“Is now the right time to buy listed property companies?”
It’s a question the TR Property Investment Trust team is asked constantly — and one that Marcus Phayre-Mudge, fund manager, tackles head-on in the latest episode of the Money Makers Investment Trusts podcast with Jonathan Davis.
Amid market volatility and ongoing rate uncertainty, the real estate sector is showing promising signs of recovery. As Marcus explains, over a decade of underdevelopment since the global financial crisis has created a structural supply shortage, particularly in high-demand urban markets. With limited new construction and resurgent tenant demand, rents are rising sharply, creating attractive conditions for listed property investors.
What’s driving returns, according to Marcus?
- Rising rents: Strong demand for prime logistics, CBD offices and quality retail is pushing rents higher.
- Interest rate tailwinds: Easing rate expectations are reopening debt markets, allowing REITs to secure attractive long-term financing.
- M&A activity: Consolidation – particularly among smaller, externally-managed trusts – is unlocking value across the sector.
- Income with a capital kicker: REITs remain a powerful tool for generating steady income. With yields typically in the 5–7% range, dividends account for around 80% of long-term returns.
Bottom line: The opportunity is real – but selectivity is key. TR Property Investment Trust remains one of the few ways that everyday investors can gain diversified access to high quality listed property companies across the UK and Europe – via a single, liquid vehicle.
Hear Marcus’s full conversation with Jonathan here, or via major podcast platforms:
The value of your investments can go down as well as up and you may get back less than you originally put in. Past performance is not a guide to future returns. There is no guarantee that dividends will continue to increase. Approved by Columbia Threadneedle Management Limited on 03/07/2025
