UK Commercial Property Reit Limited (UKCM)

Sector:

Real Estate

Index:

FTSE 250

80.00p
   
  • Change Today:
      2.30p
  • 52 Week High: 81.20p
  • 52 Week Low: 59.80p
  • Currency: UK Pounds
  • Shares Issued: 1,299.41m
  • Volume: 4,971,421
  • Market Cap: £1,039.53m
  • RiskGrade: 248

UK Commercial Property REIT buys M8 Industrial Estate for £24.6m

By Josh White

Date: Wednesday 19 Sep 2018

LONDON (ShareCast) - (Sharecast News) - UK Commercial Property REIT announced the acquisition of M8 Industrial Estate near Glasgow from Grayling Capital on Wednesday, for a headline price of £24.6m, based on a topped-up net initial yield of 5.9%.
The FTSE 250 firm said the acquisition was being funded through existing cash resources.

M8 Industrial Estate comprises 20 units totalling 290,104 square feet, and offered the potential for two further developments on site.

UKCPT said it was at 92% occupancy, let to tenants including Boots UK, Rentokil and PTS with a WAULT of seven years to expiry and six years to break.

There were three smaller void units, and with the average passing rent of £5.25 per square foot it said there was an opportunity to let up vacant space and grow rents.

M8 is located in central Scotland, immediately to the east of Glasgow at the junction of the A8 and A725, providing "immediate access" to the M8 linking Edinburgh and Glasgow.

The asset was also situated close to access to the M74 linking Scotland to England and the M73, which provided a key route to the North.

UKCPT said the estate was "well placed" for last mile delivery due to its proximity to Glasgow city centre, and provided access to more than two million people within a one hour drive and over more than million people within a two hour drive time.

"This transaction is a continuation of our stated strategy to invest capital into prime assets which offer income growth potential and that are accretive to dividend cover," said lead manager of UKCPT at manager and adviser Aberdeen Standard Investments, Will Fulton.

"M8 Industrial Estate is a high quality, multi-let industrial asset, which not only generates stable income, but also offers potential to capture reversion and lease up space.

"There is also an opportunity for future value creation and income growth through active asset management."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

UKCM Market Data

Currency UK Pounds
Share Price 80.00p
Change Today 2.30p
% Change 2.96 %
52 Week High 81.20p
52 Week Low 59.80p
Volume 4,971,421
Shares Issued 1,299.41m
Market Cap £1,039.53m
RiskGrade 248

UKCM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
4.64% above the market average4.64% above the market average4.64% above the market average4.64% above the market average4.64% above the market average
55.1% below the sector average55.1% below the sector average55.1% below the sector average55.1% below the sector average55.1% below the sector average
Price Trend
12.44% below the market average12.44% below the market average12.44% below the market average12.44% below the market average12.44% below the market average
1.89% below the sector average1.89% below the sector average1.89% below the sector average1.89% below the sector average1.89% below the sector average
Income
48.91% above the market average48.91% above the market average48.91% above the market average48.91% above the market average48.91% above the market average
23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average
Growth
65.98% below the market average65.98% below the market average65.98% below the market average65.98% below the market average65.98% below the market average
73.08% below the sector average73.08% below the sector average73.08% below the sector average73.08% below the sector average73.08% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
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UKCM Dividends

  Latest Previous
  1st Interim 5th Interim
Ex-Div 13-May-21 06-May-21
Paid 28-May-21 21-May-21
Amount 0.64p 0.53p

Trades for 18-Jun-2021

Time Volume / Share Price
17:05 11,658 @ 80.00p
16:50 98,537 @ 80.00p
16:48 107,568 @ 80.00p
16:48 21,258 @ 80.00p
16:47 9,208 @ 80.00p

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