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Urban Logistics' results defy 'shed' bubble fears

Even at this late stage in the market, there is a lot of sense in backing sensible warehouse developers
Urban Logistics' results defy 'shed' bubble fears
  • Pre-tax profits triple
  • Developer trading at a discount to NAV

If and when the warehouse bubble does burst, those who exercised a semblance of caution during the boom times will be rewarded. Urban Logistics (SHED) is well aware of this, which is why property director Christopher Turner stresses, during a call about the warehouse developer’s full-year results, that it does not have any fashion tenants in its portfolio and that Amazon (US:AMZN) makes up just 2.5 per cent of its rent roll.

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