Schroder REIT continues to deliver growth

Schroder Real Estate Investment Trust has reported a 5.3% increase in underlying EPRA earnings to £13.8m for the year ended 31 March. The UK REIT posted profit for the year of £22.8m and a net asset value total return of 7.2%. During the period it reduced the portfolio’s void rate to 6% from 9% a year earlier. It also increased the average unexpired lease term across its portfolio to 7.4 years. Lorraine Baldry, chairman of the board, said: “Despite the uncertain political and economic backdrop, investor demand for good quality UK real estate has proved resilient, while loose monetary policy and low levels of new development in many markets should continue to support valuations. We believe that our disciplined strategy to invest in winning cities in order to reduce risk means that the company is well positioned to deliver sustainable longer term returns for its shareholders.” Duncan Owen, global head of Schroder Real Estate Investment Management, added: “The company’s focus of investing in winning cities, adding value through asset management and reducing portfolio risk alongside low borrowing levels, means it is well placed to continue to  deliver  its strategic objectives in this more uncertain environment.” To send feedback, e-mail amber.rolt@egi.co.uk or tweet @AmberRoltEG or @estatesgazette