Warehouse REIT

Warehouse REIT is a property company which invests in the provision of warehousing. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Warehouse REIT

Company type	Public limited company
Traded as	LSE: WHR
Industry	Property
Founded	2013; 12 years ago (2013)
Headquarters	London, United Kingdom
Key people	Neil Kirton (chairman)
Revenue	£47.2 million (2024)[1]
Operating income	£55.6 million (2024)[1]
Net income	£34.3 million (2024)[1]
Website	www.warehousereit.co.uk

History

The company was established by Tilstone Partners in June 2013 and was launched on the Alternative Investment Market in September 2017 raising £150 million.^[2][3]

It went on to buy a portfolio of 51 warehouses from Hansteen Holdings for £116 million in February 2018.^[4]

In April 2019, it bought a warehouse in Northampton, let to the John Lewis Partnership, and a warehouse in Aberdeen, let to various tenants, for £37 million.^[5]

In July 2020, it raised a further £150 million and immediately began deploying the proceeds on the purchase of further warehouses.^[6]

In September 2020, the company acquired an Amazon Fulfilment Centre in Chesterfield from Tritax Big Box REIT for £57 million.^[7]

The company raised a further £46 million in February 2021 and used some of the money raised to buy two warehouses in Harlow.^[8]

The company moved to the main market of the London Stock Exchange in July 2022.^[9][10][11]

Operations

The company specialises in warehousing. It is managed by Tilstone Partners and lets the properties to logistics and retail businesses. Its main tenants include Amazon, the John Lewis Partnership and DFS Furniture.^[12] Its portfolio was valued at £0.8 billion as at 31 March 2023.^[1]