Aberdeen Standard European Logistics Income has reported a 8.1% rise in its net asset value to €293.6m (£255m) for the year ended 31 December.
This included a 6% uplift of €24.5m (£21.2m) for the final quarter of the year.
During 2020, NAV per share climbed from 1.11p to 1.2p.
The sheds fund delivered a NAV total return of 13.6%,up from 8.6% the previous year, largely driven by yield movement.
Portfolio valuation rose to €430m (£386.7m) across 14 buildings. The fund reported 97% of rent had been collected during the year.
Chairman Tony Roper said lagging e-commerce penetration in continental Europe will continue to offer “a compelling investment case”. He anticipates continued valuation growth in Q1.
Roper said: “Looking forward, a clear priority is to grow the company, in a sensible and measured way, in order to enjoy the benefits that come with increased scale and liquidity.”
Lead fund manager Evert Castelein added: “We see mid-box properties in established distribution hubs with good connectivity as especially attractive, offering strong income and capital appreciation opportunities, whilst also benefitting from their suitability for a range of uses, further underpinning liquidity.”
To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette
