Schroder European Real Estate Investment Trust


Launched on 9 December 2015, the Schroder European Real Estate Investment Trust targets growth regions in Continental Europe and aims to provide a regular and attractive level of income together with the potential for long-term income and capital growth.  The Trust is managed by Jeff O'Dwyer, an experienced real estate investment manager, who is supported by nearly 100 real estate professionals located in key hubs across Europe, including London, Paris, Frankfurt and Zurich.  

The Trust targets specific cities across the region with large, liquid real estate markets that offer superior growth potential. It invests in a range of real estate assets including offices and retail and leisure developments.

The Trust is listed on the market of the London Stock Exchange, with a secondary listing in South Africa.

Key reasons to invest:

  • Attractive income distribution with potential for long-term income and capital growth - Focus on investing in high quality, income producing real estate, targeting a dividend yield to investors of 5.5% p.a. and the potential for long term income and capital growth. Please note the dividend yield is a target yield and is not guaranteed.
  • Focus on the growth cities and regions of Continental Europe – Targeting the most liquid markets in continental Europe, such as Paris and Berlin for example, where there is potential for GDP and rental growth above national averages
  • Attractive market outlook - Eurozone economic data is positive, with private business surveys pointing to further growth this year.  Occupier and investment activity in our target winning cities remains strong, which is expected to drive real estate performance
  • Investment sourcing and active asset management – Bottom up approach via local Schroder teams to identify undervalued locations that benefit from supply constraints, infrastructure changes, sustainable rents and competing demands for different uses. Local Schroder teams directly responsible for actively manage all assets to grow rents, extend leases and improve buildings to add value.
  • Investment Expertise – Schroders has been managing real estate for over 40 years and currently has €14.2 billion of real estate assets under management (at 31 March 2017), with over 100 specialist real estate staff including investment, research and financing specialists based on the ground in the key European markets
  • Accretive debt finance and robust balance sheet – Positive yield gap between real estate yields and borrowing rates in Europe means modest borrowing can boost returns from the property portfolio. Gearing does also introduce risk in to the portfolio and gearing is capped at 35% of the gross assets of the company to mitigate this risk
  • Liquid structure to own real estate - Closed ended fund structure with daily liquidity via listing on the main market of the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange

Current Portfolio:

Key Portfolio Facts 


Number of Properties


Property Portfolio Value

€211.7 million

Weighted Average Unexpired Lease Term (to earliest expiry)

6.8 years


25% of gross assets


€178.3 million


Performance (%)

Schroder European Real Estate Investment Trust plcQ4 2016 - Q4 2017Q4 2015 - Q4 2016Q4 2014 - Q4 2015Q4 2013 - Q4 2014Q4 2012 - Q4 2013
Share price total return (GBP)1 4.1


NAV total return (Euro)2 7.3


NAV total return (converted to GBP)3 11.7


Note: Company launched on 9 December 2015, performance data does not exist for five 12 month periods.  
1Source: Schroders, Datastream, bid to bid price with net income reinvested in GBP.
2Source: Schroders, NAV to NAV (per share) plus dividends paid. 
3Source: Schroders, NAV to NAV (per share) plus dividends paid. Converted into GBP. 
All data is as at 29 December 2017.

For more information, please contact:

Chris Gook
Head of Investment Companies Sales
Numis Securities Limited
Phone: +44 (0) 207 260 1378