BMO Commercial Property Trust enters UK REIT regime

Managers warn of 'muted' performance in short to medium term

The BMO Commercial Property Trust has confirmed it joined the UK REIT regime in June following a shareholder vote, as it warned of continued uncertainty for commercial property markets in the UK in its latest interim results.

Shareholders voted in favour of the REIT proposals at an extraordinary general meeting held on 30 May and the group entered the UK REIT regime on 3 June, chairman of the trust Martin Moore said. "The adoption of REIT status by the group will alter the shareholders' tax positions in respect of the receipt of distributions under the REIT regime, as the majority of the distributions from the company will be property income distributions." BMO completes F&C rebrand with property trusts The trust, which had been called the F&C Commercial Property trust until June, reported a share price...