Business
Interim Portfolio Valuation
Interim Portfolio Valuation.
About this update from Regional Reit Ltd.
[{"type":"text","content":"\n \nRNS Number : 6566E Regional REIT Limited 20 July 2016 \n\n20 July 2016\n \nRegional REIT Limited\n \nInterim Portfolio Valuation and Comment on Recent Events\n \nRegional REIT Limited (LSE: RGL) (\"Regional REIT\", \"the Group\" or \"the Company\") today announces that the gross asset valuation of its property portfolio as at 30 June 2016 was £501.3m. This is an increase of 1.8%, on a like-for-like basis, from the 31 December 2015 value of £403.7m, and 7.7% on the 30 June 2015 valuation. During the first half of 2016 the Group completed property acquisitions totalling £131.1m and disposals of £41.2m.\n \nStephen Inglis, Group Property Director and Chief Investment Officer of London & Scottish Investments Limited, the Asset Manager, commented: \"The Group remains confident as to its business outlook for 2016. Our capacity to continue to grow rental income, which supports the dividend to Shareholders, reflects both the experience of the management team and the value that can be achieved by its active and intensive asset management approach and in-house capacity. In addition, the Group's recent refinancing exercises have reduced the cost of funding and extended loan terms.\"\n \n\"Regional REIT has an extensive property portfolio focused on offices and light industrial sites in the UK's regions outside of the M25 motorway, a large tenant base with a diverse business mix and with no exposure to speculative development. At the same time, the supply of new property in the regions remains limited whilst a broad spread of occupier demand continues despite the result of the recent EU referendum.\"\n \n \n- ENDS -\n \n \nCautionary Statement\n \nThis announcement has been prepared solely to provide additional information to Shareholders to assess the Group's performance in relation to its operations and growth potential. The announcement should not be relied upon by any other party or for any other reason. Any forward looking statements made in this announcement are done so by the Directors in good faith based on the information available to them up to the time of their approval of this announcement. However, such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking...