16th May 2014 07:41
LONDON (Alliance News) - Property Investment company Hansteen Holdings PLC said Friday it had seen total annual rent roll and total occupancy across its portfolio rise in the year to date.
Like-for-like annual rent roll rose to GBP138.7 million from GBP134.9 million in the previous year. Like-for-like total occupancy rose by 15,100 square metres, Hansteen said.
The company said it had acquired 17 properties into its Hansteen Property Unit Trust II for GBP43.6 million at an average yield of 7.7%. It sold 13 properties for GBP10.5 million, with an average yield of 8.3%.
In the year to date the company saw 548 new lettings and lease renewals on 294,000 square metres, with an yearly rent roll of GBP11.9 million.
During the period the company raised GBP47.1 million in the placing of 44.8 million shares at 105 pence, and refinanced its German debt facilities.
"Increased investor appetite for industrial property is increasing competition for acquisitions. However our regional office network continues to identify interesting opportunities that still offer value," said Joint Chief Executive Ian Watson in a statement.
Shares in Hansteen were trading up 1.0% at 103.82 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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