UK commercial property exchange eyes first five listings this year

Sat, Sep 05, 2020 - 5:50 AM

IPSX, which received regulatory approval last year, is also aiming this year to list office buildings in Leeds and Manchester, in Northern England, and portfolios of social housing and serviced offices in Britain.BRITISH commercial property exchange IPSX is hoping to list its first five initial public offerings this year, its managing director Roger Clarke said, giving real estate investors an alternative way to buy into the sector.

The exchange, which describes itself as the world's first regulated exchange for commercial property stocks, will list the Mailbox office and retail complex in Birmingham, central England, in its debut initial public offering . The building will be listed as a real estate investment trust with a market capitalisation of £115 million . The current owner of the property, M7 Real Estate, will retain a 45 per cent stake. Mr Clarke did not give an exact timetable.

Several Reits are already trading on the London Stock Exchange, as well as in other countries such as the United States, but these companies - which enjoy certain tax advantages - typically hold a broad portfolio of brick-and-mortar assets.

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