UKCPT posts 5.3% NAV total return

UK Commercial Property Trust has reported a 5.3% NAV total return in half-year results boosted by its high weighting to the industrial sector.

The investment company, which is advised by Aberdeen Standard Investments, said it outperformed the IPD benchmark return of 4.8%.

During the half-year, UKCPT, which has a £1.32bn portfolio, generated a total of £3.4m of annual income from 15 new lettings.

Its share price also performed well with the shares swinging from a discount to a premium, delivering a share price total return of 11.4%.

The company continues to explore the possibility of a REIT conversion and is expected to provide an update in the coming months.

Andrew Wilson, chairman of UKCPT, said:  “Despite the background of heightened political uncertainty, UKCPT’s portfolio has again produced above benchmark returns as a number of portfolio initiatives, combined with judicious sales and acquisition activity, have increased exposure to long-term income and driven value.”

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