London Stock Exchange welcomes Industrials REIT to the Premium Segment of the Main Market
London Stock Exchange welcomes Industrials REIT to the Premium Segment of the Main Market. The UK multi-let industrial (MLI) REIT announced this move in December 2021 and began trading on Premium Segment of the Main Market on 20 December. The Company is also listed on the Johannesburg Stock Exchange in South Africa and has migrated to a secondary listing on its main board.
Industrials REIT has built a £653.5 million portfolio consisting of MLI assets across densely populated towns and cities in the UK, with over 1,500 tenants operating across a diverse range of business activities. The Company recently announced strong financial results for the year ended 31 March 2022, reporting a record total accounting return of 25%, with its MLI portfolio achieving a like-for-like rental growth of 4.4% and like-for-like valuation growth of 20.8%. During the year it signed 265 new leases on over 1 million sq ft of space, delivering an average uplift in rent of 22% when compared to the previous passing rent. The financial year also marked the end of its four-year transition to a specialist MLI business.