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Investing Strategy
Generate increasing total returns for Shareholders
The Company's principal objective is generating total returns for Shareholders primarily through capital appreciation in the Group's portfolio. It seeks to achieve this by investing in a sufficiently large portfolio of commercial real estate assets in Germany, with a primary focus on retail assets, covering a large variety of tenants and a wide geographical area.
The Company's target payout ratio is 90% of the Distributable Profit Pool, which will be distributed to Shareholders through semi-annual dividends.
From time to time, the Directors, upon the realisation of assets, will give appropriate consideration to the return of capital to Shareholders. The Directors will also consult with Shareholders regarding proposals for an orderly realisation of the assets of the Group if at any time the Directors consider that such proposals would be in the best interests of Shareholders.
Enhance rental and capital growth through active portfolio management
The property assets acquired by the Group are actively managed with the aim of enhancing rental and capital growth. The Group seeks to generate enhanced value through active portfolio management and leveraging existing tenant relationships when new contracts are negotiated.
The Group, through the subsidiary company asset manager, seeks to generate value through:
- Development of individual asset-level management strategies in order to identify value enhancement potential;
- Increasing occupancy levels of properties through its contact with potential tenants (e.g. larger retailers that may not have a presence in a particular location) and on-the-ground presence;
- Re-configuration of certain properties (e.g. relocating certain tenants in order to maximise footfall through shopping centres or enhancing tenant mix);
- Identification of redevelopment/refurbishment opportunities (e.g. re-zoning former industrial units to permit conversion to retail park space which has the potential to provide rental income and capital value increases);
- Negotiation of lease expiries /renewals /rent reviews/lease extensions in order to enhance the rental income profile/income quality for particular properties; and
- On an asset by asset basis, undertaking performance analysis of the various assets (e.g. timeliness of rent collection and rapid resolution of tenant issues).