UK Commercial Property REIT Ltd August 2023 Update Presentation Transcript

Sep 12, 2023 / 08:00AM GMT
Presentation
Sep 12, 2023 / 08:00AM GMT

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Corporate Participants
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* Will Fulton

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Will Fulton -

Hello. Thank you, everyone, for listening. My name is Will Fulton. I'm Lead Manager of U.K. Commercial Property REIT, UKCM is known. We are one of the largest U.K. diversified REITs. NAV of bit over GBP 1 billion, strong weighting towards the exciting industrial market that we're in, 60% of our portfolio.

So I'm really pleased with our NAV performance in course to this year 2023 and NAV total return of 1.7%. Broken down clearly into capital and revenue. Our NAV capital growth matched our portfolio capital growth of plus 0.6%. And that's the second quarter in a row, then we've seen capital growth. Really important to see that stabilization with more growth in the sector driven by strong exposure at 58% exposure to the industrial market, really good place to be.

Second aspect of that is revenue and earnings. We've seen underlying earnings growth for quarter 2 of 6%, driven by a combination of positive

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