25th Oct 2021 13:54
Urban Logistics REIT PLC - UK industrial properties investor - Intends to list on the main market of the London Stock Exchange due to, what it says, is the "high market capitalisation of the firm and its continuing growth". For the half year ended September 30, reports rent collection over 99% and 99% occupancy across 91 logistics properties. Around GBP50 million of further investments are in advanced stages of contractual progress, the company states, with a new pipeline of over GBP400 million logistics properties identified. In the six-month period, Urban Logistics completes 15 new lease events across the portfolio, generating an uplift of GBP1.6 million in contracted rent.
"The logistics real estate sector continues to enjoy very positive market conditions in recent months with an ongoing supply and demand imbalance for suitable properties," says Chief Executive Richard Moffitt. "After continued dialogue with shareholders, the board believes that a main market listing is the most effective platform to further grow and diversify the shareholder register and the asset base."
The company will report its full half year results on November 11.
Current stock price: 170.29 pence
Year-to-date change: up 19%
By Will Paige; [email protected]
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