UK Commercial Property REIT plans to widen its investment policy to include pubs, PRS and additional alternative assets.
The REIT will expand investment to a wider range of asset types and new debt facilities.
In a quarterly trading update, it said it would enable investments across “healthcare, student housing, hotels, care parks, pubs, petroleum and automotive and the commercially-managed private rental sector”.
Andrew Wilson, chairman of UKCM, said: “Strategic acquisitions and disposals have continued this year, recycling capital into high quality holdings that deliver sustainable long-term rental income.”
He noted “further positive momentum behind the repositioning of the portfolio”.
Will Fulton, lead manager of UKCM at Aberdeen Standard Investments, said: “We believe it is important to ‘move with the times’ in maintaining a well-diversified portfolio of UK commercial real estate to meet our objective.”
Fulton said the alternatives sector had “matured and become mainstream”.
He added: “We believe that the ability to selectively add them to the company’s portfolio is an important additional weapon in our armoury to potentially enhance future returns.”
UKCM reported a NAV total return of 4.5% for 2017, with a NAV per share of 93.3p at 31 December 2018, down 1.1% on the previous quarter.
Like-for-like its portfolio capital value increased by 0.2% to £1.45bn.
To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette
