UK Commercial Property Trust has reported a NAV of 86.5p in the six months to 30 June, down marginally from 86.7p per share on 31 December.
NAV total return came in at 1.9%.
The investment trust also posted a portfolio return of 2.8%, driven mainly by the industrial and office sectors, and slightly above the IPD benchmark total return of 2.6%.
It has cash of £114m, of which £70m is available for investment and a further £50m in the form of a revolving credit facility.
UKCPT said that while it is too early to point to any trends post-EU referendum, occupier demand has been stable on its portfolio.
Since the Brexit vote, it completed 14 lettings, generating a combined rent roll of £3.1m pa.
Andrew Wilson, chairman of UKCPT, said: “In a year that has so far been dominated by the political and economic uncertainty of the EU referendum, UKCPT delivered a creditable performance in the first six months of 2016,” said.
“Set against this uncertain outlook, UKCPT’s strong defensive characteristics, with a diversified portfolio by sector, geography and tenant base, position it well to provide a sustainable rental income stream.”
• To send feedback, e-mail shekha.vyas@estatesgazette.com or tweet @ShekhaV or @estatesgazette
