Business
Q3 17 Trading Update/Outlook/Dividend Declaration
Q3 17 Trading Update/Outlook/Dividend Declaration.
About this update from Regional Reit Ltd.
[{"type":"text","content":"\n \nRNS Number : 3780W Regional REIT Limited 14 November 2017 \n\n14 November 2017\nRegional REIT Limited\n \nQ3 2017 Trading Update, Outlook Statement and Q3 2017 Dividend Declaration\n \nBusiness continues to make good progress; in-line with management's expectations\n \nQ3 2017 dividend 1.80pps\n \nRegional REIT Limited (LSE: RGL) (\"Regional REIT\", \"the Group\" or \"the Company\"), the UK regional office and industrial property focused REIT, today announces its trading update for the period from 1 July 2017 to 13 November 2017 and its dividend declaration for the third quarter of 2017. \n \nStephen Inglis, Chief Executive Officer of London & Scottish Investments Limited, commented:\n\"After only two years into life as a listed entity, we are very encouraged with progress. This was another healthy quarter for Regional REIT. The Group maintained a strong pace of lettings in the third quarter of 2017. We continue to see a good level of interest in both our office and industrial properties, and expect this to improve occupancy rates across the portfolio in the near term. \n \n\"The key focus for our business remains income - and the ability to pay and improve dividends - underpinned by occupancy and rental growth.\n \n\"Investor appetite remains strong for stabilised income assets and we are taking advantage of this by some selective selling of assets where asset management initiatives have been completed but have not been recognised in valuation improvements. Valuation levels remain below values being achieved on sales in the marketplace.\n \n\"Whilst well positioned for organic growth the Company remains opportunistic and is continuing to explore specific opportunities, using its strong reputation and presence it has in the regions to further grow the business and enhance income and earnings.\"\n \nQ3 2017 Trading Update\n \nThe Group has continued to pursue its strategy of providing investors with an attractive return on a sustained and consistent basis from investing and asset managing, predominantly, offices and light industrial property in the main regional centres of the UK outside of the M25 motorway. \n \nSince 1 January 2017 to date, the Group has exchanged on 66 leases to new tenants, including 22 since 30 June 2017, totalling 391,459 sq. ft.; wh...