Business
Half Yearly Report
Half Yearly Report.
About this update from Aew Uk Reit Plc
RNS Number : 3536R AEW UK REIT PLC 09 December 2016 AEW UK REIT PLC Unaudited Interim Report and Financial Statements for the period 1 May 2016 to 31 October 2016 Financial Highlights ● Unaudited Net Asset Value ('NAV') of £118.05 million and of 95.47 pence per share as at 31 October 2016. ● Operating profit before investment property and investment revaluations is £4.99 million for the period from 1 May 2016 to 31 October 2016. ● Unadjusted profit before tax ('PBT') of £0.49 million (0.42 pence per share) for the period from 1 May 2016 to 31 October 2016. ● Total dividends of 4.00 pence per share have been declared for the period from 1 May 2016 to 31 October 2016. ● AEW UK REIT plc (the 'Company') has raised total gross proceeds of £6.00 million for the period from 1 May 2016 to 31 October 2016. ● The Company has a 5 year £40 million term credit facility (the 'Facility') with The Royal Bank of Scotland International Limited ('RBSI'). The Company has utilised this facility to invest in properties, and is currently geared to 19.6% of the Gross Asset Value ('GAV') of the Company as at 31 October 2016. ● The price of the Company's Ordinary Shares on the Main Market of the London Stock Exchange was 98.62 pence per share as at 31 October 2016. ● The Company held cash balances totalling £10.16 million as at 31 October 2016, of which £7.33 million was held for the purpose of capital acquisitions. ● The Company's NAV Total Return for the period from 1 May 2016 to 31 October 2016 is 3.13%. Property Highlights ● The Company acquired two properties in the period from 1 May 2016 to 31 October 2016 for a total of £13.20 million (excluding acquisition costs). ● As at 31 October 2016, the Company's property portfolio had a fair value of £125.89 million as compared to the combined purchase price of the portfolio of £123.58 million (excluding purchase costs), representing an increase of £2.31 million, or 1.87%. ● The majority of assets that have been acquired are fully let and the portfolio has a vacancy rate of 8.70%. ● Rental income generated in the period under review is £5.85 million. The number of tenants as at 31 October 2016 stands at 82. ● Average portfolio net initial yield of 7.38%. ● Weighted average unexpired lease term of 5.3 years to break and 6.5 years to expiry. Chairman's Statement &nb...