23rd Mar 2016 07:43
LONDON (Alliance News) - Property regeneration company St Modwen Properties PLC on Wednesday said it has performed well in the first months of its current financial year and will continue to pursue potential acquisition opportunities.
St Modwen said value has been added to its portfolio in the period since the start of its financial year on December 1 through land renewals, planning gains, and asset management activity.
Since the start of the financial year, the company has completed a series of retail and industrial acquisitions and will continue to pursue further opportunities in 2016, in addition to carrying out disposals where it can no longer add value.
St Modwen said it has identified new development opportunities on its private rented sector assets and said development work on its commercial portfolio is strong.
"We have experienced a good start to the year as our extensive regional portfolio and development activities continue to produce real opportunities for growth. We expect this to lead to continued value creation for our shareholders," said Chief Executive Bill Oliver.
By Sam Unsted; [email protected]; @SamUAtAlliance
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