Integrated Platform & Sector-leading PortfolioA fully integrated operational platform and sector-leading portfolio create durable competitive advantages: scale in sourcing, distribution and customer service lowers unit costs, improves fill rates and strengthens supplier ties. These structural strengths support steady revenue generation and execution of growth plans over 2-6 months.
High Occupancy And Rental GrowthSustained 98.1% occupancy and positive like-for-like rental growth indicate stable, recurring cash flows and low vacancy risk. High occupancy supports predictable rental income, underpins dividend policy and reduces downside from market cycles, making earnings and cash generation more resilient over the medium term.
REIT Conversion Tax BenefitConversion to REIT status is a structural change that improves after-tax cash flow by eliminating corporation tax on qualifying rental profits. The GBP 15m first-year saving enhances recurring net rental income, boosts distributable cash and strengthens capacity for dividends and reinvestment over coming years.