UK Commercial Property REIT Limited - UKCM - is a listed Real Estate Investment Trust (REIT) with a net asset value of £1.3 billion as at 31 December 2021.

During 2021, the company sold £74 million of property, disposing of its final high street retail exposure as well as Kew Retail Park, the latter at a price which it said reflected the residential opportunity presented on this site. UKCM also took the opportunity to sell two offices – Hartshead House, Sheffield and Network House in Hemel Hempstead.

Dunelm opens new superstore in Leeds as it reports on strong sales performance

Leeds is a significant base for the UK's retail sector

At Junction 27 Retail Park, Leeds a new 10-year lease was agreed with existing tenant Currys Group in the final quarter of the year.

The statement said: "Currys is a key anchor tenant at this property, as well as its largest tenant by contracted rent, and its unbroken 10-year lease commitment reflects the retail park’s strength and its importance to this valuable anchor."

The statement added: "As we head into the year with a feeling of cautious optimism, we remain alert to the challenges that remain.

"The spectre of COVID-19 still looms large, despite the continued easing of many restrictions, and the effects of the pandemic – not just economic, but personal, social and political – will be with us for years to come.

"That said, the position in which we find ourselves is significantly improved from that of a year ago, and that gives cause for confidence as we move forward. We are also witnessing the harrowing scenes from the war in the Ukraine. Apart from the human tragedy and upheaval which is unfolding, the effect on energy costs and higher commodity prices will increase inflationary pressure for some time to come."

Leeds retail park is a source of strength for UK Commercial Property REIT Limited