Asset Management Team

The team at London & Scottish Property Investment Management Limited, the external Asset Manager, will be responsible for the day-to-day management of the properties. The Asset Manager looks after the property asset portfolio, including identifying and evaluating property investment opportunities – acquisitions and disposals. In addition the Asset 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 Asset Manager is also responsible for debt management.

Stephen Inglis, Chief Executive Officer

Stephen Inglis is the chief executive officer of the Asset Manager. 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.

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 London & Scottish Property Investment Management

The Asset Management Agreement was assigned to the Asset Manager on 3 May 2019. The Asset Manager is a privately-owned property investment management company. It was incorporated on 20 September 2018 and currently employs in excess of 60 people. It is managed by a multidisciplinary team of executive directors, with the management team detailed below 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 of the Asset Manager and have a proven track record of adding value to property portfolios through intensive property management, focusing on income generation. In its capacity as asset manager, the Asset Manager 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.

https://www.lspim.co.uk/

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.