6th Dec 2023 11:05
abrdn Property Income Trust Ltd - investor in UK commercial properties in the industrial, office, retail and other sectors - Says portfolio as of September 30 has "very attractive" reversionary potential of approximately GBP7.6 million, reflecting 29% of its portfolio income. This "clear indicator of future performance" will be realised when vacant spaces are let, as well as at lease expiries and rent reviews. Also says "significant increases" to rent at three industrial properties were agreed within the last two months. Largest was 52% to GBP428,000 per year at Elliot Way, Birmingham. Says deals show a strong trajectory of income growth. Finally, company completes a new 15-year lease of a property at Rainhill Road, Washington to an unnamed parcel delivery company. Building's rent of GBP591,500 per year is estimated to be 10% below current market level, "providing the potential for future rental growth". Read More
