URBAN LOGISTICS REIT PLC INTERIM REPORT
SEPTEMBER 2020
DRIVING
PERFORMANCEOur Business odel pg 2
Chairman's Statement pg 4
THROUGH
ASSET
MANAGEMENT
Manager's Report pg 6
REPORT | FINANCIAL STATEMENTS | |||
At a Glance | 1 | Independent Review Report | 11 | |
Our Business Model | 2 | Condensed Consolidated Statement | ||
Chairman's Statement | 4 | of Comprehensive Income | 12 | |
Condensed Consolidated Statement | ||||
Manager's Report | 6 | |||
of Financial Position | 13 | |||
Condensed Consolidated Statement | ||||
of Cash Flows | 14 | |||
Condensed Consolidated Statement | ||||
of Changes in Equity | 15 | |||
Notes to the Interim Financial Statements | 16 | |||
Supplementary Information | 23 |
ADDITIONAL INFORMATION
Glossary of Terms | 26 |
Company Information | 29 |
URBAN LOGISTICS REIT PLC | 1 |
Interim Report - September 2020 |
AT A GLANCE
REPORT
Contracted rent | Portfolio valuation |
£19.7m | £345.9m |
Sep 2019: 12.2m | Sep 2019: £195.0m |
OUR LOCATIONS
BY REGION
WAULT
5.5years
Sep 2019: 6.1 years
Geographic location (by capital value)
8%
Net initial yield
5.6%
Sep 2019: 6.2%
Tenant covenant
(per Dun & Bradstreet)
4%
17%
11%
21%
5%
9%
38%
- South East
- South West
- Midlands
- North West
- Yorkshire & North East
- Other
87%
- Low/low-moderaterisk
- Moderate risk
- Moderate/moderate-highrisk
EPC ratings (by floor area) Sep 2020
0.1%
7.4%
18.9% | 0.7% |
72.8%
A-C | D | E | ||
F and below | Not rated | |||
2 | URBAN LOGISTICS REIT PLC |
Interim Report - September 2020 |
OUR BUSINESS MODEL
LAST MILE LOGISTICS.
Urban Logistics focuses on investing in industrial and logistics properties that enable businesses to operate essential modern distribution networks capable of responding to the challenges created by e-commerce and evolving infrastructure demands. We are building a portfolio of high-qualitysingle-let properties with secure income from a diverse range of tenants operating in a variety of sectors. Our active asset management approach enables us to deliver sector-leading returns to shareholders, targeting 10 - 15% total return per annum.
INPUTS
FOCUS ON LAST MILE
Highest growth segment of industrial and logistics asset class.
STRONG COVENANTS
Focus on single-let properties let to institutional grade tenants.
Low/low-moderate risk*
87%
STRATEGIC LOCATIONS
Targeting e-fulfilment in locations where supply is limited and demand robust.
Midlands and South East bias
59%
INVESTMENT POLICY
Negotiate acquisitions at 30 - 70% of new build cost on assets with below market rate rents with short- to medium-term rent review reversionary potential.
Acquisitions percentage of new build cost
30 - 70%
WHAT WE DO
BUY WELL
20,000 to 200,000 sq.ft single-let logistics warehouses in urban locations.
MARKET DYNAMICS
Real estate returns focussed on income- led total return
- Rental growth through experienced asset management.
- SHED offers compelling capital growth off low passing rents and capital values.
* Per Dun & Bradstreet (Overall Business Risk)
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Urban Logistics Reit plc published this content on 12 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2020 07:10:01 UTC
