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A strategically focused portfolio

Atlantic Leaf is an income-focused UK REIT, targeting industrial and logistics property in strategic regions and sectors of the United Kingdom. The company’s primary objective is to provide suitable returns to investors through long-term investments in quality real estate assets which have sound property fundamentals, stable income profiles and good prospects for capital growth.

Atlantic Leaf enhances shareholder returns by employing gearing, in the form of low-cost bank debt. A degree of leverage is used to provide attractive returns while maintaining an acceptable risk profile.

The company seeks to facilitate further value creation by evaluating and implementing strategic asset management plans for each property. This may involve new lettings and lease extensions, refurbishments, and developments, among other activities. Asset management potential is a key consideration when assessing acquisition opportunities.

The following criteria are considered in evaluating each new investment opportunity:
  • Quality, location and durability of assets;
  • Core sustainable income flows, existing and projected occupancy rates and tenant covenant strength;
  • Opportunities for asset enhancement through active management, including new lettings, refurbishment and development;
  • Rental yield spread relative to fixed rate borrowing costs and key valuation and financing metrics; and
  • Proper evaluation of risk factors, including security of income, tenant covenants, residual values, the physical condition of properties, loan-to-value and interest covenants and maturity profiles in respect of leveraged purchases.
Occupancy across
the portfolio
97.3%
Strong tenant covenants
81.2%
rated as “minimum risk” or “lower than average risk” by a leading UK credit agency
WALT
8.67 years
to expiry and 6.48 years
to the break

Portfolio details as at 28 February 2020

AUM
GBP 338MILLION
NO OF PROPERTIES HELD DIRECTLY
51
GROSS LETTABLE AREA (FT2)
4.82MILLION
FORWARD ASSET YIELD
7.05%
Regional split
by value
map

Tenant classification by income

Sector split by value

INDUSTRIAL
Office
Retail
Booker portfolio
  • Location: Nationwide
  • Occupier: Booker
  • No. of properties: 28
  • Total GLA (ft2): 1 603 508
Halfords
  • Location: Redditch, West Midlands
  • Occupier: Halfords
  • No. of properties: 1
  • Total GLA (ft2): 357 541
Epwin portfolio
  • Location: Nationwide
  • Occupier: Epwin
  • No. of properties: 4
  • Total GLA (ft2): 381 511
Smurfit Kappa
  • Location: Chesterfield, East Midlands; Wetherby, Yorkshire and the Humber
  • Occupier: Smurfit Kappa
  • No. of properties: 2
  • Total GLA (ft2): 209 716
Deacon Park
  • Location: Knowsley, North West
  • Occupier: B&M, Serco
  • No. of properties: 1
  • Total GLA (ft2): 574 078
Buffaload Logistics
  • Location: Crewe, North West
  • Occupier: Buffaload Logistics
  • No. of properties: 1
  • Total GLA (ft2): 204 128
Koito
  • Location: Droitwich Spa, West Midlands
  • Occupier: Koito
  • No. of properties: 1
  • Total GLA (ft2): 177,694
Kerry Logistics
  • Location: Manchester, North West
  • Occupier: Kerry Logistics
  • No. of properties: 1
  • Total GLA (ft2): 62 429
Lockwood
  • Location: Denby, East Midlands
  • Occupier: Lockwood
  • No. of properties: 1
  • Total GLA (ft2): 108 786
Assa Abloy
  • Location: Wolverhampton, West Midlands
  • Occupier: Assa Abloy
  • No. of properties: 1
  • Total GLA (ft2): 120 341
Cassellie
  • Location: Leeds, Yorkshire and the Humber
  • Occupier: Cassellie
  • No. of properties: 1
  • Total GLA (ft2): 91 832
McBride
  • Location: St Helens, North West
  • Occupier: McBride
  • No. of properties: 1
  • Total GLA (ft2): 109 556
Gestamp
  • Location: Cannock, West Midlands
  • Occupier: Gestamp
  • No. of properties: 1
  • Total GLA (ft2): 165 095
Law Distribution
  • Location: St Helens, North West
  • Occupier: Law Distribution
  • No. of properties: 1
  • Total GLA (ft2): 144 997
Nuneaton
  • Location: Nuneaton, East Midlands
  • Occupier: Booker
  • No. of properties: 1
  • Total GLA (ft2): 88 129
DHL - Sold
  • Location: Runcorn, North West
  • Occupier: DHL
  • No. of properties: 1
  • Total GLA (ft2): 635 656
  • Sold on 28 February 2020 / realising an IRR since acquisition of over 16%
Santander
  • Location: Newcastle, North East
  • Occupier: Santander
  • No. of properties: 1
  • Total GLA (ft2): 102 650
Lynchwood House
  • Location: Peterborough, East Anglia
  • Occupier: Bauer
  • No. of properties: 1
  • Total GLA (ft2): 177 621
EE
  • Location: Greenock, Scotland
  • Occupier: EE
  • No. of properties: 1
  • Total GLA (ft2): 64 014
E.ON
  • Location: Coventry, West Midlands
  • Occupier: E.ON
  • No. of properties: 1
  • Total GLA (ft2): 48 545
B&M
  • Location: Brecon, Wales
  • Occupier: B&M
  • No. of properties: 1
  • Total GLA (ft2): 25 028