Glenstone Property Group has been a successful property investment business since 1970, even though the company can trace its roots back more than 110 years.
Glenstone was originally born out of the retail shoe chain Hiltons. The Company retained some of the freehold shops when Hiltons listed on the London Stock Exchange, and over the last four decades has evolved and grown these investments into an attractive high yielding portfolio across the UK.
Glenstone successfully listed on the Channel Island Stock Exchange (CISE) in 2009 and was the first family company to convert into a real estate investment trust (REIT). The Group has maintained a prudent borrowing policy, and consequently has remained a financially strong business, throughout the turbulence of the past few years.
The robust nature of the existing portfolio, combined with further substantial strategic portfolio acquisitions, has given the experienced executive team the ability to maximise capital value and rents. The Group has delivered shareholders an attractive income of circa 6.5% yield over the last decade.
In February 2016 Glenstone completed the important acquisition of the substantial private property company London and Surrey and its subsidiary companies. London and Surrey’s shareholders received Glenstone shares and cash as part of the transaction. Over the last two years Glenstone has doubled the size of gross assets under management, while adding diversity and providing a more balanced portfolio for all shareholders. London and Surrey has the benefit of substantial prime London residential assets, along with leisure, industrial and office assets throughout the South East. There is also a controlling stake in Delrose Developments which specialises in residential and mixed-use development projects in London and the South-East.
Glenstone combines the values and traditions of six generations of shareholders with the majority of shares still owned by members of the original families, but with the modern dynamism and drive needed in the challenging and ever-changing property market of the 21st Century.
The Group is very much a Family / Friendly REIT and continues to look for further private company acquisitions to add value and synergy to the existing portfolio.