UK Commercial Property Trust posted a 2.5% net asset value total return for the three months to 31 March.
The FTSE 250 investor, advised by Standard Life Investments, has reported that NAV per share rose to 87.4p, from 86.2p at the end of December. Its like-for-like portfolio capital value increased by 1.6% during the quarter.
It added £1.3m to its annual rental income and it agreed seven new leases and nine lease renewals in the period.
It has £71m of cash available for investment along with an undrawn £50m revolving credit facility.
Andrew Wilson, chairman, said: “The company’s £1.3bn commercial and industrial portfolio is both well located and well tenanted with a minimal amount of unlet accommodation. Despite the current political and economic uncertainties at home and abroad the company’s property and financial position allows the future to be viewed with confidence.”
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