Urban Logistics REIT plc
SHED.L
London Stock Exchange156.00
GBp
+0.40
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Urban Logistics REIT plc
SHED.L
(London Stock Exchange)
Recent
price
156.00
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Urban Logistics REIT plc (SHED.L) is a United Kingdom-based real estate investment trust (REIT) that specializes in the acquisition and active management of single-let, last-mile urban logistics properties, focusing on mid-sized warehouses between 20,000 and 200,000 square feet leased to institutional-grade tenants distributing essential goods such as Amazon, DHL, XPO Logistics, Royal Mail, Boots, Unipart, and Hermes; the portfolio comprises approximately 130 high-quality assets valued at £1.1 billion with 9.7 million square feet across key UK regions including the Midlands (37%), South East (29%), North West (12%), North East (10%), South West (6%), and Scotland (6%), generating contracted rent of £61.9 million and estimated rental value of £74.8 million with a 21% reversionary potential, a weighted average unexpired lease term of 7.5 years, and 60% of space achieving EPC A-B ratings through proactive sustainability enhancements. Founded in April 2016 as Pacific Industrial & Logistics REIT plc and renamed in March 2018, the company, headquartered in London, transitioned to the premium segment of the London Stock Exchange main market in December 2021 following a £250 million capital raise and has delivered sector-leading returns via its investment adviser Logistics Asset Management LLP (contract extended to 2027), emphasizing off-market purchases at 6.0-7.5% net initial yields, rigorous asset management including 35 lease events yielding £3.0 million in uplifts and 19% like-for-like rental growth, selective disposals at premiums to book value, and a conservative net LTV of 29.3% with 97% of interest costs fixed or hedged. Recent developments include the March 2025 acquisition of two logistics assets in Leeds and Liverpool for £21.1 million at a blended 7.34% net initial yield to recycle capital from prior sales, a withdrawn bid for abrdn Property Income Trust's logistics portfolio in early 2024, and its acquisition by LondonMetric Property plc in June 2025 for approximately £700 million in a cash-and-share deal that creates a £4.4 billion pro forma market cap entity enhancing scale in the triple-net urban logistics platform.