16th Aug 2021 17:59
Grit Real Estate Income Group Ltd - pan-African property investment and management - For the year ended June 30, collects 93% of value of its contracted rental revenue, while the vacancy rate as at June 30 is 5.3%, down from 8.0% at the end of December 31, due to new leases in Commodity House phase one, AnfaPlace Mall and three retail malls in Zambia.
"As a result of the extended impact of Covid-19, timing of the recovery in property valuations across the portfolio remains uncertain, with further weakness in retail sector valuations expected for the year to 30 June 2021, although this is expected to be tempered by the valuations across our corporate accommodation, industrial and office sector assets, as well as our increasing confidence in the outlook for the remainder of 2021 in our hospital assets," said Chief Executive Officer Bronwyn Knight.
Grit Real Estate will publish its annual results on October 15.
Current stock price: 41.90 pence, down 3.7%
Year-to-date change: down 14%
By Dayo Laniyan; [email protected]
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