Urban Logistics NAV jumps 12.6% as rents soar

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Urban Logistics REIT has reported a 12.6% increase in net asset value and has nearly doubled its rental income in its latest financial results. The logistics specialist’s NAV per share rose to 137.96p in 2019 from 122.49p in the previous financial year. Its rental income jumped from £5.6m to £10.8m – a 93.6% increase. The company’s portfolio was valued at £186.4m. Chairman Nigel Rich said: “The group has delivered another strong performance over the financial period. “We undertook a capital raise in April 2018 of £20m and subsequently focused on investment and asset management activity. “The fundamentals of our market