14th Jul 2020 18:58
Raven Property Group Ltd - property investment firm specialising in commercial property in Russia - Warehouse properties continued to operate throughout pandemic. Portfolio not hurt by Russian government introducing compulsory rental deferral schemes. Principal markets of Moscow and Saint Petersburg have now eased lockdown restrictions. Warehouse portfolio is 93% let today and rent collections have averaged over 96% each month since March. 3% of rentals due have been deferred for tenants who have been hardest hit by the crisis and 1% is overdue. Occupancy across the Moscow market, the most important for the Company, has remained high and agents are not forecasting any significant change in the vacancy rate at the year end, which is predicted to be less than 5%. May 31 property portfolio value not materially changed from December 31.
Current stock price: 32.50 pence
Year-to-date change: down 33%
By Paul McGowan; [email protected]
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