September 2017

  • Oversubscribed IPO raised net proceeds of £146.8 million
  • Seed portfolio acquired for £108.9 million. Acquired from Tilstone Partners, which was founded in 2013
  • Four multi-let industrial estates acquired for £26.3 million

November 2017

  • Three industrial assets acquired for £5.3 million
  • Bank facilities refinanced and increased to £65.0 million

December 2017

  • Plymouth warehouse acquired for £4.3 million
  • Seven-asset industrial portfolio acquired for £18.3 million

March 2018

  • IMPT multi-let warehouse portfolio acquired for £116.0 million
  • Enlarged debt facilities of £135.0 million on improved terms
  • Period-end revaluation gain of £12.1 million against purchase price

September 2018

  • Sold four assets for £19.0 million, reflecting an average net initial yield of 5.1% and a 27% premium to 31 March 2018 book values
  • Acquired Burntbroom Court, Glasgow adjacent to existing 55-acre site at Queenslie for £2.4 million, a NIY of 8.0%
  • Portfolio valuation of £284.3m (after disposals)

March 2019

  • Acquired three assets for a total of £14.2 million at a blended net initial yield of 6.6%
  • Obtained planning permission for a major mixed-use development with a gross development value of £25.0 million
  • Portfolio valuation of £307.4 million

April 2019

  • Raised gross proceeds of £76.5 million through a placing, open offer and offer for subscription

May 2019

  • Acquired four assets for a total consideration of £45.0 million at a blended net initial yield of 6.6%

July 2019

  • Acquired two assets for a total consideration of £5.3 million at a blended net initial yield of 6.8%

September 2019

  • 1 million sq. ft portfolio acquired reflecting a net initial yield of 6.7%
  • Portfolio valuation of £438.7 million

October 2019

  • Acquired a 20 unit multi-let estate for a total consideration of £15.5 million reflecting a net initial yield of 6.6%

January 2020

  • Secured a new five-year £220.0 million debt facility with a club of four banks

March 2020

  • Disposed of 12 smaller or non-core assets for a combined consideration of £16.7 million at an average net initial yield of 6.6%, reflecting an 8.3% premium to 31 March 2019 book values

April 2020

  • Acquired Knowsley Business Park, opposite the existing Nexus estate for consideration of £7.9 million reflecting a net initial yield of 7.1%
  • Disposed of a further two warehouses for combined consideration of £1.0 million in line with 31 March 2020 book values

July 2020

  • Raised gross proceeds of £153.0m through a firm placing, placing, open offer, offer for subscription and intermediaries offer.