UK Commercial Property REIT Limited

(an authorised closed-ended investment company incorporated in Guernsey with registration number 45387)


LEI Number: 213800JN4FQ1A9G8EU25

(The "Company")


3 JULY 2023




Further to its announcement on 3 April 2023, the Board of UK Commercial Property REIT Limited ("UKCM" or the "Company") (FTSE 250, LSE: UKCM) today confirms the appointment of Peter Pereira Gray as UKCM's new chair, effective from 31 July 2023, and the retirement of the incumbent, Ken McCullagh, on the same date.


Peter Pereira Gray, Chair Elect of UKCM, comments: "I would first like to thank Ken for his significant contribution and commitment to UKCM over the past ten years, and particularly during his term as chair of the Board. In the decade since Ken was appointed to the Board, the Company has successfully navigated multiple headwinds: Brexit, Covid, the invasion of Ukraine and fundamental changes to the property industry driven by structural shifts in society. To address these challenges, the Board, expertly led by Ken over the last three years, has worked with the investment manager to restructure the Company's asset base and adapt it to the future needs of tenants.

"As one of the UK's largest diversified REITs and with a high quality portfolio, UKCM is a great business with huge potential. I look forward to working with the Board and with abrdn to continue the good work undertaken to date, as we continue towards our goal of delivering returns for shareholders."

Ken McCullagh, outgoing Chair, added: "As I hand over to Peter I am pleased that UKCM is well placed with a high quality, future fit and far more diversified portfolio that can continue to deliver good income returns to shareholders. I would like to take this opportunity to thank my fellow board members, the abdrn team and all our advisors for all their hard work and support during my tenure. Peter is a first class operator and I leave knowing the Company is in good hands."



For further information please contact:

Richard Sunderland / Emily Smart / Andrew Davis, FTI Consulting   

Tel: 020 3727 1000




Notes to Editors - UK Commercial Property REIT


UK Commercial Property REIT is a FTSE 250 Real Estate Investment Trust listed on the London Stock Exchange. It aims to provide shareholders with an attractive level of income together with the potential for capital and income growth from investing in and managing a £1.32 billion (as at 31 March 2023) diversified portfolio. The portfolio has a strong bias towards prime, institutional quality properties and is diversified by location and sector across the UK.


*The Company is managed and advised by abrdn (the Company's appointed AIFM).


Further information on the Company's investment policies, the types of assets in which the Company may invest, the markets in which it invests, borrowing limits as well as details of its management, administration and depositary arrangements can be found in the Company's Annual Report and Investor Disclosure Document. The above documents are available on the Company's website Paper copies of these documents are available on request, free of charge, via the contact details outlined on the website.


Property is a relatively illiquid asset class, the valuation of which is a matter of opinion. There is no recognised market for property and there can be delays in realising the value of property assets. Investors should be aware that past performance is not a guide to future results. The value of investments, and the income from them, can go down as well as up, and an investor may get back less than the amount invested.


For further information on UK Commercial Property REIT, please visit

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