24th Feb 2015 09:25
LONDON (Alliance News) - McKay Securities PLC on Tuesday said it has seen an encouraging performance across its portfolio in its financial second half to date.
The south east and London-focused office and industrial real estate investor said its occupancy rate rose to 85.8% at February 24 from 85.2% at the end of the first half of its financial year on September 30.
Lease renewals and lettings were 8.5% and 12.7%, respectively, ahead of rental value assumptions made at the end of September, McKay said.
McKay added that its recently-completed portfolio refurbishment have attracted strong interest.
"Encouraging momentum has been maintained over the period in our portfolio and markets. Our portfolio management initiatives have retained high occupancy levels, despite planned vacancies that will facilitate our development proposals," said Simon Perkins, managing director of McKay.
Shares in McKay were down 0.1% to 247.75 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
MCKS.L