REG - Value & Index Prop - Portfolio Update and 31 December 2025 Valuation

Value and Indexed Property Income TrustAnnouncement

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RNS Number : 6864M  Value and Indexed Prop Inc Tst PLC  05 January 2026

VALUE AND INDEXED PROPERTY INCOME TRUST PLC

 

PORTFOLIO UPDATE AND 31 DECEMBER 2025 PORTFOLIO VALUATION

 

Value and Indexed Property Income Trust PLC (VIP) continued its active
portfolio recycling and improvement strategy with the purchase of an
industrial property and the sale of a supermarket, and a lease extension over
the three months to 31 December 2025.

 

VIP bought a Heritable (Scottish equivalent of English Freehold) Driving Test
Centre in Dundee in December for £3 million at a net purchase yield of 8.5%.
The 2.9-acre purpose-built property is let to HM Government on a long full
repairing and insuring lease with five yearly RPI-linked rent reviews,
expiring in November 2050 with tenant options to break in 2035, 2040 and
2045.

 

The short-let M&S supermarket in Blandford Forum was sold in November for
£3.1 million, in line with valuation, at a net sale yield of 7.4%. At the
industrial property in Milton Keynes, the tenant's option to break the lease
was moved from 2030 to 2035, with the lease extended by 10 years to 2045, in
exchange for six months' rent free.

 

All 26 properties in the portfolio are freehold, and the portfolio's weighted
average unexpired lease term (WAULT) is now 13.8 years to the earliest break
options and 16.0 years to expiry. 100% of the portfolio's rental income is
index-related and/or on fixed increases, with an EPC (Energy Performance
Certificate) rating of A-C. Over the quarter to 31 December 2025, two
properties had five yearly index-related rent reviews, adding £0.28 million
to total rental income.

 

VIP continues to have no unlet properties and no offices. 29% of the portfolio
is in supermarkets, 22% warehouses/industrials, 14% garden centre, 10%
bowling, 10% hotels, 3% pubs and 12% other leisure.

 

Portfolio Valuation at 31 December 2025

The combined Savills and CBRE quarterly independent valuation of VIP's
property portfolio at 31 December 2025 totalled £132,700,000, at a net
initial yield of 6.7%. This compares with a portfolio valuation at 30
September 2025 of £132,300,000 (including Blandford Forum and excluding
Dundee) at a net initial yield of 6.5%. The total return over the quarter was
1.8% with an income return of 1.6% and a capital gain of 0.2%.  The garden
centre and health club increased in value over the quarter, with hotels down.
Supermarkets, industrials, pubs and bowling remained stable.

 

This total return for the quarter should be ahead of VIP's performance
benchmark, the MSCI UK Quarterly Property Index, and in line over the nine
months to 31 December 2025.

 

Further information can be found here:

https://www.olimproperty.co.uk/value-and-indexed-property-income-trust.html
(https://www.olimproperty.co.uk/value-and-indexed-property-income-trust.html)

 

Enquiries:

OLIM Property Limited, Investment Manager

Tel: 020 7846 3252

Sarah.martin@olimproperty.co.uk (mailto:Sarah.martin@olimproperty.co.uk)

Matthew.oakeshott@olimproperty.co.uk
(mailto:Matthew.oakeshott@olimproperty.co.uk)

Louise.cleary@olimproperty.co.uk (mailto:Louise.cleary@olimproperty.co.uk)

 

Maven Capital Partners UK LLP

Company Secretary

Tel: 0141 306 7400

 

5 January 2026

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