Urban Logistics REIT (SHED)

SHED is a real estate investment trust specializing in last-mile logistics used in supply chain fulfilment. The company focuses on ‘mid-box’ properties (20,000–200,000 square feet) near urban areas and key transport hubs. Since its IPO in 2016, Urban Logistics has grown its portfolio to 134 properties worth £1.2 billion, with a strategy centred on active asset management, value creation, and low-risk financing.In this podcast we speak to CFO/COO Jamie Waldegrave and CIO Justin Upton about how the company’s laser focus on last mile logistics property has helped it build its unique portfolio and reduce its cost of capital; how it puts its deep sector knowledge to use to acquire high-potential properties with the potential for major rental uplift through targeted refurbishments; the strength of its tenant base, and how it reduces downside risk by avoiding sectors like fast-fashion; and how poor sentiment towards the wider retail sector has created a major opportunity to tap into the significant dividend streams underpinned by sharp operational management and disciplined financial management.