Warehouse REIT has confirmed a change of auditor with the appointment of BDO to replace incumbent Deloitte LLP
The auditor change follows the completion of a formal and competitive selection process with BDO LLP set to take over as new external auditor for the year ending 31 March 2022.
The company's current auditor, Deloitte LLP, will complete the audit for the current financial year ending 31 March 2021. It has handled the audit since the business was listed in 2017.
An audit fee of £135,000 was paid for the audit for the year ended 31 March 2020. This incorporates a fee of £105,000 for auditing the annual report and consolidated financial statements for the period and £30,000 for auditing the accounts of the company’s subsidiaries for the period.
Lynette Lackey, chair of the company's audit committee, said: ‘The board would like to thank Jim Wright and Deloitte for its work as auditor through the company's period of success and growth since IPO. We look forward to working with BDO in the future.’
Shareholder approval to confirm the appointment of BDO LLP will be sought at the 2021 Annual General Meeting in September.
Warehouse REIT is an AIM listed UK Real Estate Investment Trust that invests in and manages e-commerce urban and 'last-mile' industrial warehouse assets across the UK. In 2020, the company completed the acquisition of 11 assets for a combined price of £80.2m (before costs), at an average net initial yield of 6.3%, taking the portfolio to over seven and a half million square feet.