Our Strategy

Our objective is to deliver sustainable and growing income to our shareholders.

In 2017 we identified UK multi-let industrial as a sector likely to deliver superior growth as a result of a structural imbalance in supply and demand. We believe a focused strategy both in terms of sector and geography will deliver investors strong risk adjusted returns.

The acquisition of a £130m multi-let industrial portfolio and an industrial management platform were the initial step towards achieving this goal and becoming the leading UK multi-let industrial business.

Our 4 Point Plan - 2018 to 2020

Recycling of assets

Planned disposal programme of £460 million of non-MLI, low yielding investments
Acquire c. £220 million of MLI investments in the UK – 65%+ portfolio weighting
NAV for NAV reinvestment into higher yielding, more sustainable growth assets
Intensive asset management on non-core assets to maximise value before sale

Deleverage

Reduce current gearing from 50% to 40% by end 2020
Target gearing of 30–40% thereafter
Utilise short-term bridge facility from Investec to facilitate the acquisitions/disposals process and minimise cash drag

REIT conversion and London listing

Convert to a REIT and list on LSE by June 2018
Cease Bermuda listing
Position the Company for longer term IFA/wealth management investors
Significantly increase liquidity and attract more EEA shareholders

Multi-let IndustriaL Platform

Development of ‘serviced industrial’ model
New asset management platform driven by cutting-edge technology
Development of flexible lease pricing model
Focus on driving rents and improving occupancy

Our Vision

“To be the leading UK multi-let industrial business”