At First Property we believe in investing in high yielding commercial investment property. When property values fall, yields increase and we consider buying. When property values rise, yields reduce and we consider selling.

  • Implied IRR’s: assumed sale price = NAVs as at 31 March 2021;
  • Average ROE’s since inception: calculated using average pre-tax income per FY / original equity employed;
  • ROE’s for 2020/21: calculated using annualised pre-tax income for FY period / by original equity employed.

We credit our recognition of the importance of high sustainable income returns as the key reason for our market leading track record. We also recognise the need to continually monitor macro and micro changes in our markets and to adapt our asset management approach accordingly. These points are exemplified by: