The UK Commercial Property REIT delivered a total return of 4.7% during the half-year to June as the result of its “above benchmark” exposure to the industrial sector.
The IPD benchmark return for the period was 4%.
The £1.4bn portfolio, managed by Aberdeen Standard Investments, is 93% occupied and invested across UK commercial property.
Andrew Wilson, chairman, said: “The successful conversion to a REIT at the start of July is an important milestone for the business, making it one of the larger diversified REITs in the sector.
“With a high-quality portfolio of assets located throughout the UK, a strong balance sheet and the lowest gearing among the company’s peer group, UKCP REIT is well positioned to add value to its property portfolio and enhance returns for its shareholders.”
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