Our £4.7 billion portfolio is concentrated in modern and well-located properties covering more than 5 million sq m across three product categories.  

We believe that high-quality industrial and distribution property provides a good basis for generating sustainable and growing dividends and resilient capital growth. As an asset class, it produces a higher yield than other property sectors and can benefit from an uplift in value upon change of use.

Larger logistics warehouses

24 per cent of our portfolio by value is invested in larger distribution warehouses, typically over 10,000 sq m, serving the logistics industry. These types of assets attract a range of occupiers including large retailers, manufacturers and logistics service providers. Often with relatively long leases, strong occupier covenants, and limited ongoing capital expenditure requirements, these properties offer secure and attractive income returns.

Smaller warehouses and light industrial buildings

48 per cent of our portfolio by value is invested in multioccupier light industrial estates, typically comprising units of 10,000 sq m or less, which are built to suit a wide variety  of customer requirements. These estates are located in and around major conurbations offering good road access, making them ideal centres for the distribution of goods direct to the customer, to retail units or for business-to-business distribution.

Higher Value Uses

We seek to generate additional rents and returns by exploiting opportunities to redevelop industrial land into higher value uses such as data centres, suburban offices, trade counters, car showrooms, research and development facilities, or selfstorage centres. These sub-sectors represent 21 per cent of our portfolio by value, including 25 data centres.