VALUE AND INDEXED PROPERTY INCOME TRUST PLC - New purchases, portfolio update and 30 September 2026 portfolio valuation

VALUE AND INDEXED PROPERTY INCOME TRUST PLC provided a portfolio update, highlighting three acquisitions completed since the financial year-end at a combined net initial yield of 7.8%, expanding its exposure to cinema, crematorium and veterinary property assets. The acquisitions have increased contracted rental income to £10.6 million, with the portfolio independently valued at £143.7 million as at 30 September. The trust continues to demonstrate resilient performance, collecting 100% of rent with no vacant properties and maintaining a long average lease profile of 14.3 years to break and 16.4 years to expiry. Its diversified UK portfolio benefits from high-quality tenants and inflation-linked or fixed rental increases, with 88% of income linked to RPI and a further 9% to CPI. Ten rent reviews during the half year added £200,000 to annual rental income, while the net running yield stands at 6.9%. The trust also highlighted its long track record of dividend growth, having increased dividends annually since 1986, with a stated objective of growing distributions at least in line with CPI inflation while maintaining sustainable dividend cover. Its share liquidity and discount-control policy allows investors to sell shares back to the company at a 10% discount or purchase shares at a small premium, subject to market conditions. The trust remains conservatively financed, with loan-to-value of 38%, £65 million of long-term debt maturing in March 2033 and 96% of debt fixed at an interest rate of 4.9%. Total return for the six months was 3.8%, comprising a 3.6% income return and 0.2% capital growth, reinforcing the trust’s focus on dependable rental income, inflation protection and long-term shareholder returns.