UK real estate investment trust UK Commercial Property said it posted a net loss of £222.33 million ($274.66 million) in 2022 as the underlying value of its holdings declined.

UKCommercial Property said it posted a net loss of £222.33 million ($274.66 million) in 2022 as the underlying value of its holdings declined. <The loss, which amounts to £0.17 per share, comes after the fund posted a profit of £236.236 million in 2021. However, profits rose by around 19% to £0.32 per share.

Dividends rose by around 19% to £0.32 per share. <“Overall, we expect a recovery in UK real estate performance in 2023,” said company director Ken McCullagh. The pace of repricing of UK real estate in 2022 means that there will be opportunities in 2023, especially as the path of monetary policy becomes more accommodative.“

Director Ken McCullagh said.