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

113.0p

EPRA NAV PER SHARE

30 September 2018
Increase of 15.5% from 98p at IPO

5.50p*

DIVIDEND TARGET 2018/19

Increase of 10%
from IPO target

 

29%

LTV

30 September 2018 Comfortably below 35% medium term maximum

11 YEARS

AVERAGE

DEBT MATURITY

Fixed low debt cost provides good visibility on dividend growth

2.90%

AVERAGE FIXED

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

23

YEAR WAULT

TO FIRST BREAK

Long leases yielding secure and predictable income

97%

INDEX-LINKED/FIXED UPLIFTS

Contracted rental income with embedded growth potential

100%

OCCUPANCY

Fully let or pre let to financially strong tenants

9

PROPERTY
SECTORS

Assets are broadly diversified across defensive and robust sectors

29

STRONG
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.

LATEST NEWS

Results for the six months to 30 September 2018

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Six acquisitions, full equity deployment and new debt facility

13 November 2018

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Five acquisitions with a combined purchase price of £109 million

24 October 2018

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September 2018 Interim Report
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September 2018 Interim Results Presentation
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Weblink to September 2018 Interim Results Presentation
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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 UK Listing Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017.

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