6th Jul 2021 14:10
Real Estate Investors PLC - Midlands focused investment trust - Completes eight asset disposals in first half of 2021, totalling GBP10.7 million, an aggregate uplift of 10% on December 2020 book value. Notes pipeline of disposals worth GBP5.5 million. Plus "strong" rent collection of 97% in the first half. Occupancy rates at 83%, possibly rising to 88% in near-term. Issues interim dividend of 0.75 pence in first quarter of 2021.
"Occupier demand is beginning to strengthen across the market place, with decision makers less cautious and naturally eager to move forward after a uniquely challenging 18 months. We have a healthy pipeline of new lettings on our void space, which is expected to improve our occupancy levels and support our valuation recovery," the company says.
Current stock price: 39.71p, down 3.2% on Tuesday afternoon
Year-to-date change: up 17%
By Scarlett Butler; [email protected]
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