Regional REIT Limited Q2 Rent Collection Rises to 91.4% (0823U)
July 27 2020 - 2:00AM
UK Regulatory
TIDMRGL
RNS Number : 0823U
Regional REIT Limited
27 July 2020
27 July 2020
REGIONAL REIT Limited
("Regional REIT", the "Group" or the "Company")
Q2 Rent Collection Rises to 91.4%
Regional REIT (LSE: RGL), the regional real estate investment
specialist focused on building a diverse portfolio of income
producing regional UK core and core plus office and industrial
property assets, today announces a Q2 rent collection update.
Further to the 8 July 2020 announcement, Q2 rent collection has
continued to increase to 91.4% from 78.5%. This comprises 80.5% of
Q2 rent paid, 6.1% who have agreed to pay monthly and collection
plans agreed with occupiers amounting to a further 4.8%. We
anticipate collecting the vast majority of the balance of
outstanding Q2 rent in due course as usual.
Stephen Inglis, Chief Executive Officer of London & Scottish
Property Investment Management Limited, the Asset Manager
commented:
" I am delighted by the continued progress with Q2 rent
collection . We have undertaken significant steps to ensure a safe
return to work for our occupiers, whilst continuing to work with
those tenants that have been in active occupation throughout the
lockdown providing essential services, to ensure health and safety
remains at the forefront of everyone's minds.
The strong rental collection to date is a testament to the
collaborative relationship we have with the majority of our tenants
and the quality of our management platform.
The rental collections continue to underpin our confidence in
our robust quarterly dividend payments, and we look forward to
announcing our Q2 dividend on the 26 August 2020."
- ENDS -
Enquiries:
Regional REIT Limited
Toscafund Asset Management Tel: +44 (0) 20 7845
6100
Investment Manager to the Group
Adam Dickinson, Investor Relations, Regional
REIT Limited
London & Scottish Property Investment Management Tel: +44 (0) 141
248 4155
Asset Manager to the Group
Stephen Inglis
Buchanan Communications Tel: +44 (0) 20 7466
5000
Financial PR regional@buchanan.uk.com
Charles Ryland / Victoria Hayns / Henry
Wilson
About Regional REIT
Regional REIT Limited ("Regional REIT" or the "Company") and its
subsidiaries (the "Group") is a United Kingdom ("UK") based real
estate investment trust that launched in November 2015. It is
managed by London & Scottish Property Investment Management
Limited, the Asset Manager, and Toscafund Asset Management LLP, the
Investment Manager.
Regional REIT's commercial property portfolio is comprised
wholly of income producing UK assets and comprises, predominantly,
offices and industrial units located in the regional centres
outside of the M25 motorway. The portfolio is highly diversified,
with 160 properties, 904 tenants as at 31 December 2019, with a
valuation of GBP787.9m.
Regional REIT pursues its investment objective by investing in,
actively managing and disposing of regional core and core plus
property assets. It aims to deliver an attractive total return to
its Shareholders, targeting greater than 10% per annum, with a
strong focus on income supported by additional capital growth
prospects.
The Company's shares were admitted to the Official List of the
UK's Financial Conduct Authority and to trading on the London Stock
Exchange on 6 November 2015. For more information, please visit the
Group's website at www.regionalreit.com .
Cautionary Statement
This document has been prepared solely to provide additional
information to Shareholders to assess the Group's performance in
relation to its operations and growth potential. The document
should not be relied upon by any other party or for any other
reason. Any forward looking statements made in this document are
done so by the Directors in good faith based on the information
available to them up to the time of their approval of this
document. However, such statements should be treated with caution
due to the inherent uncertainties, including both economic and
business risk factors, underlying any such forward-looking
information.
ESMA Legal Entity Identifier ("LEI"): 549300D8G4NKLRIKBX73
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END
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