UK Commercial Property Trust
UK Commercial Property Trust (LSE: UKCM) is a large British investment trust dedicated to investments in UK commercial properties. Established in 2006, the company is a constituent of the FTSE 250 Index. The Chairman is Christopher Hill. It invests in shopping centres, shops, office buildings and industrial estates and warehousing/distribution centres.
History
UKCPT was established in 2006 in Guernsey, prior to the introduction of REIT legislation in 2007, which made on-shore property investment companies more tax-efficient.
It acquired its initial portfolio of properties from Phoenix & London Assurance/Phoenix Life & Pensions Limited in 2007 for £503.6m; the portfolio was then yielding under 5%.[1]
Having launched near the top of the market, following the market downturn in 2007-2008, a merger with F&C Commercial Property Trust, a fellow FTSE 250 property company was proposed in 2010. This was narrowly rejected by 50.07% of shareholders.[2]
References
- ↑ UK commercial property trust acquires phoenix portfolio for £503m Property Magazine, 16 February 2007
- ↑ Knife edge vote ends merger to create UK property giant The Telegraph, 10 August 2010
External links
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