17 July 2013

UK Commercial Property Trust Limited ("the Company")

DEALINGS IN CLOSE PERIOD

"In accordance with Listing Rule 15.5.1(4), the Company is satisfied that all inside information which the Directors and the Company may have up to the announcement of the interim results for the half year ended 30 June 2013 has previously been notified to a Regulated Information Service. Accordingly, dealings referred to in Listing Rule 15.5.1(3) are permitted."

Not quite sure what prompted that announcement, but very heavy volume accompanied it! In fact a single trade of 52m shares!

In fact a single trade of 52m shares!

Presumably something to do with:
"In accordance with requirements of the London Stock Exchange Listing Rule 9.6.11, UK Commercial Property Trust Limited announces that Mr Keith Dorrian, a non-executive Director, has informed the company that he has retired as a Director of the Board of UK Commercial Property Trust Limited, effective 19 June 2013."

UK Commercial Property Trust Limited (LSE: UKCM), the largest UK focused, Guernsey based, commercial property trust, announces its Interim results for the half year ended 30 June 2013.

Financial Highlights
· NAV per share of 68.9p (31 December 2012: 69.6p), a fall of 1.2% predominantly caused by 0.4% like for like decline in value of property portfolio;
· NAV total return of 2.8% in six month period to 30 June 2013, underpinned by strong income return from the portfolio;
· Robust share price performance with a total return of 20.2% in the period, ahead of the IPD benchmark, FTSE REITs Index and also FTSE All-Share Index;
· Consistent longer term outperformance with 5 year share price and NAV total return both comfortably ahead of the IPD benchmark;
· Gross gearing of 21.6% continues to be the lowest in the Company's peer group;
· Attractive dividend yield of 6.9%, underpinned by quality portfolio of diversified properties and significantly above that of the FTSE REIT Index (3.7%) and the FTSE All-Share Index (3.5%).

Property Highlights
· Existing resources deployed in the acquisition of a multi-let industrial estate at Newton's Court, Crossways Business Park, Dartford, Kent for £17.93 million at a net initial yield of 6.4% enhancing the income generating capacity of portfolio;
· Sale of 2-8 Buchanan Street, Glasgow for £10.45 million and, post the period end, 84-86 Bushey Road, Raynes Park for £7.25milion with sales proceeds exceeding year end valuations;
· Successful asset management efforts in new lettings, rent review settlements, lease restructuring, as well as purchases, delivered an additional £2.6 million annualised income over the first half of the year including:
- Lettings to Costa Coffee and PaddyPower at The Parade, Swindon generating annualised income of £142,000 improving tenant mix and void position;
- Lease re-gears involving existing tenants at Dolphin Industrial Estate have resulted in additional income of £162,000 per annum after rent free periods improving lease length and income security within the Estate;
- Rent review uplifts achieved at High Street Kensington, London and Kew Retail Park, Richmond resulting in additional annual income of £64,000;
· Void rate of 5.6% at period end compared to benchmark figure of 10.0%, testament to the prime nature of the Company's portfolio and continued successful asset management activity;
· Strong rent collection rates of 98% after 28 days underlining the strong tenant base.

Commenting on the results, Chris Hill, Chairman of UKCPT, said:
"The strong results reported today reflect not only the high quality nature of our portfolio and the active asset management undertaken by our team of experienced managers, but also a broader improvement in sentiment across the UK economy and real estate sector, and signs of enhanced occupier demand. Having delivered resilient performances during the very challenging economic conditions of recent years, UKCPT is now well positioned to benefit from an improving market. We will continue to focus on maximising income and valuation across the portfolio, while identifying acquisitions which we believe will support our strategy."

StockMarketWire.com
Liberum Capital cuts UK Commercial Property to sell from hold, target 69p from 68p.

Third Interim Dividend for 2013
UK Commercial Property Trust Limited today announces its third interim dividend payment, in respect of the financial period from 1 July to 30 September 2013, of 1.3125 pence per share as per the schedule below.


Ex-Dividend Date - 13 November 2013

Record Date - 15 November 2013

Pay Date - 29 November 2013

Interim Management Statement for the three month period from 1 July 2013 to 30 September 2013

http://www.moneyam.com/action/news/showArticle?id=4700300

StockMarketWire.com
UK Commercial Property Trust has swung to a FY pretax profit of £96.1m, from the prior year's loss of £4.9m. Total income was $121.1m, from £16.9m.

The company has rebased its dividend policy to a sustainable level going forward. From May, the dividend would be cut 30% to 3.68p a share, providing an attractive yield of 4.7%.

NAV per share was 73.1p at Dec. 31, 2013, from 69.6p, driven by portfolio capital growth, beneficial sale activity and a reduction in swap liabilities.

NAV total return was 13.2%, while the share price total return was 25.7% in the year, both outperforming the IPD Balanced Monthly & Quarterly Funds benchmark of 10.7%.

UKCPT has cash resources of £80m available for commitment at Aberdeen Gateway, Aberdeen, other income enhancing acquisitions and asset management opportunities

9 June 2015

UKCPT disposes of two retail assets for £82.7 million
-Divestment of 176-206 Kensington High Street, London and 134-138 North Street, Brighton-

UK Commercial Property Trust Limited (LSE: UKCM), the largest Guernsey based, UK focused, London listed commercial property investment company, which is advised by Standard Life Investments, announces that it has agreed to the sale of 176-206 Kensington High Street, London and disposed of 134-138 North Street, Brighton in two separate transactions for a total consideration of £82.7 million, which is marginally ahead of their aggregate valuation as at 31 March 2015. The assets have been deemed to be non-core to UKCPT's ongoing strategy and the sale proceeds are to be reinvested in selective institutional grade assets with a sustainable income focus.

UK Commercial Property Trust Limited (LSE: UKCM), the largest UK focused, Guernsey based, commercial property trust, announces its Interim results for the half year ended 30 June 2015.
· NAV per share of 85.4p (31 December 2014: 83.0p), a rise of 2.9% driven by 2.4% capital growth in the property portfolio which is now valued at £1.24 billion;

· NAV total return of 5.2% in the six month period to 30 June 2015, behind the MSCI benchmark (6.2%) but ahead of the FTSE All-Share Index (3.0%);

· Positive share price total return of 5.4% driven by the continued strong rating of the Company's shares which stood at a premium to NAV of 6.7% as at 30 June 2015, reflecting ongoing attractiveness of the asset class;

· Following debt refinancing, gross gearing of 18.5% (net 9.6%) and blended interest rate of 2.89%, both the lowest in the Company's peer group;

· Significant cash resources of £132 million available to invest;

· Attractive and secure dividend yield of 4.0%, supported by a high quality property investment portfolio, comparing favourably to yield on the FTSE REIT Index (2.8%) and the FTSE All-Share Index (3.5%);

Property Highlights
· Portfolio total return of 4.9% with all sectors delivering positive performance;

· In-line with portfolio strategy, extensive portfolio repositioning undertaken including the following:

· Sale of the Sovereign Centre, Weston-super-Mare, Pall Mall Court, Manchester, North Street, Brighton and Kensington High Street, London (post period end) for a combined consideration of £133 million, above that of valuation thereby reducing exposure to retail and removing assets with limited future return prospects;

· Post the period end, purchase of Eldon House for £28.6 million (including stamp duty), giving the Company exposure to the vibrant City of London office market and offering a number of asset management opportunities;

· Successful asset management activity in the period generating valuation and rental income increases during the first six months of the year including:

· Two new flagship stores for H&M created at The Parade, Swindon and High Street, Exeter on long term leases which maintains income and should result in future capital uplifts;

· Securing Primark as a new anchor tenant to The Charles Darwin Centre, Shrewsbury;

· Negotiating lease surrender with a tenant on George Street, Edinburgh to facilitate a new flagship letting to the Clydesdale Bank Plc generating a total return of 15.8% on this asset in the six month period;

· A void rate of 3.3% at 30 June 2015 compared to a benchmark figure of 6.9% plus strong rent collection rate of 99% after 28 days, affirming the prime nature of the Company's portfolio and testament to successful asset management activity.

Commenting on the results, Christopher Hill, Chairman of UKCPT, said:
"During the first half, UKCPT continued to deliver positive shareholder returns, albeit at a steadier pace than in 2014. The portfolio generated positive income and capital returns of 2.5% and 2.4% and the Investment Manager took advantage of the strong market to sell a number of assets which had limited future return prospects."

"Following the significant portfolio repositioning out of such properties, the current focus is to re-invest in assets that offer the potential, through the deployment of expert asset management, for a growing and sustainable income stream and capital appreciation. These assets are also expected to benefit from the strengthening of the UK economy, while still maintaining the prime nature of the portfolio. In the short term, this may mean acquisition costs and higher than normal cash levels impact performance. However, over the medium to longer term, we expect this strategy to continue to deliver the strong returns it has produced for shareholders since inception."

StockMarketWire.com
UK Commercial Property's H1 pretax profit has fallen to £27.3m, from £44.5m. Total income was £38.4m, from £64.4m.

"In a year which has so far been dominated by the political and economic uncertainty of the EU Referendum, UKCPT delivered a creditable performance in the first six months of 2016," said chairman Andrew Wilson.

"UK commercial real estate continues to provide a significant yield premium to other assets and, with lower gearing levels, higher occupancy rates and muted levels of new supply, the asset class should remain resilient.

"Furthermore, and whilst it is too early to point to any definitive trends post referendum, we have seen occupier demand in our own portfolio remain stable in most sectors."

Net asset value per share was at 86.5p on June 30, from 86.7p on Dec. 31, 2015. Dividend per ordinary share was 1.84p, unchanged.