21st Apr 2016 08:10
LONDON (Alliance News) - UK Commercial Property Trust Ltd on Thursday said its net asset value total returned outperformed in 2015 amid a strong performance for commercial real estate.
The Guernsey-based trust which invests in UK commercial property said its net asset value per share grew 4.5% in 2015 to 86.7 pence, up from 83.0p at the end of December 2014. The rise was driven by capital value growth in its portfolio, and the successful implementation of asset management initiatives, it said.
The trust said its NAV total return for the year was 9.1%, ahead of the 1.0% growth in the FTSE All-Share Index amid a strong performance for UK commercial property.
UK Commercial Property said its portfolio was valued at GBP1.32 billion at the end of December, up 4.1% over the year with good growth in offices and industrial holdings.
It sold GBP164.0 million in properties in the year and bought GBP145.0 million, including Eldon House in the City of London and a city centre office in Newcastle.
The group paid out 3.68 pence per share in dividends for the year in four equal instalments of 0.92p. The total payout was lower than the 4.0725p paid a year earlier.
Shares in UK Commercial Property were down 0.2% to 86.43p Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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