UK Commercial Property Trust now an REIT

The company formerly known as UK Commercial Property Trust confirmed on Monday that its REIT conversion was now complete on Monday.

UK Commercial Property REIT said that, following its announcement to proceed with conversion on 3 May and an extraordinary general meeting on 29 May, it entered the UK real estate investment trust regime with effect from 1 July.

It had made the decision to convert following an irrevocable undertaking from its largest shareholder, Phoenix Life, to support such a move, which it announced in its final results at the end of April.

“The company also announces that with effect from 1 July, the company's name has been changed to UK Commercial Property REIT Limited,” its board confirmed on Monday.