Inflation-protected income and capital growth underpinned by a secure and highly diversified portfolio of very long-let and index-linked UK property assets
Highlights: as at 30 September 2018
21%
TOTAL NAV RETURN
From IPO
in February 2017
to 30 September 2018
in February 2017
to 30 September 2018
113.0p
EPRA NAV PER SHARE
30 September 2018
Increase of 15.5% from 98p at IPO
Increase of 15.5% from 98p at IPO
5.50p*
DIVIDEND TARGET 2018/19
Increase of 10%
from IPO target
from IPO target
29%
LTV
30 September 2018 Comfortably below 35% medium term maximum
11
YEAR AVERAGE
DEBT MATURITY
DEBT MATURITY
Fixed low debt cost provides good visibility on dividend growth
2.90%
AVERAGE FIXED
DEBT COST PA
DEBT COST PA
308 bps below average acquisition yield
5.98%
AVERAGE ACQUISITION NIY
Against average valuation yield of 5.18% at
30 September 2018
30 September 2018
23
YEAR AVERAGE LEASE TERM TO FIRST BREAK
Long leases yielding secure and predictable income
97%
INDEX-LINKED/
FIXED UPLIFTS
FIXED UPLIFTS
Contracted rental income with embedded growth potential
100%
OCCUPANCY
Fully let or pre let to financially strong tenants
9
PROPERTY
SECTORS
SECTORS
Assets are broadly diversified across defensive and robust sectors
29
STRONG
TENANTS
TENANTS
Yielding diversified income and secure returns
*This is a target only and not a profit forecast and there can be no assurance that it will be met.
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