Clipstone Logistics REIT plc


Clipstone Logistics REIT plc was launched in 17 December 2014. Its shares are listed on The Channel Island Stock Exchange.

The REIT’s principal focus is the acquisition and management of distribution warehouses, with approximately 70% of the REIT’s assets to be in this sector. The market for distribution warehouse remains robust, bolstered by the growth in online retailing. Clipstone has a strong track record in this sector having established (between 2008 and 2012) eight distribution warehouse funds and then realised those investments at an average total return of 26.8% per annum (net of all costs and expenses).

In addition, the REIT targets South East multi-let industrials that are capable of rental and capital improvement, with approximately 30% of the portfolio to be in the multi-let sector. Clipstone believes the secure income from distribution warehouses complements the capital growth potential of South East multi-let industrials.

The REIT owns eight properties, being five distribution warehouses located in and around the Golden Triangle and three South-East multi-let industrial estates.


Key Fund Data
as of 30 June 2017

Number of Properties 8
Aggregate Value £112.4m
NAV Per Share £1.199
Number of Tenants 26
Vacancy Rate 12.6%
Loan to Value 40.6%
Projected Distributions: 5.0p per share
Total Return since launch in December 2014 36.9%

Properties by region


Fund Management Team

Toby Dean
Chief Executive

Toby Dean is the Chief Executive of Clipstone. He is responsible for investor relations and overseeing acquistions and sales.

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Marc Cowley
Investment Director

Marc Cowley is the investment director at Clipstone. He previously worked at CBREGI, one of the world’s largest real estate fund management houses.

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Andrew Windle
Fund Manager

Andrew is the Fund Manager at Clipstone, previously spending eight years in the Industrial and Logistics team at M&G Real Estate.

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Non-Executive Directors

Nick Lyons
Independent Non-Executive Chairman

Non-executive Chairman of Miller Insurance Services LLP, Chairman of Longbow Capital LLP

Formerly Non-executive Director of Catlin Group Limited and Friends Life Group plc

Previously the Managing Director of Lehman Brothers London where he was head of the European Financial Institutions Group

Karl Sternberg
Independent Non-Executive Director

Non-executive Director of four listed investment trusts

Student (Fellow) of Christ Church and Chairman of the Investment Committee

Formerly Non-executive Director of Friends Life Group plc and Chairman of Board Investment Committee

Previously Chief Investment Officer of Deutsche Asset Management including the UK property business

Clipstone Logistics REIT plc properties

The Co-operative Pharmacy
Stoke-on-Trent

Purpose built as a distribution warehouse in 2009 with a state-of-the-art KNAPP automated handling system.

Interlink 145
Bardon

The property is currently available to let

Rhenus Logistics
Cannock

Currently occupied by Rhenus Logisitics, the property was built in 2009 and is cross-docked.

TK Maxx
Newcastle-under-Lyme

The property was built in 2001 and is let to TK Maxx.

Optima Park
Crayford

The property was built in 2007 and comprises 14 industrial units located within the M25

Clipper Logistics plc
Swadlincote

Built in 2006 to a high specification and let to FTSE listed Clipper Logistics plc

Hanworth Trade Park
Hanworth, West London

Hayworth Trade Park is a Greater London multi-let trade counter scheme built in 2013.

Horizon West
Newbury

A fully let industrial estate in Newbury