Financial highlights: As at 31 March 2018

11.91%

TOTAL
RETURN

 

Incorporating NAV growth and dividends paid, 49% above 8%+ target

 

107.67p

EPRA NAV PER SHARE

 

Increase of 9.87% from 98p at IPO

5.50p*

DIVIDEND TARGET 2018/19

 

Increase of 10% from IPO target

 

4.00p

DIVIDEND FOR

2017/18

 

Increase of 33.3% from IPO target

 

5.12p

ADJUSTED
EPS

 

4.20p EPRA EPS, both fully cover the 4.00p dividend

 

1.14%

TOTAL EXPENSE RATIO

 

Supporting shareholder returns

£278.9m

PORTFOLIO VALUATION

 

9.18% increase against acquisition costs of £255.4m

 

£138.2m

FUNDS RAISED
AT IPO

 

February 2017

 

£60.2m

FUNDS RAISED AT SECONDARY ISSUE

 

October 2017

30%

LTV


Comfortably below  35% medium term maximum

11.3

AVERAGE YEARS

DEBT MATURITY

Fixed low debt cost provides good visibility on dividend growth

2.90%

AVERAGE FIXED

DEBT COST PA

 

313 bps below average acquisition yield

Operational highlights: As at 31 March 2018

6.03%

AVERAGE ACQUISITION NIY

 

Against average valuation yield of 5.37%

24.4

YEAR WAULT

TO FIRST BREAK

 

Long leases yielding secure and predictable income

 

96%

INDEX-LINKED/FIXED UPLIFTS

 

Contracted rental income with embedded growth potential

 

£16.98m

TOTAL CONTRACTED RENT ROLL

 

100%

OCCUPANCY

 

Fully let or pre let to financially strong tenants

 

9

PROPERTY SECTORS

 

Assets are broadly diversified across defensive and robust sectors

25

STRONG
TENANTS

 

Yielding diversified income

and secure returns

 

84%

ACQUISITIONS

OFF MARKET

 

Reducing acquisition prices and providing value growth on purchase

*This is a target only and not a profit forecast and there can be no assurance that it will be met.