Basic Profile & Key Statistics
- Main Sector(s): Office
- Country(s) with Assets: England, Scotland & Wales
- of Properties (exclude development/associate/fund): 155
Key Indicators
Performance Highlight
Revenue and distributable income increased yoy due to contribution from the properties which acquired in March 2021. However, DPU has declined slightly due to higher interest cost, management taking fees in cash and enlarged unitholder base.
Asset Enhancement Initiative
Various works have been planned for DWP-occupied properties to optimize the energy use.
Related Parties Shareholding
- REIT sponsor's shareholding: Below median for more than 20%
- REIT manager's shareholding: Below median for more than 20%
- Directors of REIT manager's shareholding: Above median for more than 20%
Lease Profile
- Occupancy: ± 5% from median
- WALE: Above median for more than 20%
- Highest lease expiry within 5 years: Below median for more than 20%; Falls in 2023
- Weighted average land lease expiry: Majorities are freehold properties with some longer than 99 years remaining land tenure
Debt Profile
- Gearing ratio: Above median for more than 10%
- Cost of debt: ± 10% from median
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