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

UKCP pre-lets logistics unit in Wembley

By Josh White

Date: Friday 01 Mar 2019

LONDON (ShareCast) - (Sharecast News) - UK Commercial Property REIT has fully pre-let its 180,000 square foot 'Wembley180' logistics unit in London, it announced on Friday, ahead of the current tenant moving out at the end of March.
The FTSE 250 real estate investment trust said it had exchanged contracts on a new 10-year index-linked lease with no breaks with an unnamed international business, at a rent of £2.7m per annum.

It said the lease had allowed it to capture and exceed the property's reversionary rental value, given the strength of its location.

The new occupier was expected to move into the building in October once the firm has completed a comprehensive refurbishment of the asset to a grade A specification.

Works were due to commence as soon as the current occupier vacated the property upon lease expiry at the end of March, the board said.

It described Wembley180 as an "extremely well-located", large-scale urban logistics centre, which was situated on a 9.9-acre site in Neasden in close proximity to the M1 and M25 motorways, as well as the A406 North Circular, providing direct access to central London.

"This major pre letting to an international business is a significant transaction for UKCM," said Will Fulton, lead manager of UK Commercial Property REIT at the company's investment adviser Aberdeen Standard.

"It allows us to secure a long term index linked income stream from a very strong tenant covenant, whilst at the same time capturing the site's higher rent potential.

"We also expect pre-letting this property will have a positive impact on the building's value."

As a last mile logistics hub, Fulton said.

"Wembley is extremely sought after by businesses looking to service the increasing demands of London's consumers, evidenced by our ability to secure a blue-chip occupier for the entire building before the current tenant has vacated the premises."

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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

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UKCM Dividends

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  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

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16:47 9,208 @ 80.00p

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