Business
Independent Valuation of Company Property Assets
Independent Valuation of Company Property Assets.
About this update from Sutton Harbour Group Plc
[{"type":"text","content":"\n \nRNS Number : 1447S Sutton Harbour Holdings PLC 07 March 2019 \n\nSutton Harbour Holdings plc\n\n(\"Sutton Harbour\" or the \"Company\")\n \nIndependent Valuation of Company Property Assets\n \nThe Company reports that the independent annual property asset valuation as at 31 January 2019 has now been completed.\nThe valuation records an overall increase, compared to the last valuation of 10 months ago as at 31 March 2018, to £45.700m (2018: £42.655m) representing an increase of 7.14%.\nThe valuation movement comprises an uplift in the valuation of owner occupied operational property assets to £26.275m (2018: £23.600m), an increase of 11.33%. This follows a successful period at the Marinas with new lettings of space within the Sutton Marina estate and improved berthing revenue. The value of King Point Marina reflects the new lease agreement with Princess Yachts and the resultant improving profitability from the asset. The Fisheries and Car Parking asset valuations were on par with the March 2018 position.\nThe investment property portfolio valuation is up to £19.425m (2018: £19.055m), an increase of 1.94%. The main contributor to the valuation increase has been the uplift at North Quay House following a new letting in the year. Generally, the Company has been pleased with increasing activity and a number of other new lettings of vacant space.\nLand assets classified as development inventory are not included in the scope of the above mentioned property valuation report. \nEnquiries\n\n\n\n\nSutton Harbour Holdings plc\n\n\n+44 (0) 1752 204186\n\n\nPhilip Beinhaker, Executive Chairman\nNatasha Gadsdon, Finance Director\n \n\n\n\n\nArden Partners (NOMAD and Broker)\n\n\n+44 (0)20 7614 5917\n\n\nPaul Shackleton, Ben Cryer\n \n\n\n\n\n \nNotes to Editors\nSutton Harbour Holdings plc (SUH) is an AIM listed company specialising in marine operations, waterfront regeneration and destination creation in Plymouth and South West England.\n The Company operates Sutton Harbour Marina, King Point Marina and Plymouth Fisheries. Operational activities include mixed-use lettings, car parking and support services to harbour users, property management and regeneration and asset enhancement.\n Sutton Harbour Holdings plc is committed to being the leading marine and waterfront regeneration specialist in Sou...