Building trust through our track record and our conduct
Q1 2024 Update
The first quarter of 2024 has seen continued momentum for the Fund. We reached practical completion on Two and Three Wilton Park, bringing our total contracted rent in the portfolio to a new record of €146.6 million per annum. As a result of strong operational performance and agreeing a number of new lettings, we delivered a cash dividend of €25.6 million or €11.50 per share in Q1. We believe that the value adjustment in our portfolio will be largely complete by mid-year and we’re well positioned to benefit as markets move into recovery during H2 2024.
2023 Year in Review
We pride ourselves on providing the very best workplaces in Europe - not just for our shareholders and occupiers, but also for our neighbours, our city and our planet. We look on every investment and development project as an opportunity to add joy and vibrancy to the daily lives of the people who work there, and positively contribute to the wider local community by regenerating and revitalising our city.
2023 Financial Statements
Despite the macroeconomic backdrop and the interest rate-fuelled capital value movements in our sector during 2023, we achieved full rent collection, added €6.5 million in new rental income, and paid a dividend of €107 million, all while maintaining one of the lowest loan-to-value rates in the industry.
Outperforming industry benchmarks
We have outperformed the MSCI Total Property Return benchmark across the last 20 years, demonstrating our consistent ability to deliver value for our shareholders.
2022 Responsibility Report
Our 2022 Responsibility Report outlines the progress we have made in developing and managing an increasingly sustainable portfolio.
