Fixed Rate Borrowings and Property Purchase

Summary by AI ^BETAClose X

Value and Indexed Property Income Trust PLC has converted its £15 million revolving credit facility into a fixed-rate loan at 5.9% maturing in March 2033, bringing its average borrowing rate to 4.9% with 96% fixed until 2033 and a loan-to-value ratio of 36%. The company also purchased a freehold cinema in Esher for £4.6 million, funded by a recent share sale, which will yield an initial 9.0% rising to 9.3% and has a long lease term with RPI-linked rent reviews. Following this acquisition, the portfolio's net initial yield remains at 6.8% and the weighted average unexpired lease term increases to 13.9 years to break and 16.0 years to expiry.

Disclaimer*

Value and Indexed Prop Inc Tst PLC

15 May 2026

VALUE AND INDEXED PROPERTY INCOME TRUST PLC

FIXED RATE BORROWINGS AND PROPERTY PURCHASE

BORROWINGS

Value and Indexed Property Income Trust PLC (VIP) is pleased to announce the conversion of its undrawn £15 million Revolving Credit Facility, arranged in August 2025, to a Fixed Term Loan maturing on 31 March 2033. The loan was drawn down in full on 7 May 2026 at a fixed interest rate of 5.9% (1.3% above 7-year gilts) and will be used to fund new acquisitions. This brings VIP's average interest rate on all borrowings to 4.9% (of which 96% is at a fixed rate expiring in 2033). The loan to value ratio is 36%.

NEW PURCHASE

Following the receipt of £5.44 million from the sale of 2,554,000 shares from Treasury in April 2026 at 213p, at a premium to the Company's latest published Net Asset Value per Share, VIP has bought a freehold cinema in the affluent commuter town of Esher in Surrey for £4.6 million, at a net initial yield of 9.0%, rising to an estimated 9.3% in July this year. This four screen cinema is let to Everyman Media Group Plc for a further 19.2 years, with annual RPI-linked rent reviews, subject to a collar and cap of 1% and 5%.

Following completion of the purchase on 2 June, the portfolio's net initial yield will remain at 6.8% and the portfolio's WAULT (Weighted Average Unexpired Lease Term) will increase to 13.9 years to break from 13.6 years and 16.0 years to expiry from 15.8 years.

Further information can be found here:

https://www.olimproperty.co.uk/value-and-indexed-property-income-trust.html

Enquiries:

OLIM Property Limited, Investment Manager

Tel: 020 7846 3252

Sarah.martin@olimproperty.co.uk

Matthew.oakeshott@olimproperty.co.uk

Louise.cleary@olimproperty.co.uk

Maven Capital Partners UK LLP

Company Secretary

Tel: 0141 306 7400

15 May 2026

Important information

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the Market Abuse Regulations (EU) No. 596/2014, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

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