In this interview, Stephen Inglis, head of Regional REIT’s asset manager, ESR Europe LSPIM, and the de facto CEO of RGL, discusses in detail the prospects for the regional office market and the company’s strategy for delivering enhanced shareholder returns. The FY24 results published in March were in line with expectations and looking ahead, the outlook for the relative performance of regional offices has begun to look much brighter. Regional office use has returned to normal and there is a growing shortage of good-quality stock with the environmental credentials that occupiers increasingly demand, for which they are willing to accept higher rents, and from which RGL is already benefiting. With borrowing reduced by last year’s equity raise, RGL has flexibility to invest and further enhance its portfolio, most of which will be held for long-term income and capital growth. Around 20% will be sold, either in the near term or over the next three years, with valuations and total returns enhanced by being positioned for change of use.