Custodian REIT’s portfolio rebounded over the last quarter, as it mopped up 95% of June’s rents.
The industrial-heavy landlord saw its portfolio value rise to £575.4m, up from £551.9m in March.
A £19m uplift in the value of its industrial assets, which account for 51% of the total portfolio, offset a £1.4m fall in total value. The rise is a marked difference to the slow but steady decrease in values witnessed in previous quarters.
Richard Shepherd-Cross, managing director at Custodian Capital, said that the “depth of demand” in the industrial and logistics sector, “along with limited supply, restrictive planning and build-cost inflation constraining the pipeline of new development, is leading to sustained rental growth”.
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