5 May 2022

AEW UK REIT Plc

Manager Update

AEW UK REIT plc (LSE: AEWU) (“AEWU” or the "Company") announces that Alex Short has stepped down from her role as Joint Portfolio Manager of AEWU following her resignation from the Company’s investment manager AEW UK Investment Management LLP (“AEW UK”).

Laura Elkin continues as Portfolio Manager of the Company. Laura has played a central role in the AEW UK REIT team delivering value for shareholders since its launch in 2015, initially as Assistant Portfolio Manager and, since early 2020 as Joint Portfolio Manager. This has included identifying and leading the acquisition of the majority of the assets in the current portfolio and overseeing asset management initiatives. Laura will continue to be supported by the wider AEW UK REIT team including Henry Butt as Assistant Portfolio Manager and Director of Asset Management and Nick Winsley, Head of AEW UK.

Henry Butt has been closely involved in the REIT portfolio since 2015 and is the lead asset manager to the portfolio. Nick Winsley has 21 years of property investment experience and, in his capacity of Head of Investment since 2011, has overseen all the acquisitions made by the REIT.

All investment decisions made on behalf of AEW UK require AEW UK’s Investment Management Committee approval, which comprises four experienced property professionals and has remained unchanged for the past 11 years. The REIT Portfolio Management team is supported by the wider AEW UK business, which is part of AEW Group and comprises 28 individuals across asset management, fund operations and strategy.

Mark Burton, Chairman AEW UK REIT commented: “Laura has played a key role in managing the AEW UK REIT portfolio, generating strong returns for shareholders over the past seven years. With many active asset management initiatives currently being undertaken by the team at AEW, we remain confident of continued success for the Company. The Board would particularly like to thank Alex for the role she has played since the IPO of the Company and wish her the best for the future.”

ENDS

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which forms part of domestic law in the United Kingdom pursuant to The European Union Withdrawal Act 2018, as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019.

Notes to Editors

About AEW UK REIT

AEW UK REIT plc (LSE: AEWU) aims to deliver an attractive total return to shareholders by investing predominantly in smaller commercial properties (typically less than £15 million), on shorter occupational leases in strong commercial locations across the United Kingdom. The Company is currently invested in office, retail, industrial and leisure assets, with a focus on active asset management, repositioning the properties and improving the quality of income streams.  AEWU is currently paying an annualised dividend of 8p per share. 

The Company was listed on the Official List of the Financial Conduct Authority and admitted to trading on the Main Market of the London Stock Exchange on 12 May 2015.

LEI: 21380073LDXHV2LP5K50

About AEW UK Investment Management LLP

AEW UK Investment Management LLP employs a well-resourced team comprising 28 individuals covering investment, asset management, operations and strategy. It is part of AEW Group, one of the world's largest real estate managers, with €88.2bn of assets under management as at 31 December 2021. AEW Group comprises AEW SA and AEW Capital Management L.P., a U.S. registered investment manager and their respective subsidiaries. In Europe, as at 31 December 2021, AEW Group managed €38.5bn of real estate assets on behalf of a number of funds and separate accounts with over 450 staff located in 12 locations. In May 2019, AEW UK Investment Management LLP was awarded Property Manager of the Year at the Pensions and Investment Provider Awards.