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Oversubscribed £250 million fundraise

Singer Capital Markets is delighted to have acted as Sponsor, Joint Broker and Joint Bookrunner to Urban Logistics REIT plc (‘SHED’) on its oversubscribed fundraise of £250 million and Admission to the Premium Segment of the Main Market.

As a result of a significantly oversubscribed Initial Placing, Offer for Subscription and Intermediaries Offer, the Board of Urban Logistics REIT, a specialist UK logistics REIT, determined to increase the size of the Issue from £200 million to £250 million.

A total of 147,058,824 New Ordinary Shares have been issued pursuant to the Issue at a price of 170 pence per New Ordinary Share, of which 129,395,686 New Ordinary Shares have been issued pursuant to the Initial Placing and 17,663,138 New Ordinary Shares have been issued pursuant to the Offer for Subscription and Intermediaries Offer.

The net proceeds of the Issue are intended to be used to acquire properties that meet the Company’s investment policy from a significant pipeline of high-quality logistics assets in excess of £400 million.

Urban Logistics entire issued share capital will be admitted today (07/12/2021) to listing on the premium segment of the Official List maintained by the FCA and to trading on the premium segment of the London Stock Exchange’s Main Market

Richard Moffitt, Chief Executive of Urban Logistics REIT plc commented:

“As tenants look to secure long-term supply chain infrastructure, the “last mile” or “last touch” sector continues to feature as a key and growing part of occupational demand. With 93 properties in strategic logistics locations in the portfolio and with an attractive pipeline that we can now execute, Urban Logistics has strengthened its market-leading position in this important segment of the market. The amount of capital that we have raised reflects our disciplined approach to date and we look forward to updating investors on our progress with new acquisitions and our ongoing asset management initiatives in due course.”

Nigel Rich CBE, Independent Non-Executive Chairman, said:

“Urban Logistics remains the only London listed REIT with a pure focus on last mile / last touch logistics properties. This £250 million Issue is a further endorsement of this strategy and we are extremely grateful to both our existing and new shareholders for their support in this capital raise.”

“We are delighted to be joining the premium segment of the Main Market, an ambition of the Company’s since floating on AIM in 2016. As the only London listed REIT with a pure focus on last mile / last touch logistics properties, we have a strong platform and ambitious strategy for further growth and we see today’s achievement as the next exciting chapter in the Company’s development.”

About Urban Logistics REIT plc

Urban Logistics REIT plc is a property investment company, trading on the premium segment of the London Stock Exchange’s Main Market.

The Company has been established to invest in UK-based logistics properties with the objective of generating attractive dividends and capital returns for its shareholders. Its investment strategy focuses on strategically located smaller single let properties servicing high-quality tenants. Investment returns will be generated by an experienced management team focusing on quality stock selection and active asset management.

A number of structural and commercial factors currently support the attractive opportunity in the last mile/regional industrial and logistics real estate sub-sectors targeted by the Company, including: strong occupier demand, (driven by the growth of e-commerce and investment by retailers in their associated supply chain) and a decline in the supply of smaller sized lettable space in industrial and logistics real estate across the UK.

Ticker: SHED

Market Cap: £850 million*

Website: Click here

*As at 07/12/2021

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