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.
|Number of Properties||9|
|NAV Per Share||£1.256|
|Number of Tenants||35|
|Loan to Value||40.0%|
|Projected Distributions:||5.0p per share|
|Total Return since launch in December 2014||45.2%|