TIDMSREI 
 
For release 15 June 2020 
 
                 Schroder Real Estate Investment Trust Limited 
                      ("SREIT"/ the "Company" / "Group") 
 
                          INDUSTRIAL LETTING PROGRESS 
 
Schroder Real Estate Investment Trust, the actively managed UK-focused REIT, 
provides an update on recent asset management activity across its industrial 
portfolio. 
 
Since the year end at 31 March 2020, eight lettings, renewals and reviews have 
completed across the industrial portfolio with a total rent of GBP840,000 per 
annum.  This activity generated additional contracted rental income of GBP270,000 
per annum compared with the position at the year end.  This activity is 
outlined below. 
 
Leeds, Millshaw Industrial Estate (multi-let industrial estate) 
 
  * Lease renewal with Restore Plc for a new five year lease at a rent of GBP 
    250,000 per annum, or GBP4.84 per sq ft, compared with the previous rent of GBP 
    242,500. This represented a 3.1% increase. 
 
  * Rent review agreed with Camso UK Limited at a new rent of GBP19,800 per 
    annum, or GBP7.26 per sq ft, compared with the prior passing rent of GBP18,420. 
    This represented a 7.5% increase. 
 
Norwich, Union Park (multi-let industrial estate) 
 
  * New lease completed with Quentor Ltd for a 10 year term at a rent of GBP 
    189,175 per annum, or GBP4.79 per sq ft.  The unit was vacated by the 
    previous tenant in May 2020 who was paying GBP181,125 per annum. This 
    represented a 4.4% increase. 
 
  * Rent review agreed and simultaneous new six year lease completed with 
    ADI-Gardiner Limited resulting in a new rent of GBP18,500 per annum, or GBP5.51 
    per sq ft, compared with the prior passing rent of GBP17,000 or GBP5.06 per sq 
    ft. This represented a 8.8% increase. 
 
Milton Keynes, Stacey Bushes (multi-let industrial estate) 
 
  * Lease renewal with My Warehouse Limited in Unit 28 with new five year lease 
    at a rent of GBP82,943 per annum, or GBP7.00 per sq ft, compared with the prior 
    passing rent of GBP53,321 or GBP4.50 per sq ft. This represented a 55.6% 
    increase. 
 
  * Lease renewal with Vacuum Technologies Limited for a new five year lease at 
    a rent of GBP15,380 per annum, or GBP10.00 per sq ft, compared with the prior 
    passing rent of GBP10,766 or GBP7.00 per sq ft. This represented a 42.9% 
    increase. 
 
  * Rent review agreed with The Warehouse (Milton Keynes) Limited resulting in 
    a new rent of GBP37,464 per annum, or GBP7.00 per sq ft, compared with the 
    prior passing rent of GBP34,788 or GBP6.50 per sq ft. This represented a 7.7% 
    increase. 
 
Portsmouth, Walton Road (industrial) 
 
  * Rent review agreed with Codestorm Limited resulting in a new rent of GBP 
    225,000 per annum, or GBP8.36 per sq ft, compared with the prior passing rent 
    of GBP188,377. This represented a 19.4% increase. 
 
Balance sheet 
 
  * The Company has a strong balance with a net loan to value ratio of 23.7% as 
    at 31 March 2020 and current cash of GBP86 million. 
 
                                    -ENDS- 
 
For further information: 
 
Schroder Real Estate Investment Management   020 7658 6000 
Limited: 
Duncan Owen / Nick Montgomery / Frank 
Sanderson 
 
Northern Trust:                              01481 745529 
Lisa Garnham 
 
FTI Consulting:                              020 3727 1000 
Dido Laurimore / Richard Gotla / Meth 
Tanyanyiwa 
 
 
 
END

(END) Dow Jones Newswires

June 15, 2020 02:00 ET (06:00 GMT)

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