Walls & Futures REIT plc (“WAFR”) today, became the first Real Estate Investment Trust (REIT) to be admitted on the ISDX Growth Market.
The Company offers investors an opportunity to gain exposure to the residential property market without the complications of direct investment in property. The aim is to provide shareholders with a sustainable income stream and long-term capital growth by investing in UK residential property. The Company builds on the 5 year track record of the Walls & Futures London Growth Fund LP, which generated a gross un-geared return of 41.7 % over the period.
REITs are tax efficient as they are exempt from capital gains and corporation tax on property investments and pay out 90% of property income as dividends to shareholders. The target is to deliver a long-term annual return of 7-9% including a running yield of 3-4%.
The strategy is to invest in cities and towns across the UK. There will be an emphasis on acquiring assets that can be developed or redeveloped to create value and enhance yields. The initial focus will be on the provision of residential housing for the Private Rented and Supported Housing Sector, providing a blend of capital growth and higher yielding assets.
Joe McTaggart, chief executive of Walls & Futures REIT plc said
“After careful consideration, we selected ISDX as it was both cost effective and provided the regulatory framework for REIT status. Additionally ISDX offers liquidity and a trading platform that enables us to raise finance for our future growth.”
David Battle Managing Director Markets ISDX said
“We are delighted that Walls and Futures has chosen ISDX as their venue for this REIT and we look forward to seeing them grow. We are confident that more REIT’s will be attracted to ISDX as they follow the success of Walls and Futures’