London Stock Exchange welcomes Urban Logistics REIT to the Main Market

London Stock Exchange today welcomes Urban Logistics REIT (“SHED” or the “Company”) to the premium segment of the London Stock Exchange Main Market following the completion of its transition from the Alternative Investment Market (“AIM”).

The Company, having now fully deployed or committed £132 million of capital following the Company’s July fundraising, has identified a further pipeline of high quality, last mile logistics assets, strategically located in targeted logistics hubs, totalling in excess of £400m. On, Thursday 2 December, the Company announced it had raised a further £250 million through a significantly oversubscribed Issue, highlighting the substantial demand from investors, allowing the Company to execute on this pipeline.

Since its initial IPO on AIM in April 2016, SHED’s unique portfolio of last-mile warehouses have been identified as an increasingly important area of the warehouse property sector. This profitable area has been further highlighted in the last couple of years by the supply chain issues, which have resulted from both Brexit and COVID-19. As of September 2021, the steady and consistent growth of the Company’s portfolio of 91 logistics assets, covering 5.8 million sq.ft, reflects this growing demand for last-mile logistics assets and the prime position in which the Company finds itself.

This expansion, which has seen the Company’s market cap rise to over £800m, now justifies a move to the Main Market, which the Directors believe is in the best interest of the Company and the Shareholders in terms of future fundraises, diversifying the shareholder register as well as media and analyst attention.

Quick facts

Market: Main Market
Instrument market cap (£m)
Listing/Admission to trading
13 Apr 2016

Richard Moffitt, Chief Executive, said:

Last mile or last touch logistics properties are an increasingly important part of the supply chain and we have put ourselves in a market leading position. We have sourced a highly attractive pipeline of strategically located properties which fit our investment focus and will enhance our overall portfolio.

The UK urban logistics and distribution markets have undergone a permanent paradigm shift since the COVID-19 pandemic began, with supply chain security and a ‘just in case’ approach replacing the ‘just in time’ philosophy of previous years. Our portfolio and the pipeline we have sourced offer exactly what tenants are seeking in terms of location, size and quality. We are confident that this pipeline will offer compelling opportunities for value enhancement through active asset management initiatives.

We look encouragingly towards this next chapter in the Company’s growth, which will see us become a constituent of the FTSE 350, making the fund investable to a wider universe of investors, while supporting SHED’s future fundraising plans.”

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