Clipstone Logistics REIT plc

Clipstone Logistics REIT plc was launched in 17 December 2014. Its shares are listed on The International 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 nine properties, being five distribution warehouses located in and around the Golden Triangle and four South-East multi-let industrial estates.

Total Returns to 30 June 2018


Key Fund Data
as of 30 June 2018

Number of Properties 9
Aggregate Value £127.3m
NAV Per Share £1.315
Number of Tenants 30
Vacancy Rate 0.4%
Loan to Value 38.4%
Projected Distributions: 5.0p per share
Total Return since launch in December 2014 53.8%

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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Paul Priestley
Head of Asset Management

Paul has 21 years' experience in real estate, including asset management, leasing, development, refurbishment and dilapidations.

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Non-Executive Directors

Nicholas Lyons
Independent Non-Executive Chairman

Currently non-executive Chairman of Phoenix Group Holdings plc and non-executive director of The British United Provident Association Limited (BUPA).

Former non-executive directorships include Chairman of Miller Insurance Services LLP, Chairman of Longbow Capital LLP, Catlin Group Limited, Friends Life Group plc, Pension Insurance Corporation plc and Temple Bar Investment Trust 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 Jupiter Fund Management plc and RailPen Investments (the asset manager of the Railways Pension Scheme).

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

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

Interlink 145

The property is currently available to let

Rhenus Logistics

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

TK Maxx

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

Optima Park

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

Clipper Logistics plc

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

A fully let industrial estate in Newbury

Stansted 600
Taylors End Road, Stansted

A modern nine unit Industrial Estate.