Alternative Income REIT plc (LSE:AIRE) has confirmed that it received an indicative, conditional and non-binding approach from its largest shareholder, Glenstone REIT plc, regarding a potential cash offer for the shares it does not already own. However, the company’s independent directors said the proposal does not currently contain a stated offer price or sufficiently detailed terms, preventing a full assessment at this stage. The board also noted that an earlier proposal from Glenstone in November 2025 had been rejected on the basis that it materially undervalued the business.
Board points to refinancing strength and stable income outlook
Directors contrasted Glenstone’s approach with a possible offer from AEW UK REIT, which they said was at a level that could potentially be recommended to shareholders. The company also reaffirmed confidence in its financial position, citing its recently refinanced balance sheet, fully occupied long-lease property portfolio and ongoing dividend prospects. Shareholders have been advised to take no action while Glenstone remains subject to a June 12 deadline under UK takeover regulations to either announce a firm intention to proceed or withdraw its interest.
Alternative Income REIT’s investment case continues to be supported by resilient operating performance, improved cash generation during FY2025 and an attractive valuation profile, including a low price-to-earnings ratio and elevated dividend yield. The company also pointed to supportive technical trading trends, refinancing certainty and portfolio activity expected to enhance shareholder value.
More about Alternative Income REIT Plc
Alternative Income REIT plc is a UK-listed real estate investment trust focused on delivering long-term, inflation-linked income through a diversified portfolio of 19 properties. Its assets are fully let and largely secured on long leases featuring index-linked rent reviews, with the company targeting dependable and sustainable shareholder dividends within the UK REIT sector.
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