6th May 2016 06:43
LONDON (Alliance News) - Capital & Counties Properties PLC on Friday said it has continued with its strategy to drive rental growth in its portfolio in the first months of 2016, with a particularly strong performance at its Covent Garden estate.
The FTSE 250-listed property company said it has seen positive momentum at its Covent Garden estate in central London and has introduced premium retail brands to the site, noting that the estate remains on track to achieve estimated rental value of GBP100.0 million by December 2017.
Capital & Counties said the development of its Kings Court in the Covent Garden estate is on track for completion in 2017 and it has seen "positive interest from brands for the development".
Demolition to the ground level at Earls Court continues on plan, with completion expected at the end of 2016, the company said, whilst construction of Lillie Square in the south west London is on plan, with the first completions expected in the second half of 2016.
Capital & Counties said its Olympia London venue in West Kensington, London has had an "excellent start to 2016", with over 40 events held at the site for the period between the start of 2016 and May 6.
The property company added that its balance sheet was "robust" with a "conservative loan to value ratio of 18%".
By Hannah Boland; [email protected]; @Hannaheboland
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