Important information

You must read the following information before proceeding. It explains certain legal and regulatory restrictions which apply to the information contained on this website. By accessing this website, you agree to be bound by the terms and conditions below. If you do not agree to the notices and disclaimers below, do not access this website.

This website provides general information about LXi REIT plc (the "Company") only and does not constitute investment, tax, legal or other advice. The information contained on this website is intended only for professional and retail investors (as those terms are used in the Alternative Investment Fund Managers Directive 2011/61/EU) who are resident in the United Kingdom and may not be accessed by persons who are located in the United States, Canada, Australia, the Republic of South Africa or Japan. Viewing the materials you are seeking to access may not be lawful in jurisdictions other than the United Kingdom. In some jurisdictions, only certain categories of person may be allowed to view such materials. Any person who wishes to view these materials must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict them from doing so.

If you are not permitted to view this website or are in any doubt as to whether you are permitted to view this website, please exit this website immediately by clicking on the "I do not accept" button below.

You may download or print copies of the reports or information contained within this website for your own private use only; all other copying, reproducing, transmitting, distributing or displaying of material on this website (by any means and in whole or in part) is prohibited. The contents of this website must not be released or otherwise forwarded, distributed or sent, directly or indirectly, in whole or in part, outside the United Kingdom and in particular in or into any other Member State of the EEA, the United States, Canada, Australia the Republic of South Africa or Japan or any other jurisdiction where the distribution of such materials would or may breach any applicable law or regulation or would require any registration or licensing within such jurisdiction. Persons receiving any such materials (including, without limitation, custodians, nominees and trustees) should observe these restrictions and must not, directly or indirectly, in whole or in part, forward, distribute or send them in, into or from any jurisdiction outside the United Kingdom. None of the Company, LXI REIT Advisors Limited, Alvarium Fund Managers (UK) Limited nor any of their respective representatives accepts any responsibility for any violation by any person of any of these restrictions.

The information on this website may be subject to amendment and updating without notice. None of the Company, LXI REIT Advisors Limited, Alvarium Fund Managers (UK) Limited nor any other person guarantees the accuracy or completeness of any information on this website and each such person disclaims all representations and warranties, whether express or implied, to the greatest extent permitted by applicable law and regulation. By continuing to use this website, you agree to the exclusion by such persons, to the greatest extent permitted by applicable law and regulation, of any and all liability for any direct, indirect, punitive, consequential, incidental, special or other damages, including, without limitation, loss of profits, revenue or data arising out of or relating to the provision of and your use of this website and its content.

This website may contain or link to content which is generated by third parties. None of the Company, LXI REIT Advisors Limited, Alvarium Fund Managers (UK) Limited nor any other person accepts any responsibility in respect of any information contained on any other website which may be linked to or from this website.

The information on this website is for information purposes only and does not constitute or form a part of any offer or invitation to sell or issue, or the solicitation of any offer to purchase or subscribe for, securities in any jurisdiction. If you are considering any investment in the Company's shares and are unsure as to whether the investments described on this website are suitable for you, we strongly recommend that you seek professional advice from a financial adviser before making any investment or financial decisions. All investment is subject to risk. The value of the shares in the Company may go down as well as up. Past performance is no guarantee of future returns and there is no guarantee that the market price of the Company's shares will fully reflect their underlying net asset value. There is also no guarantee that the Company's investment objective or return objectives will be achieved.

This website is governed by the laws of England.

By clicking the "I accept" button below, you warrant that you are located in the United Kingdom, you are not a resident of, or physically present in, the United States, Canada, Australia, the Republic of South Africa or Japan or any other territory where to do so would breach applicable laws, rules or regulations, and you agree that you will not transmit or otherwise send any of the information on this website to persons outside the United Kingdom.
I Do AcceptI Do Not Accept
X

Michael Maddox

Assistant Fund Manager

Mike trained and qualified as a chartered surveyor (MRICS) and has over 10 years’ experience in the commercial real estate market. He has specialised in the active management and growth of Long indexed income strategies, most recently at KFIM and Aviva Investors.
X

Charlotte Fletcher

Head of Transactions

Charlotte is a qualified solicitor with responsibility for managing and implementing transactions. Prior to joining the team, Charlotte trained and practised within the commercial real estate team at Travers Smith LLP, where she advised property funds, developers and lenders on a range of matters, including commercial and residential development and forward funding, acquisitions and disposal, re-financing and landlord and tenant work.
X

Charlotte Price  

Financial Controller

Charlotte is a qualified Chartered Accountant (ACA). Prior to joining the team, Charlotte trained and qualified in the real estate team at BDO spending five years working with large property funds, developers and contractors. Charlotte's role at LXi involves overseeing the group accounting, reporting and financial planning. Charlotte also has responsibility for REIT regime and debt compliance reporting and heads the Group’s ESG initiatives.
X

Simon Haarer

Head of Asset Management

Having qualified as a chartered surveyor at Knight Frank Simon spent the first 10 years of his career in Commercial Lease Advisory roles, latterly at CBRE, before moving into Asset Management. Since making the move he has managed a variety of asset classes including retail, offices, industrial and foodstores nationwide. Simon joined LXI in 2019 and oversees all Asset Management matters.
X

Barbora Melezínková

Head of ESG

Barbora is responsible for leading and continually enhancing LXi REIT’s ESG strategy and works closely with the wider team to oversee implementation of environmental, social and governance considerations across all investments. Prior to joining the LXi team, Barbora was a Senior Asset Manager on LGIM Real Assets’ long income funds with dedicated focus on ESG strategy and implementation. Barbora is a qualified Chartered Surveyor (Property Finance & Investment pathway) with a total of 12 years’ experience in the real estate investment management sector, including a background in research and analytics.
X

Stacey Wood

Financial Controller

Stacey Wood is a Certified Chartered Accountant (ACCA) with more than 12 years direct experience in the commercial property sector. Stacey qualified with Baker Tilly prior to joining Prestbury in 2010, where she spent the last seven years working as Financial Controller for Secure Income REIT Plc. Stacey joins the LXi team as Financial Controller following the merger in July 2022.
X

Robert Ward

Property Director

Robert Ward, MSc, MRICS, is a qualified Chartered Surveyor with more than 15 years’ experience in commercial property, specialising in operational real estate and long income mandates. Rob originally qualified with CBRE before joining Prestbury, helping to launch and manage Secure Income REIT through to its merger with LXi in 2022. Rob is now the Property Director for LXi REIT advisors.
X

Ismat Levin

Non-Executive Director

Ismat has 28 years' experience in commercial, international growth and legal technology-led software industries across NASDAQ-listed and private equity contexts, including as a Board observer. She is currently Vice President and Group General Counsel at Synamedia Limited. Before this, Ismat spent almost 20 years at NDS Group as Vice President and Group General Counsel as it grew from a start-up investment owned by News Corporation, to being a NASDAQ listed company for 10 years, to being sold to Cisco Systems, Inc. for $5 billion. Ismat began her career at Dentons LLP.
X

Sandy Gumm

Non-Executive Director

Sandy Gumm, Bec, CA (ANZ), is an Australian qualified Chartered Accountant with over 29 years' experience and Chief Operating Officer of and a shareholder in Prestbury Investment Partners Limited, which was, until the merger became effective, the investment adviser to the SIR Group. She qualified as a Chartered Accountant in 1992 and worked for KPMG for nine years in Sydney and London before becoming Group Financial Controller of Burford Holdings Plc, where Nick Leslau was Chief Executive, in 1995. She was Finance Director at the time that Prestbury Group Plc was established in 1997, and in 2007 became Chief Operating Officer of Prestbury. Sandy was a director of Secure Income REIT plc and all of its UK subsidiaries throughout the time that it was listed and has also acted as its Company Secretary during that time.
X

John Cartwright

Non-Executive Director

John Cartwright was formerly Chief Executive of AREF from 2009 to 2019 and remains on the Board. His responsibilities as Chief Executive of AREF were to represent and promote the interests of members, promote best practice in fund governance and ensure the smooth running of the association. Prior to this, John was with M&G Real Estate (formerly PRUPIM) for nearly 35 years in a variety of roles; latterly as Head of Institutional and Retail Funds and a member of PRUPIM’s Board and Investment Committee. He has more than 20 years’ experience of managing pooled and segregated accounts for both retail and institutional investors. John is also a member of the Investment Committee of Lothbury Property Trust.
X

Nick Leslau

Non-Executive Director

Nick Leslau, BSc (Hons) Est Man, FRICS, until the merger was the Chairman and majority shareholder of Prestbury Investment Partners Limited, investment adviser to the Secure Income REIT plc group of companies ('SIR Group'). Nick is a Fellow of the RICS, who has been Chairman and Chief Executive of Prestbury Investment Holdings Limited since it commenced business in 2000. He was Chief Executive of Burford Holdings Plc for approximately ten years up to 1997 and Group Chairman and Chief Executive of Prestbury Group Plc from 1998. He has sat on many quoted and unquoted company boards including, most recently, Max Property Group Plc, and is a member of the Bank of England Property Forum. Nick was a director of Secure Income REIT plc and many of its UK subsidiaries throughout the time that it was listed.
X

Hugh Seaborn

Non-Executive Senior Independent Director

Hugh brings over 35 years of real estate experience. He spent 13 years as a non-executive at TR Property Investment Trust plc, including four years as Chair, and is currently the CEO of Cadogan. He founded and chairs two Business improvement Districts, The Knightsbridge Partnership and The King's Road Partnership, and is Chair of the Knightsbridge Business Group. Previously, he was CEO of The Portman Estate and prior to that Director and Head of Investment Management at CBRE. Formerly, Hugh has been a member of the Council of the Duchy of Lancaster, Chair of the Westminster Property Association, Chair of the Estates Business Group, and a member of the Property Advisory Committee for the Natural History Museum. He is a Chartered Surveyor.
X

Cyrus Ardalan

Non-Executive Chairman

Cyrus is a highly experienced international investment banker with well-established corporate governance expertise and successful credentials as chairman. His career in capital markets spans over 40 years during which he has held senior executive and non-executive roles at leading global banks. He is currently the Chairman of the Board at OakNorth Bank and was previously non-executive director and Chairman of a number of institutions, including Citigroup Global Markets, the International Finance Facility for Immunisation and the International Capital Markets Association. Cyrus spent 15 years at Barclays Bank as Vice Chairman overseeing a number of areas including the bank's Public Policy and Government Relations units. Prior to this, he held a range of senior positions at Paribas and The World Bank.
X

Alex Mattey

Head of Investor Relations

Alex is responsible for managing investor relations for the group. Alex was previously an Investor Relations Manager for INTERNOS Global Investors, a pan-European real estate manager with €3.5bn AUM. Before that, Alex worked at Clearbell Property Partners, a UK opportunistic real estate manager, primarily assisting with raising their second fund which closed at £400m. Over the last 12 years, Alex has also worked as a Corporate Broker for public and private entities as well as providing IR consultancy to a range of FTSE 350 and small-cap companies.
X

Nick Barker

Compliance Officer

Nick is Chief Compliance Officer for LJ Partnership. He has 30 years’ experience of financial regulation and compliance, having previously worked at HM Treasury; the US National Association of Securities Dealers (NASD); the Investment Management Regulatory Organisation (IMRO); in the compliance advisory teams at Deloitte & Touche and Ernst & Young; and as an independent compliance adviser. Nick is an MA of Oxford University.
X

Alissandra Cooke

General Counsel

As General Counsel and Head of Real Estate Transactions at LXi REIT Advisors, Alissandra is responsible for providing legal advice to the platform’s partners, fund managers and asset managers. Alissandra covers a wide range of legal services including all aspects of transacting real estate, fund governance and financing related matters. Prior to joining the business, Alissandra practised as a solicitor for 9 years at City law firm, Travers Smith LLP. She has significant experience advising cross-sector property funds, developers and operators on a broad spectrum of real estate matters, focussed on commercial development and forward fundings, acquisitions and disposals, re-financings and landlord and tenant work.
X

Freddie Brooks

CFO

Freddie leads on all strategic financial matters including fund reporting, budgeting and forecasting, treasury management and the monitoring of internal controls. Freddie is both a qualified Chartered Accountant (ACA) and Chartered Surveyor (Property Finance & Investment pathway). He has significant experience in the property sector and previously worked advising similar businesses at the number one audit firm and advisor to UK REITs, as well with private property funds, developers and contractors.
X

Jamie Beale

Partner

Jamie has significant transaction management experience in the long income and forward funding real estate space. Prior to joining Osprey Equity Partners, Jamie spent five years in the City as a real estate lawyer where he acted for leading developers and property funds on a variety of deals, ranging from large scale residential developments to substantial commercial property transactions.
X

Simon Lee

Partner and Fund Manager

Simon trained and practised as a solicitor at City law firm, Slaughter and May, from 1999 to 2006, following which he spent the next 10 years in private equity real estate, co-founding Osprey Equity Partners in 2011 and LXI REIT Advisors in 2017. Simon’s role covers a wide range of areas, including formulating Osprey’s investment strategies and products, raising equity and debt finance, asset selection, and negotiating and implementing transactions with vendors, purchasers, developers, investors, lenders and joint venture partners.
X

John White

Partner and Fund Manager

John entered the commercial real estate market in 1987 and after qualifying as a chartered surveyor at Allsops moved to the investment team at Cushman & Wakefield. There he became a partner and spent the next 18 years advising a range of institutional investor clients on their UK acquisitions and disposals across the full range of real estate sub-sectors including retail (in and out of town), offices (London, Thames Valley and regional cities), logistics, and alternatives. John moved into private equity real estate in 2007 and co-founded Osprey Equity Partners in 2011 and LXI REIT Advisors in 2017.
Share Price      Full Details >
LXi REIT plc is a specialist inflation-protected long income real estate investment trust, providing shareholders with regular, attractive income, with the potential to sustainably grow the dividend in absolute terms through upward-only inflation-protected very long-term leases, together with capital growth.   

The Company is a constituent of the FTSE 250, EPRA/NAREIT and MSCI indices. 
We selectively invest in commercial property assets let, or pre-let, on very long (typically 20 to 30 years to expiry or first break), inflation-linked, triple net leases to a wide range of strong tenant covenants across a diverse range of robust property sectors. We focus on structurally supported sub-sectors and underlying property fundamentals including low starting rents. Our key strategies include forward fundings, sale and leasebacks and recycling of capital to deliver outperformance. 
‍
We carefully invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. LXi REIT plc does not undertake direct development activity nor assume direct development risk. 
‍
The Company is targeting a dividend of 6.3 pence per ordinary share for the year which commenced on 1 April 2022**. 
‍
The Company has delivered an average annualised total accounting return of 10.1% pa on a compounded basis (versus a target of at least 8%), and a compounded annual dividend growth rate of 5% (CPI: 2.9% pa, RPI: 4.0% pa) since our IPO in 2017.

LXi REIT’s Investment Advisor is LXi REIT Advisors Limited, which is owned by Alvarium and the principals, shareholders and directors of Osprey Equity Partners Limited. 
‍
Annual fees paid to the Investment Advisor are highly competitive: annual fee of 0.75% on market capitalisation up to or equal to £500 million, 0.65% on market capitalisation from above £500 million to £2 billion, and 0.55% on market capitalisation from above £2 billion. No performance fee is payable to the Investment Advisor.
‍
The Company, a real estate investment trust ("REIT") incorporated in England and Wales, is listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017. 
‍Investment Objective 

‍LXi REIT’s investment objective is to deliver inflation-protected income and capital growth over the medium-term for shareholders through investing in a diversified portfolio of predominantly UK property, that benefits from long-term index-linked leases with institutional-grade tenants. 

‍Investment Policy (Summary) 

‍LXi REIT will target inflation-protected income and capital returns through acquiring a diversified portfolio of predominantly UK property assets, let or pre-let to a broad range of tenants with strong covenants on very long and index-linked leases. 

LXi REIT will seek to acquire high quality properties, taking into account the following key investment considerations:
LXi REIT will target a wide range of sectors, including office, retail, leisure, industrial, distribution and alternatives – including hotels, serviced apartments, affordable housing and student accommodation. It will also focus on growth sub-sector areas such as discount retailers, budget hotel operators and “last mile” distribution units fuelled by online retail.

LXi REIT will seek to only acquire assets let or pre-let to tenants with strong financial covenants and on long leases (typically 20 to 30 years to expiry or first break), with index-linked or fixed rental uplifts, in order to provide security of income and low cost of debt. LXi REIT will only invest in assets with leases containing regular upward-only rental reviews. These reviews will typically link the growth in rents to an inflation index such as, RPI, RPIX or CPI (with potentially a minimum and maximum level) or alternatively may have a fixed annual growth rate.

LXi REIT will not undertake any direct development activity nor assume direct development risk.  However, LXi REIT may invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. In such circumstances, LXi REIT will seek to negotiate the receipt of immediate income from the asset, such that the developer is paying LXi REIT a return on its investment during the construction phase and prior to the tenant commencing rental payments under the terms of the lease. 

Where LXi REIT invests in forward funded developments:
The Directors currently intend at all times to  conduct the affairs of LXi REIT so as to enable it to continue to qualify as a REIT for the purposes of Part 12 of the CTA 2010 (and the regulations made thereunder).

LXi REIT’s full investment policy is included in its Prospectus, which can be found in the Documents section of this website.
‍Investment Advisor and AIFM

The Company has appointed Alvarium Fund Managers (UK) Limited as its alternative investment fund manager (the "AIFM"). The Company and the AIFM have appointed the Investment Advisor to provide certain services in relation to the Company and its portfolio. 
‍
Alvarium Fund Managers (UK) Limited is 100 per cent. owned by Alvarium Investments Limited. Alvarium was established in 2009 and has grown to become a substantial, international multi-family office and asset manager, supervising in excess of US$22 billion of assets, for families, private individuals and institutions. It has over 200 employees and 12 offices around the world. 
‍
In September 2021, Alvarium Investments Limited announced it had signed a merger agreement with two US investment houses, Tiedemann Advisors and TIG Advisors, to create a global investment management group with approximately $60 billion of AUM and which, subject to regulatory approval, is expected to complete and list on NASDAQ later this year. 
‍
The Investment Advisor has extensive expertise in the purchase and forward funding of commercial property assets let or pre-let on long, index-linked leases to institutional grade tenants with strong financial covenants across a wide range of defensive and robust sectors. 
‍
The Investment Advisor comprises property, legal and finance professionals with significant experience in the real estate sector, as described below. The team has capitalised and transacted over £2 billion of commercial property assets with a particular focus on accessing secure, long-let and index-linked UK commercial real estate through forward funding and built asset structures. 
‍
The core management team of the Investment Advisor (whose details are set out below) is supported by a team of other accounting, asset management, compliance, marketing, public relations, administrative and support staff.

Management Team

The key individuals responsible for executing LXi REIT’s investment strategy are:
John White
Partner and Fund Manager
Simon Lee
Partner and Fund Manager
Freddie Brooks
CFO
Alissandra Cooke
General Counsel
Nick Barker
Compliance Officer
Alex Mattey
Head of Investor Relations
Simon Haarer
Head of Asset Management
Charlotte Price
Financial Controller
Michael Maddox
Assistant Fund Manager
Robert Ward
Property Director
Stacey Wood
Financial Controller
Barbora Melezínková
Head of ESG
Non-Executive Directors

The Company's investment activities are overseen by the Company's Non-Executive Board of Directors. The Investment Advisor and the Board work together to ensure proper execution of the Company's investment strategies, consistent application of policies, compliance with procedures and compliance with local and regional regulatory requirements.

The Group has mature structures of governance, compliant with the AIC Code of Corporate Governance, which is detailed in the Group's Annual Report. The Group's governance complies with its enhanced ESG policy that has been adopted during the year.

All of the Directors are non-executive and are independent of the AIFM and the Investment Advisor.
Cyrus Ardalan
Non-Executive Chairman
Hugh Seaborn
Non-Executive Senior Independent Director
John Cartwright
Non-Executive Director
Ismat Levin
Non-Executive Director
Sandy Gumm
Non-Executive Director
Nick Leslau
Non-Executive Director
* Compounded annual total shareholder return from IPO to closing share price at 31 March 2022 assuming dividends reinvested. 
** This is a guidance level or target only and not a profit forecast. 
Signup for Alerts

‍Register your email address for the latest
alerts from LXi REIT
Signup
Connect