The Group has raised over £320 million of equity capital since its IPO, deploying the net proceeds, together with debt finance, at an all-in average interest cost of 2.9% and 6.4% average Net Initial Yield.
Our portfolio is diverse and of exceptionally high quality, with our tenants distributing goods the ‘last mile’ to businesses and customers.
As at 31 March 2021 the Company’s portfolio features:
· Valuation increase to £ 508 million
· Weighted average unexpired lease term of 7.4 years
Our tenants manufacture and distribute essential goods the ‘last mile’ of the supply chain to homes and businesses. This is a vital part of the supply chain and demand for such properties vastly exceeds demand.
Although our assets are spread throughout the UK, we have a Midlands and South East bias as these are the areas with the strongest take-up of logistics space and are seeing strong rental growth.
We pride ourselves on a close and collaborative relationship with our tenants, founded on regular dialogue and a detailed understanding of their business.
Our business benefits from strong tenant covenants of which 89% are rated as low / low-moderate risk:
- Single-let assets
- High-quality tenants
- Essential goods
- No 'fast fashion' retail