REIT Week: The Professionals

Research evidence excerpt

REIT Week: The Professionals

UK | REITs EquityJuneResearch6, 2026

REIT Week: The Professionals RATE WATCH*:

Oil edged up with the lack of progress towards an Iran-US agreement, with 5yr SONIA swap 4.24% (+9bps WoW)

REITs -1%. LAND (-2%) sold a refurbished office block in Victoria at an 8% 10yr Gilt Yields 4.94% (+12bps WoW)

NIY. NRR (-3%) saw growth in Essential Everyday Shopping with a CONS-

beating FY26 +3% NAV on a reduced No. of shares. BBOX (-3%) sold £199m COMMODITY WATCH:

of assets at est 5.6% NIY to fund value-add dev. We introduced our β-based

REIT recovery metric to gauge upside potential on the eventual easing of Brent Crude ($/bbl) spot 98 (+4% WoW);

12mth fwd. 80 (unch WoW)Middle East tensions (link).

Nat Gas NBP +1day 120 p/thm (+7%

Succession: BLND (-1%) appointed Jo McNamara, currently Exec VP, Europe at Oxford WoW)

Properties, as its new CEO. McNamara brings >20yrs of industry experience and will be BLND's

Exhibit 1 - Space House, London WC2

first female CEO. She succeeds Simon Carter, who has been a major proponent of large-scale

office development, but is switching career tracks to a private pan-Euro logistics business P3.

McNamara joins in November.

Post-nominals: Do ACA (Associate Chartered Accountant) or RICS (Royal Institution of

Chartered Surveyors) professionals (our title) offer the better REIT CEO skill set? Of the 10

FT350 REITs, four are led by ACAs and McNamara's appointment reduces the ACA cohort to

three, replacing accountant Carter. A decade ago, the FT350 cohort also had three out of 10

ACA-qualified CEOs, which then included shopping centre specialist intu (which failed in 2020),

BYG's highly regarded Jimmy Gibson (retiring in July) & SGRO's David Sleath (CEO from 2011).

BBOX sold six logistics assets to EQT Real Estate for £199m.