Investment Adviser Management Team

The team at ESR Europe LSPIM Ltd., the external manager, is responsible for the day-to-day management of the properties. The manager looks after the property asset portfolio, including identifying and evaluating property investment opportunities – acquisitions and disposals. In addition, the manager engages with tenants and prospective tenants, the collection of rents, the negotiation of longer leases and removal of tenant break options, instructing agents to re-let properties at lease expiry and, where appropriate, managing refurbishments to increase rental income or capital values. The manager is also responsible for debt management.

More about ESR https://www.esr.com/.

Stephen Inglis, Chief Executive Officer

Stephen Inglis is the Chief Executive Officer of the ESER Europe LSPIM Ltd. He has over 30 years’ experience in the commercial property market, the majority of which has been working in the investment and development sector. His career to date has been split between London and Scotland giving him extensive knowledge of the UK property market. He is a chartered surveyor and became a member of RICS in 2001 and is also a member of the Investment Property Forum. He has, since June 2013, acquired or sold approximately 250 assets in deals totalling in excess of approximately £1.2 billion. He is a non-executive director.

Derek McDonald, Chief Operating Officer

Derek McDonald is Chief Operating Officer of the Asset Manager. Derek spent 27 years at Bank of Scotland/Lloyds Banking Group in a variety of senior roles in corporate banking, including time in the bank’s corporate banking business in the US, the UK real estate joint ventures business, the European real estate business, the UK business support unit and the Irish business support unit, which both dealt with high value real estate lending. He has led a significant number of high value transactions at both REVCAP and Lloyds Banking Group and has also had line responsibility for large teams of professionals. He has significant experience in building and leading multi-jurisdictional businesses. Mr McDonald has been a Member of the Chartered Institute of Bankers in Scotland since 1990.

Simon Marriott, Investment Director

Simon Marriott is investment director of the Asset Manager. Simon has over 30 years’ experience in the property industry sourcing, transacting and asset managing, most recently at Cromwell Property Group where he was Head of Investments and UK Real Estate. Prior to Cromwell, Simon held a number of senior roles including Director Real Estate transactions at PwC, Senior Vice President Managing Director Investments at Oxford Properties and Head of Separate Accounts at Invista REIM, managing funds with assets under management of over £2.5 billion. He holds a BSc Estate Management and is a chartered surveyor (elected a member of RICS in 1992) and is also a member of the Investment Property Forum.

More about ESR Europe LSPIM Ltd.

ESR Europe LSPIM Ltd. (LSPIM) is part of ESR Group, Asia-Pacific’s largest real asset manager with some US$150 billion AUM and the largest sponsor and manager of the REITs in the region. LSPIM employs in excess of 70 people and is managed by a multidisciplinary team of executive directors, with the management team having over 100 years’ experience in the real estate sector between them. Its executive directors have day to day involvement in all current and future projects. LSPIM is responsible for the property management of the property portfolio, including identifying and evaluating investment opportunities in property for the group, the collection of rent, negotiating longer leases and the removal of tenant break options, instructing agents to re-let the premises at lease expiry and, where appropriate, managing refurbishments to increase rental income or capital values, in each case, subject to the overall control and supervision of the Directors.

More About the Asset Management Agreement

London & Scottish Property Investment Management Limited has been appointed as the Asset Manager to provide property management services to Regional REIT (and Regional Commercial Midco Limited (“Midco”) and the Jersey limited companies which hold the properties directly) with effect from the Company’s Shares being admitted to trading on the London Stock Exchange.

Under the Asset Management Agreement, the Asset Manager is responsible for the day to day management of the Property Portfolio, subject to the Investment Objective of the Company and its Investment Policy and the overall supervision of the Board. The Asset Manager will also advise the Company on the acquisition, management and disposal of the real estate assets of the Company.

Notice of termination of the Asset Management Agreement may be issued at any time on or before the expiry of an Initial Period (being the period of 5 years from the date of the Admission of the Company’s Shares to trading), in which case the agreement will terminate one year after the expiry of the Initial Period. If a notice to terminate is not given, the agreement shall continue for recurring three year periods (“Subsequent Periods”). Notice to terminate may be given no later than one year prior to the end of a Subsequent Period, in which case the agreement will terminate at the end of the Subsequent Period.

Notwithstanding the initial term, the Asset Management Agreement may also be terminated with immediate effect earlier in certain circumstances.

At any time after the later of (i) the fifth anniversary of the date of the Asset Management Agreement and (ii) the first date on which EPRA NAV exceeds £750,000,000, the Board, the Investment Manager and the Asset Manager may decide, with the approval of an Ordinary Resolution (upon which neither the Asset Manager nor its associates may vote) that individuals providing the services under the Asset Management Agreement are to become an internal resource of the Company in lieu of the appointment of the Asset Manager under the Asset Management Agreement.