Schroder Real Estate Investment Trust - SREI

Seeking attractive income with capital growth potential from a portfolio of UK commercial real estate

Why invest in SREI


Dynamic portfolio allocation and active asset management

Providing the means to generate a sustainable rising income, as well as capital growth across market cycles.



A diverse and highly experienced team of investment specialists that facilitate a deep understanding and coverage of all commercial real estate sectors across the UK.


Sustainability focus

Market Leading data-led ESG framework, with a focus on driving demonstrable improvements to the sustainability profile of portfolio assets.

Key facts

As at 30 September 2023


Portfolio value


Number of properties

6.1% pa

NAV total return (annualised) for the 3 years to 30 September 2023

4.5% pa

SREI delivered outperformance of the IPD MSCI Benchmark over the 3 years to 30 September 2023

The MSCI UK Balanced Portfolios Quarterly Property Index as at September 2023

Key information

Slide 1 of 7
NEW: Interim Report & Accounts 2023
Interim Results 2023: Investor Presentation
Circular and Notice of EGM
Latest factsheet
Kepler Research Note
Key Information Document
Morningstar Report

Interim Results 2023

On 21 November 2023, Managers Nick Montgomery and Bradley Biggins presented the Trust's interim result for the six months ended 30 September 2023. The presentation can be downloaded above.

Our strategy, evolved

What is happening?

The Board of Schroder Real Estate Investment Trust Limited and Schroders Capital Real Estate (‘Schroders’) as Manager are recommending some amendments to the Company’s Investment Objective and Policy. The purpose of these changes is to formally place sustainability considerations at the heart of the Company’s investment strategy.

Why are we making these changes?

With the real estate industry accounting for around 40% of all global greenhouse gas emissions (World Economic Forum, 2022), it is clear that real estate asset owners have a vital role to play in tackling the causes of climate change. Schroders has both the asset management capabilities and sustainability expertise to take a sector leading position in the journey towards Net Zero Carbon.

Meanwhile, investing in existing buildings to improve their environmental performance not only helps to tackle climate change, but also allows the portfolio to potentially benefit from the “green premium”, where properties with genuine green credentials can command higher prices and rents. In turn, this should mean a higher – and more sustainable – income for shareholders, as well the potential for enhanced total returns.

What happens next?

An Extraordinary General Meeting of the Company will be held at 10:00 am on 15/12/2023.

This meeting will provide further context regarding the change and will provide shareholders with the opportunity to vote on the proposal to amend the Investment Objective and Policy of the Company.

The Board unanimously recommends shareholders vote in favour of the proposal, in the belief that it is in the best interests of shareholders.

Stanley Green Trading Estate

Our 'brown-to-green' strategy in action

Cheadle | Manchester

Harnessing our active management capabilities and sustainability expertise to create an operationally net zero carbon warehouse scheme. The first of its kind in the North West of England.

  • Acquisition date

    December 2020

  • EPC rating


  • BREEAM rating


  • Increase in valuation (at 30 September 2023)


Performance and charges

For further performance data please visit download the latest factsheet or visit the London Stock Exchange website

Ongoing charge: 2.28% (as at 31 March 2023)

Ongoing charges are total expenses (fund expenses and direct property expenses) as a percentage of average net assets.

Discrete yearly performance (%)

As at 30 September 2023

Discrete yearly performance (%)

12 months to


12 months to


12 months to


12 months to


12 months to


Share Price1






SREIT NAV Total Returns2






SREIT Real Estate Total Returns3






MSCI Balanced Monthly and Quarterly Index funds3






Issued in November 2023

Past performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.

Source: 1Schroders, Datastream, bid to bid price with net income reinvested in GBP.

2The Company completed the refinancing of its £129.6 million loan with Canada Life in October 2019. This extended the average maturity from 8.5 to 16.5 years and reduced the interest rate from 4.4% to 2.5% per annum. The refinancing generated an immediate interest saving of £2.5 million per annum. The refinancing incurred a one-off cost of £27.4 million.

3MSCI Balanced Monthly and Quarterly Index funds (including indirect investments on a like-for-like basis).

epra sbpr

The EPRA Sustainability Best Practices Recommendations (sBPR) Guidelines provide a consistent way of measuring sustainability performance in the same way that BPR for financial reporting have made the financial statements of listed real estate companies in Europe clearer and more comparable. sBPR are intended to raise the standards and consistency of sustainability reporting for listed real estate companies across Europe.

GRESB 3 Three star rating SREI

The Global Real Estate Sustainability Benchmark (GRESB) is a mission driven and industry-led organisation that provides actionable and transparent environmental, social and governance (ESG) data to financial markets. GRESB provides a consistent framework to measure the ESG performance of individual assets and portfolios based on self-reported data.

INtegrated sreit v2

The Portfolio Managers

Slide 1 of 2

Nick Montgomery

Head of UK Real Estate Investment

Bradley Biggins

Portfolio Manager

Independent Board of Directors

Slide 1 of 8
Annual Report and Accounts 2023
Interim Report 2023
Terms of Reference: Management Engagement Committee
Terms of Reference: Audit & Risk Committee
Terms of Reference : Nomination Committee
Alternative Investment Fund Managers Directive (AIFM) Disclosures
Full Prospectus
Supplementary Prospectus


Annual Reports and Accounts

2022 / 2021  / 2020  / 2019  / 2018  / 2017  / 2016  / 2015  / 2014  / 2013  / 2012  / 2011  / 2010  / 2009 

Half Year Report and Accounts

2022 / 2021 / 2020 / 2019 / 2018 / 2017 / 2016 / 2015 / 2014 / 2013 / 2012 / 2011 / 2010 / 2009

Sign up for RNS updates

Investing in Schroder Real Estate Investment Trust

What are the risks?

Investments in real estate are relatively illiquid and more difficult to realise than equities or bonds.

Yields may vary and are not guaranteed.

The use of gearing is likely to lead to volatility in the Net Asset Value ("NAV") meaning that a relatively small movement either down or up in the value of the Company's total assets will result in a magnified movement in the same direction of that NAV.

There is no guarantee that the market price of shares in a UK Real Estate Investment Trust such as SREIT will fully reflect their underlying NAV.

The value of real estate is a matter of a valuer's opinion rather than fact.

This UK Real Estate Investment Trust should be considered only as part of a balanced portfolio, of which it should not form a disproportionate part.

Non-Mainstream Pooled Investments (NMPI) Status

The Company currently conducts its affairs so that its shares can be recommended by IFAs to ordinary retail investors in accordance with the FCA's rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future. The Company's shares are excluded from the FCA's restrictions which apply to non-mainstream investment products because they are shares in an investment trust.

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Please remember that the value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.

Marketing material

Issued by Schroder Unit Trusts Limited, 1 London Wall Place, London EC2Y 5AU. Registered Number 4191730 England.

For illustrative purposes only and does not constitute a recommendation to invest in the above-mentioned security / sector / country.

Schroder Unit Trusts Limited is an authorised corporate director, authorised unit trust manager and an ISA plan manager, and is authorised and regulated by the Financial Conduct Authority.

On 17 September 2018 our remaining dual priced funds converted to single pricing and a list of the funds affected can be found in our Changes to Funds. To view historic dual prices from the launch date to 14 September 2018 click on Historic prices.