Industrial drives UK Commercial Property REIT results

The UK Commercial Property REIT delivered a total return of 4.7% during the half-year to June as the result of its “above benchmark” exposure to the industrial sector.  The IPD benchmark return for the period was 4%.  The £1.4bn portfolio, managed by Aberdeen Standard Investments, is 93% occupied and invested across UK commercial property.   Andrew Wilson, chairman, said: “The successful conversion to a REIT at the start of July is an important milestone for the business, making it one of the larger diversified REITs in the sector.   “With a high-quality portfolio of assets located throughout the UK, a strong balance sheet and the lowest gearing among the company’s peer group, UKCP REIT is well positioned to add value to its property portfolio and enhance returns for its shareholders.”   To send feedback, e-mail alex.peace@egi.co.uk or tweet @EGAlexPeace or @estatesgazette