REITs: The UK's Top 10

The UK’s top Real Estate Investment Trusts (REITs) represent a sample of the nation’s property landscape. Their portfolios range from logistics and industrial warehousing to modern urban living, vibrant commercial centres, specialist healthcare, and emerging residential models. By examining these ten market leaders, investors can gain insight into how each REIT has responded to shifting demands and tackled economic cycles. In exploring what these REITs own today and how their priorities have evolved, this ranking provides a clear view into the trends shaping the UK real estate market now and into the future.

1. British Land (Public)

As one of the UK’s most established REITs, British Land owns and manages a portfolio exceeding £11 billion. The trust is primarily rooted in large-scale prime London developments and high-value retail assets. Its landmark holdings include the Broadgate and Regent’s Place urban office campuses alongside prominent shopping centres and retail parks.

British Land’s investment focus is widely diversified across modern office complexes, flexible workspace operations under its Storey brand, and growing mixed-use urban neighbourhoods. The company’s flexible workspace initiative, Storey, has expanded to offer offices and amenity-rich environments in financial and tech hubs.

Over the past year, British Land has reaffirmed its commitment to flexible workspace and urban regeneration, accelerating the roll-out of Storey projects and repositioning legacy retail holdings. There is a clear push for mixed-use placemaking and rebalancing legacy retail away from traditional models towards experiential and lifestyle-focused assets. They aim to keep pace with shifting occupier requirements and a dynamic London real estate market.​

Top Holdings:

• Broadgate, London (office campus)
• Regent’s Place, London (office campus)
• Meadowhall, Sheffield (major retail)
• Ealing Broadway Shopping Centre
• Storey flexible workspace portfolio

2. LondonMetric Property (Public)

LondonMetric Property has established itself as a prominent REIT with roots in the UK industrial and logistics sector. The company initially gained recognition through the ownership and management of large-scale modern warehouses, critically supporting the supply chains of major e-commerce players and national retailers.

Today, following the high-profile acquisition of LXi, LondonMetric manages a diversified portfolio spanning 582 properties valued at £7.4 billion. The REIT invests across logistics, warehousing, leisure assets such as theme parks, and a growing presence in healthcare, education, and urban convenience retail. Notable tenants in its portfolio include operators like Amazon, NHS service providers, and M&S food stores.​

Over the last year, LondonMetric’s strategy has shifted. The landmark merger with LXi has not only expanded the group’s portfolio volumes but also marked a decisive move toward portfolio diversification. As opposed to focusing exclusively on logistics, the trust has become a platform that spans multiple sectors with long, inflation-linked leases. This strengthens its income resilience and broadening its exposure to structural growth trends outside logistics.​

Top Holdings:

• Amazon Fulfilment Centres
• M&S Food Stores
• NHS-integrated Health Centres
• Thorpe Park & other leisure assets (via LXi merger)
• Urban logistics clusters across the Midlands, North, and South East

3. Assura (Public)

Assura has become the UK’s market-leading healthcare REIT by specialising in NHS primary care properties and community medical centres. Their portfolio has grown across all regions of the UK, providing essential healthcare infrastructure and supporting millions of patient visits every year.

The REIT invests almost exclusively in GP surgeries, health centres, and specialist medical facilities. Their income is derived largely from long-term leases backed by the NHS and government agencies. As of 2025, Assura’s portfolio holds over £3.1 billion in value, encompassing properties that directly address healthcare service delivery, particularly in underserved and growing communities.​

This year marked a major shift, with Assura agreeing to be taken private in a £1.6 billion deal by a consortium led by private equity firm KKR and infrastructure investor Stonepeak. The move is expected to inject new capital and accelerate investment-led growth, supporting modernisation efforts amidst rising demand for sustainable healthcare infrastructure throughout the UK.​

Top Holdings:

• Brinnington Health Centre, Stockport
• Clay Cross Medical Centre, Derbyshire
• Hanley Health and Wellbeing Centre, Stoke-on-Trent
• Longfleet House, Poole
• Red Roofs Surgery, Rugby

4. Secure Income REIT (Public)

Secure Income REIT targets inflation-linked, long-duration cashflows by investing in high-quality, operationally critical properties. Its holdings span leisure destinations, hospitality assets, and a significant number of private hospitals across the UK.

The portfolio comprises over 175 properties, including theme parks, hotels, and 19 private hospitals let on long-term leases to industry leaders such as Ramsay Health Care Limited. Its mix of tenants reflects defensive, reliable income streams insulated from short-term volatility, as well as long-standing partnerships with blue-chip operators.​

Recently, Secure Income REIT has shifted further towards institutional-grade, inflation-linked leases. Leisure and hospitality assets remain dominant, but healthcare now accounts for a growing share of earnings. The company’s strategy is shaped by a market environment in which long-term certainty and inflation protection are prioritised. The trust continues to adjust sector allocations and tenant risk as part of its income reliability approach.​

Top Holdings:

• Alton Towers Theme Park, Staffordshire
• Thorpe Park Resort, Surrey
• Warwick Castle, Warwickshire
• Heide Park (Germany)
• 19 Freehold Hospitals around the UK

5. Schroder REIT (Public)

Schroder REIT offers broad exposure to UK commercial property, investing in a mix of regional offices, industrial warehouses, and retail warehousing. Known for its flexible approach, the trust ensures portfolio allocation reflects prevailing sector dynamics and economic cycles.

Its diversified portfolio includes 51.1 percent industrial, 23.3 percent office, 12.7 percent retail warehouse, with the remainder in retail and other assets such as hotels and leisure schemes. Recent allocations have notably increased exposure to industrial assets and urban logistics, seeking to benefit from structural changes in commerce and supply chain management.​

In the last year, Schroder REIT has taken decisive action to increase its weighting to logistics and industrial properties. This tactical repositioning has allowed the company to capture rental growth and respond to resilient occupier demand. Simultaneously they have made moves to gradually de-risk away from challenged retail segments and focus more on urban hubs and prime regional offices.​

Top Holdings:

• Stacey Bushes Industrial Estate, Milton Keynes
• Millshaw Park Industrial Estate, Leeds
• Store Street, Bloomsbury, London (50% share)
• St. John’s Retail Park, Bedford
• City Tower, Manchester (25% share)

6. PRS REIT (Public)

The PRS REIT is the UK’s largest player focused on the institutional build-to-rent sector, providing high-quality, professionally managed homes for families. Since its launch, the trust has delivered thousands of new-build homes in strategically chosen regions identified as structurally undersupplied.

In 2025, PRS REIT’s portfolio comprises 5,478 completed homes, with an estimated rental value of £73.4 million per year. The trust remains strictly focused on new-build family housing, actively responding to robust rental demand and a chronic shortage in national rental housing supply. Occupancy and rent collection remain exceptionally high, demonstrating the resilience of the institutional rental model.​

Major changes in the last year include the completion of its development phase, hitting its targeted portfolio size, and the continued optimisation of rental performance. The trust has also reported double-digit growth in rental revenue and healthy like-for-like rental uplifts. This sets the stage for a potential strategic review or sale as it cements its position as the UK’s flagship build-to-rent platform.​

Top Holdings:

• Atherton, Manchester – 244 family homes
• Shirebrook, East Midlands – large scheme
• Wigan, Lancashire – 128 new-build houses
• Sheffield, South Yorkshire – multi-phase development for families
• Liverpool – Norris Green & Gillmoss – cluster of BTR rental homes

7. Warehouse REIT (Public)

Warehouse REIT has positioned itself as an urban logistics and industrial landlord. The REIT has grown rapidly, leveraging prominent light industrial and warehouse sites especially near high-density population centres.

Its portfolio is well diversified across urban logistics hubs, light industrial parks, and supporting infrastructure serving modern supply chains. This includes estate clusters crucial for online fulfilment, SME servicing, and parcel delivery operators. Recent investments have focused on expanding in the most supply-constrained, strategically located markets.​

Over the last year, Warehouse REIT agreed to a takeover by Tritax Big Box. This shift marks an industry trend towards portfolio consolidation, with Warehouse REIT’s urban logistics expertise complementing Tritax’s larger-scale distribution assets while unlocking rental growth and cost efficiencies through a larger and more diversified network.​

Top Holdings:

• Barlborough Links Industrial Estate, Chesterfield
• Parkway Industrial Estate, Plymouth
• Celtic Business Park, Newport
• Warrington South Industrial Estate
• Pellon Lane, Halifax

8. Triple Point Social Housing REIT (Public)

Triple Point Social Housing REIT is distinguished by its exclusive focus on supported social housing, targeting properties for vulnerable and high-need groups. The company operates a growing national portfolio and works in partnership with local authorities, housing providers, and specialist service agencies.

Currently, its investments span over 400 supported housing properties. Triple Point’s ongoing pipeline includes forward-funding new schemes, partnership ventures, and retrofitting older properties to the latest green standards. Rent indexation and government funding support its long-term cash flows.​

Over the past year, the REIT’s steady expansion has reflected growing market and societal demand for specialist supported housing. It has doubled down on ESG enhancement, securing new partnerships and pursuing green developments that address the UK’s urgent need for affordable, quality accommodation for vulnerable populations. This direction is set to continue amidst growing social housing demand.

Top Holdings:

• Safe As Houses partnership schemes (specialist supported housing in Leeds, Nottingham, and elsewhere)
• Nottingham, Westmoreland transfer properties (large cluster of adapted homes)
• Birmingham, multi-unit supported housing schemes
• Manchester, community-based supported units
• Sunderland, Hope Bank View – flagship supported housing project

9. Care REIT (Private/Public)

Care REIT, at the centre of public and private capital, focus exclusively on healthcare and elderly care assets. Over the past decade, these investment vehicles have won favour among institutional investors seeking defensive, income-producing property in a demographically-driven sector.

They invest in care homes, specialist rehabilitation centres, and medical facilities, supporting both NHS and private healthcare delivery. Market leaders control hundreds of homes and facilities, with current portfolios targeting energy efficiency, new standards of care, and innovative community-based care solutions. Private and public Care REITs frequently collaborate with operators and local authorities.​

In the last twelve months, sector interest has intensified, as illustrated by significant acquisitions and mergers such as CareTrust’s acquisition of Care REIT plc. Aging population trends, new regulatory requirements, and heightened ESG mandates have prompted REITs to further professionalise asset management, drive refurbishments, and expand investment into high-demand care provision areas.​

Top Holdings:

• Ashlea Care Home, Sunderland
• Rosedene Care, Stoke-on-Trent
• Oakview Lodge, Welwyn Garden City
• Trinity House, Beckenham
• Montrose Hall, Wigan

10. Palace Capital (Public)

Palace Capital specialises in regional commercial property, with a primary focus on value-add office and mixed-use assets outside of London. Historically, Palace built its reputation acquiring under appreciated office assets in growth towns and key regional cities.

The trust’s investments now extend to a balanced mixture of office, industrial, and mixed-use regeneration schemes, especially in secondary UK markets. Strategic emphasis is placed on unlocking value through refurbishment, community regeneration, and adaptive reuse in city centres.

Over the last year, Palace Capital has continued shifting capital from pure office strategies towards broader urban regeneration and mixed-use development. This reflects the changing dynamics of regional economies and a nationwide move to revitalise town centres and high streets. Portfolio recycling and asset repositioning continue to underpin returns as the trust adapts to new occupier trends and urban policy shifts.

Top Holdings:

• Hudson Quarter, York (city centre mixed-use)
• Bank House, Leeds (office/retail)
• Sol Central, Northampton (leisure and mixed-use)
• Copperfields, Dartford (industrial/office units)
• One Derby Square, Liverpool