REG - AEW UK REIT PLC - Tenant update

Aew UK ReitAnnouncement

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RNS Number : 9411W  AEW UK REIT PLC  17 March 2026

17 March 2026

 

 

AEW UK REIT plc ("AEWU" or the "Company")

 

Tenant update

 

AEW UK REIT plc ("AEWU" or the "Company") notes the announcement made on 16
March 2026 that National Car Parks Limited ("NCP") has appointed joint
administrators. The Company owns one property, Tanner Row in York, where NCP
is a tenant, representing 78 per cent. of the annual rent currently received
from this property. The Company is in the process of obtaining additional
information from the administrator, who, in their initial statement notes that
they will continue to trade the business for the time being, with no immediate
changes to the day-to-day operations.

 

As at 31 December 2025, annual rental income due to the Company from NCP
totalled £733,057 and represented 3.7% of AEWU's total contracted income
(equivalent to approximately 0.11 pence per share per quarter). All amounts
due to the Company by NCP for the December quarter have been paid however,
given the timing of the administration, the earnings impact for the quarter
ending 31 March 2026 will be assessed. As at 31 December 2025, Tanner Row,
York was valued at £9.45m, representing 4.5 per cent of the Company's total
portfolio value.

 

The mixed-use property at Tanner Row is centrally located within the York city
walls. The 0.8 acre site is expected to be of interest to other operators as
well as alternative uses, in the event that NCP should vacate, especially due
to the land constrained nature of the location. The asset was purchased by the
Company on 19 July 2023 for the price of £10.02m reflecting a net initial
yield of 9.3%.

 

Further information will be provided as part of the Company's quarterly
shareholder update or sooner if further material information is made
available.

 

 

 

ENDS

 

AEW UK

 Laura Elkin                        laura.elkin@eu.aew.com

 Henry Butt                         henry.butt@eu.aew.com (mailto:henry.butt@eu.aew.com)

 AEW Investor Relations             investor_relations@eu.aew.com

 Company Secretary
 MUFG Corporate Governance Limited  aewu.cosec@cm.mpms.mufg.com

 Cardew Group                       AEW@cardewgroup.com (mailto:AEW@cardewgroup.com)
 Ed Orlebar                         +44 (0) 7738 724 630

 Tania Wild                         +44 (0) 7425 536 903

 Henry Crane                        +44 (0) 7918 207 157

 Panmure Liberum
 Darren Vickers                     +44 (0) 20 3100 2222

 

 

 

LEI: 21380073LDXHV2LP5K50

 

 

About AEW

 

AEW is one of the world's largest real estate asset managers, with €73.4bn
of assets under management as at 30 September 2025. AEW has over 830
employees, with its main offices located in Boston, London, Paris and
Singapore and offers a wide range of real estate investment products including
comingled funds, separate accounts and securities mandates across the full
spectrum of investment strategies. AEW represents the real estate asset
management platform of Natixis Investment Managers, one of the largest asset
managers in the world.

As at 30 September 2025, AEW managed €35.6bn of real estate assets in Europe
on behalf of a number of strategies and separate accounts. AEW has over 515
employees based in 12 offices across Europe and has a long track record of
implementing core, value-add and opportunistic investment strategies on behalf
of its clients. In the last five years, AEW has invested and divested a total
volume of circa €14.0bn of real estate across European markets.

www.aew.com (http://www.aew.com)

AEW UK Investment Management LLP is the Investment Manager.  AEW is a group
of companies which includes AEW Europe SA and its subsidiaries as well as
affiliated company AEW Capital Management, L.P. in North America and its
subsidiaries. AEW Europe SA, together with its subsidiaries AEW UK Investment
Management LLP, AEW S.à.r.l., AEW Invest GmbH and AEW SAS, is a European real
estate investment manager with headquarter offices in Paris and London. AEW
Europe SA and AEW Capital Management, L.P. are owned by Natixis Investment
Managers. Natixis Investment Managers is an international asset management
group based in Paris, France, that is principally owned by Natixis, a French
investment banking and financial services firm. Natixis is principally owned
by BPCE, France's second largest banking group.

Disclaimer

This communication cannot be relied upon as the basis on which to make a
decision to invest in AEWU. This communication does not constitute an
invitation or inducement to subscribe to any particular investment. Issued by
AEW UK Investment Management LLP, 8 Bishopsgate, London, EC2N 4BQ.

Company number: OC367686 England. Authorised and regulated by the Financial
Conduct Authority.

 

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