FY22 Financial Highlights
•
UK portfolio performance underpinned by stable operating metrics
Steady execution of strategic and timely asset management initiatives
Quality products and proactive asset management support robust portfolio metrics
•
Targeting growth sectors - attracted creative arts tenants with the leasing to a TV/film production
operator at Winnersh Triangle
Ongoing upgrading of portfolio through AEls - completed a ~12,000 sqm industrial development
at Hillington Park and refurbishment of 150 Farnborough Business Park comprising ~5,000 sqm
of Grade A office space
Ongoing strategic development activity
.
Construction almost complete, and marketing progressing well at The Rowe in Central London, a
~15,000 sqm office development project targeting the tech sector; expected completion 4Q 2022
Continued unlocking of embedded development value - exploring opportunities for further
industrial development to meet tenant demand across all UK business parks
Macro Drivers and Industry Trends
$
Bank of England increased interest rates by 215 bps
over the past ten months to 2.25% as at 31 October
2022 over concerns about government spending and
increasing inflation4
Healthy levels of office leasing activity across Greater
London and South East UK5
•
Commenced construction of Connexion 2 at Blythe Valley Park for FLCT, ~11,000 sqm of
industrial space
Continued growth of portfolio under management
.
Facilitated two forward funding acquisitions of prime warehouse and logistics developments by
FLCT, both targeting completion in FY23 and for a 15-year period:
Worcester Six, pre-let of 16,700 sqm to a leading UK flooring distributor, Alliance Flooring
Cheshire PC, pre-let of ~62,000 sqm to a leading UK auto distributor, Peugeot Motor
Company Plc
Including development projects and FLCT's UK assets, UK AUM is S$2.3 billion
Occupier demand in the UK industrial and logistics
market remains strong despite economic headwinds6
Portfolio Metrics
S$1.8 b
AUM1
AOR²
WALE³
FY22
FY21
Change
88.1%
90.6%
▼2.5 pp
5.9 years
6.0 years
▼ 1.7 %
1. Comprises seven business parks in the UK in which the Group has an interest, including assets held by FLCT. 2. Actual occupancy; by NLA. 3. By income. 4. bankofengland.co.uk/.
content.knightfrank.com/research/522/documents/en/investment-yield-guide-september-2022-9338.pdf. 6. jll.co.uk/en/newsroom/uk-industrial---logistics-take-up-hits-8-2-million-sq-ft-in-q2-2.
5.
We are Frasers Property
The Rowe, Central London UK
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