UK Commercial Property REIT Ltd UKCM sells Sheffield office for GBP17 million
01 March 2021 - 7:00PM
RNS Non-Regulatory
TIDMUKCM
UK Commercial Property REIT Ltd
01 March 2021
UK Commercial Property REIT Limited
UKCM sells Sheffield office for GBP17 million as it continues to
reposition its portfolio towards modern economy property
sectors
1 March 2021: UK Commercial Property REIT Limited ("UKCM" or the
"Company"), which is managed and advised by Aberdeen Standard
Investments* and owns a diversified portfolio of high quality
income-producing UK commercial property, announces the sale of
Hartshead House, a single-let office investment in Sheffield, to
Arella Property Holding Limited for GBP17 million reflecting its
December book valuation.
Disposal proceeds are targeted at sectors supported by the
long-term structural drivers of the modern economy, including the
continued rise of e-commerce and urbanisation, and which are
expected to deliver resilient rental income.
Will Fulton, Lead Manager of UKCM at Aberdeen Standard
Investments, commented: "This latest disposal is in line with our
ongoing strategy to focus our portfolio on modern economy, future
fit, property sectors and assets that benefit from structural
changes in the way we interact with real estate. We remain a
diversified portfolio, strongly weighted to the industrial and
logistics market, and continue to look for opportunities to deploy
capital"
UKCM was advised by ACRE.
ENDS
For further information please contact:
Richard Sunderland / Claire Turvey / Emily Smart / Andrew Davis,
FTI Consulting
Tel: 020 3727 1000
Email: UKCM@fticonsulting.com
Notes to Editors - UK Commercial Property REIT
UK Commercial Property REIT is a FTSE 250 Real Estate Investment
Trust listed on the London Stock Exchange. It aims to provide
shareholders with an attractive level of income together with the
potential for capital and income growth from investing in and
managing a GBP1.21 billion (as at 31 December 2020) diversified
portfolio. The portfolio has a strong bias towards prime,
institutional quality properties and is diversified by location and
sector across the UK.
* The Company is managed and advised by Standard Life
Investments (Corporate Funds) Limited (the Company's appointed
AIFM). Will Fulton, a qualified Chartered Surveyor with 30 years of
experience in the industry, has been Lead Manager since April 2015.
Investors should refer to the Key Information Document prior to
making an investment decision.
Further information on the Company's investment policies, the
types of assets in which the Company may invest, the markets in
which it invests, borrowing limits as well as details of its
management, administration and depositary arrangements can be found
in the Company's Annual Report and Investor Disclosure Document.
The above documents are available on the Company's website
www.UKCPREIT.com. Paper copies of these documents are available on
request, free of charge, via the contact details outlined on the
website.
Property is a relatively illiquid asset class, the valuation of
which is a matter of opinion. There is no recognised market for
property and there can be delays in realising the value of property
assets. Investors should be aware that past performance is not a
guide to future results. The value of investments, and the income
from them, can go down as well as up, and an investor may get back
less than the amount invested.
For further information on UK Commercial Property REIT, please
visit www.UKCPREIT.com .
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END
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