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
9M2022 revenue has increased yoy due to full-period contributions from the properties acquired in March 2021. However, both distributable income and DPU have declined mainly due to 100% of manager fees being paid in cash starting in 2022 as well as an increase in interest expenses.
Rental Review
There would be a rent review in Apr 2023, which is based on the UK CPI, ranging from min. 1% to max 5% on an annual compounding basis. Judging from the graph above, if we take a rough guide from 2018 to 2022, the potential uplift could be around 13.5%.
Asset Enhancement Initiative
For Bradmarsh Business Park, upgrading of HVAC system and installation of new LED lighting is completed. Various works have been planned for DWP-occupied properties to optimize energy usage....
