Our
Investment Proposition
We’re maximising long-term value for our shareholders.
Our strategy is rooted in a robust long-term vision, driving us to constantly innovate and transform our portfolio into sustainable, future-focused assets. But it doesn’t stop there. We see ourselves as more than landlords; we’re partners in progress.
By deeply understanding our occupiers aspirations and leveraging our geographical footprint, local expertise, and proactive management style, we craft tailored solutions that empower our customers’ businesses and communities to thrive. With this philosophy at our core, we are dedicated to maximising long-term value for our shareholders through strategic diversification, a hands-on management approach, and a continuous pursuit of sustainable property investment opportunities.
01A Clear Strategy
Diversified approach
This approach is across countries (we invest in major cities in Europe’s three largest economies), tenants (over 700 tenants spread across most sectors), and financing (loans with multiple different lenders).
Focus on multi-let commercial properties
Long-term investment in high yielding, commercial properties in London and the South East of the UK, and the larger cities in Germany and France.
Selected development schemes
Opportunities arise in the portfolio to carry out development projects to capture rental and capital growth; the amount of development is kept below 10% of the portfolio value at any one time.
Diversified approach
This approach is across countries (we invest in major cities in Europe’s three largest economies), tenants (over 700 tenants spread across most sectors), and financing (loans with multiple different lenders).
Focus on multi-let commercial properties
Long-term investment in high yielding, commercial properties in London and the South East of the UK, and the larger cities in Germany and France.
Selected development schemes
Opportunities arise in the portfolio to carry out development projects to capture rental and capital growth; the amount of development is kept below 10% of the portfolio value at any one time.
02Active management
Experienced in-house capabilities
In-house asset, property and facilities management teams result in closer asset knowledge, better cost control and synergies across the property portfolio.
Secure rents and high occupancy
Targeted occupancy levels above 95% by providing high-quality spaces at market prices and flexible lease terms to meet demand and drive above-market rental growth.
Interest rate management
Financing facilities, which are arranged in-house, seek to balance flexibility, diversity and maturity of funding whilst ensuring a low cost of debt which is targeted to be at least 200 basis points below the Group’s net initial yield.
Experienced in-house capabilities
In-house asset, property and facilities management teams result in closer asset knowledge, better cost control and synergies across the property portfolio.
Secure rents and high occupancy
Targeted occupancy levels above 95% by providing high-quality spaces at market prices and flexible lease terms to meet demand and drive above-market rental growth.
Interest rate management
Financing facilities, which are arranged in-house, seek to balance flexibility, diversity and maturity of funding whilst ensuring a low cost of debt which is targeted to be at least 200 basis points below the Group’s net initial yield.
03Strong track record
Disciplined approach to investment
Acquisitions are assessed against strict return and strategic fit criteria but are pursued on an opportunistic and property by property basis with no set capital allocation across countries. Low yielding assets with limited potential are constantly being assessed for disposals.
Cash-backed progressive dividend
CLS is a total return business using cash flow generated to pay a progressive dividend and also to reinvest in the business to generate further net asset growth. We aim to grow the dividend in line with the growth of the business, targeting the dividend to be within a range of 1.2 to 1.6 times EPRA earnings
Financing headroom
Our aim is to keep at least £100 million of cash and undrawn facilities. This approach gives the ability to move quickly to complete acquisition opportunities as well as the flexibility to secure the optimal financing solution.
Disciplined approach to investment
Acquisitions are assessed against strict return and strategic fit criteria but are pursued on an opportunistic and property by property basis with no set capital allocation across countries. Low yielding assets with limited potential are constantly being assessed for disposals.
Cash-backed progressive dividend
CLS is a total return business using cash flow generated to pay a progressive dividend and also to reinvest in the business to generate further net asset growth. We aim to grow the dividend in line with the growth of the business, targeting the dividend to be within a range of 1.2 to 1.6 times EPRA earnings
Financing headroom
Our aim is to keep at least £100 million of cash and undrawn facilities. This approach gives the ability to move quickly to complete acquisition opportunities as well as the flexibility to secure the optimal financing solution.
04A focus on sustainability
Responsible profit
Across our business model, in everything we do, we seek to generate responsible profit through employing sustainable long-term decisions with the environment in mind.
Strong ESG performance
We believe in full transparency and therefore continually measure our progress against global ESG benchmark schemes in our industry, such as GRESB. This also allows us to monitor our progress and gives our stakeholders confidence in our delivery against our published targets.
Climate risk mitigation
Our in-house sustainability programme is focused on mitigating our impact on environmental climate risks and energy security whilst maximising the benefits we deliver to the communities in which we are involved.
Responsible profit
Across our business model, in everything we do, we seek to generate responsible profit through employing sustainable long-term decisions with the environment in mind.
Strong ESG performance
We believe in full transparency and therefore continually measure our progress against global ESG benchmark schemes in our industry, such as GRESB. This also allows us to monitor our progress and gives our stakeholders confidence in our delivery against our published targets.
Climate risk mitigation
Our in-house sustainability programme is focused on mitigating our impact on environmental climate risks and energy security whilst maximising the benefits we deliver to the communities in which we are involved.
2024 Annual report & accounts
Latest information can be downloaded here.
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