14th May 2014 15:30
LONDON (Alliance News) - F&C UK Real Estate Investments Ltd said Wednesday that it had outperformed its benchmark in the quarter to end-March.
The real estate investment trust posted a total return on net asset value per share of 5.4% for the quarter, outperforming the FTSE All-Share Index which saw a negative return on net asset value per share of 0.6%.
The trust said that offices had produced the largest contribution to the portfolio during the quarter, returning 4.8%. Industrial property returned 3.9%, although retail property lagged returning only 2.8%.
The largest contribution came from its property at 1-2 Lochside Way, Edinburgh, due a new lease with HSBC Bank PLC.
Its property portfolio had a value of GBP281.5 million at the end of the quarter, following two property sales.
Shares in F&C UK Real Estate last traded flat at 83.25 pence.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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