6.5% from 10% at the 30 June 2020.

Armstrong Logistics has signed a 15.5-year lease with open market rent reviews at GBP6.50 per sq ft, in line with ERV, which will add a further GBP2.45 million of annualised income to the Company's rent roll after incentives.

Armstrong Logistics is an approved UK logistics partner to ALDI, delivering around one third of the ambient goods on ALDI's store shelves and working with over 100 of ALDI's key suppliers across the world. It already operates from another unit in Magna Park and the occupation of XDOCK377 is essential to Armstrong Logistics' business in order to satisfy continued growth in ALDI's UK business.

XDOCK377 is a fully refurbished Grade A cross-dock distribution warehouse located in Magna Park, which is the largest dedicated distribution park in Europe. Situated in the heart of the Golden Triangle, Magna Park provides access to 85% of the UK population within a 4.5 hour HGV drive due to its close proximity to the M1, M6 and M69. Other occupiers at the site include DHL, Asda, Wayfair, Lidl and Eddie Stobart.

Will Fulton, Lead Manager of UKCM at Aberdeen Standard Investments, said : "This is a highly significant letting for UKCM in that it reduces the Company's void rate by some 35% and will deliver reliable long term income to our investors from a highly reputable counter party that is the key logistics partner to one of Europe's most prolific retail success stories."

UKCM was advised by CBRE, Savills and Burbage Realty.

ENDS

For further information please contact:

Richard Sunderland / Claire Turvey / Eve Kirmatzis/ Andrew Davis, FTI Consulting

Tel: 020 3727 1000

Email: ukcm@fticonsulting.com

Notes to Editors - UK Commercial Property REIT

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 GBP1.219bn (as at 30 June 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.

Further information on the Company's investment policies, the types of assets in which the Company may invest, the markets in which it invests, borrowing limits as well as details of its management, administration and depositary arrangements can be found in the Company's Annual Report and Investor Disclosure Document. The above documents are available on the Company's website www.UKCPREIT.com. Paper copies of these documents are available on request, free of charge, via the contact details outlined on the website.

Property is a relatively illiquid asset class, the valuation of which is a matter of opinion. There is no recognised market for property and there can be delays in realising the value of property assets. Investors should be aware that past performance is not a guide to future results. The value of investments, and the income from them, can go down as well as up, and an investor may get back less than the amount invested.

For further information on UK Commercial Property REIT, please visit www.UKCPREIT.com .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCEAXNPEAFEEFA

(END) Dow Jones Newswires

September 09, 2020 02:00 ET (06:00 GMT)

1 Year Uk Commercial Property R... Chart

1 Year Uk Commercial Property R... Chart

1 Month Uk Commercial Property R... Chart

1 Month Uk Commercial Property R... Chart

Your Recent History

Delayed Upgrade Clock