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 has declined slightly due to the loss of income from two vacant properties. However, distributable income and DPU have dropped significantly mainly due to an increase in finance costs and the manager elected to receive 100% of fees in cash.
Rental Reversion
Out of 155 properties, 134 properties are expected to have rental escalation between 11.0% and 15.4%. However, 11 would be subjected to rent reductions after the rental escalation.
Asset Enhancement Initiative
Various AEI works have been planned for DWP-occupied properties to optimize energy use.
Distribution Breakdown
- Distributable Income Breakdown:
- 9% from Operation
- 1% from Release of Retention/Capital
- Distribution = 100% of Distributable Income
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
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