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Interim report and financial statements for the half year ended 31 December 2025 (the “Period”)

Download

NAV increased 1.0% over the Period

For the Period: Share price total return of +2.7% and unaudited NAV total return of +3.8%

On track to deliver target annual dividend of no less than 5.6 pence per share [A] (“pps”) for the financial year ending 30 June 2026

Resilient portfolio, well placed to continue to provide secure, index-linked income with the potential for capital growth

 

The Board of Directors of Alternative Income REIT plc (ticker: AIRE), the owner of a diversified portfolio of UK commercial property assets predominantly let on long leases with index-linked rent reviews, is pleased to announce its interim report and financial statements for the half year ended 31 December 2025 (the “Period”).

Simon Bennett, Non-Executive Chairman of Alternative Income REIT plc, comments:

“The Company is on track to deliver an annual dividend target of no less than 5.6 pence per share [A] (“pps”) for the year ending 30 June 2026 (year ended 30 June 2025: 6.2 pps), which is expected to be fully covered subject to the continued collection of rent from the Group’s property portfolio as it falls due. The resetting of the dividend target this year, which is lower than the previous year, is entirely due to increase in financing costs of the new long-term debt facilities.

On a like-for-like basis, contracted annualised rent grew by 0.7% in the Period, predominantly because of the index-linked rent reviews in Salford, Brough and Solihull. 92.1% of the leases within the portfolio are index-linked, with 38.0% of contracted rental income being reviewed annually.

Following the sale of the Group’s petrol filling station in Crawley (“Crawley”) in October 2025, at 31 December 2025, the Group owned 19 properties valued at £103.5 million (30 June 2025: 20 properties: £107.4 million).

At 31 December 2025, the Group’s unaudited Net Asset Value was £68.0 million, or 84.48 pps (30 June 2025: £67.3 million, or 83.64 pps), representing a 1.0% increase over the Period. When combined with the two interim dividends paid in the Period of 2.95 pps, this produced an unaudited NAV total return for the Period of 3.84%.

On 20 October 2025 the Group completed new long-term debt facilities with HSBC UK Bank plc (the ‘New HSBC Bank Facilities’) of £41 million, when the previous senior loan matured. The New HSBC Bank Facilities consist of a term loan of £31 million and a £10 million revolving credit facility, both on floating rates for a fixed term of five years with an option to extend by two years if mutually acceptable.

The Board remain confident that the Company is well-positioned for the future, with a portfolio that continues to deliver secure, index-linked income and which has the potential for capital growth as the property market recovers.”

For the results announcement and interim report see Download (above, right).

[A] This is a target only and not a profit forecast. There can be no assurance that the target will be met and it should not be taken as an indicator of the Company’s expected or actual results.

The Company’s LEI is 213800MPBIJS12Q88F71.

Further information on Alternative Income REIT PLC is available at www.alternativeincomereit.com¹.

1 Neither the content of the Company’s website, nor the content on any website accessible from hyperlinks on its website or any other website, is incorporated into, or forms part of, this announcement nor, unless previously published on a Regulatory Information Service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.

NOTES

Alternative Income REIT PLC aims to generate a sustainable, secure and attractive income return for shareholders from a diversified portfolio of UK property investments, with a particular focus on alternative and specialist real estate sectors. The majority of the assets in the Group’s portfolio are let on long leases which contain index linked rent review provisions.

The Company’s asset manager is Martley Capital Real Estate Investment Management Limited (“Martley Capital”). Martley Capital is a full-service real estate investment management platform whose activities cover real estate investing, lending, asset management and fund management. It has circa 40 employees across five offices in the UK and Europe. The team manages assets with a value of circa £1 billion across 30 mandates (at 31 December 2025).

Enquiries

Alternative Income REIT PLC
Simon Bennett – Chair
via AIRE’s Company Secretary, Hanway Advisory:
+44 (0)207 409 0181
or by email:
aire.cosec@jtcgroup.com

Martley Capital Real Estate Investment Management Ltd
Richard Croft
Jane Blore
+44 (0)20 4551 1240

Panmure Liberum Limited
Alex Collins
Tom Scrivens
+44 (0)20 3100 2000

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