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Has all the value disappeared from commercial property?

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by Robert St George on Feb 13, 2014 at 15:51

Has all the value disappeared from commercial property?

Michael Morris, manager of the Picton Property Income trust, tells Wealth Manager that the re-rating of property trusts’ shares is not the end of the story.

The average constituent of the UK Direct Property sector now trades on a 13% premium to its net asset value (NAV), but Morris argues that NAV growth – although it won’t be spectacular – can support those valuations.

Picton Property Income has returned 69% over the past year and 533% on a five-year view, compared with peer-group averages of 33% and 223% respectively over the same periods.

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