Hansteen Holdings plc Portfolio update (9166Q)
October 24 2019 - 2:01AM
UK Regulatory
TIDMHSTN
RNS Number : 9166Q
Hansteen Holdings plc
24 October 2019
24 October 2019
HANSTEEN HOLDINGS PLC
("Hansteen" or, the "Company")
Portfolio Update
Hansteen (LSE:HSTN), the urban multi-let industrial property
investor, announces that the portfolio has continued to perform
strongly in the third quarter of 2019 with the completion of 236
new lettings and lease renewals, an average of 79 transactions per
month. This compares to an average of 62 transactions per month in
the first half of the year. These Q3 leases will generate GBP3.3
million of annual contracted rent and were completed at rents that
are on average 16.6% ahead of the previous contracted rent (H1
2019: 10.2%) and 7.8% ahead of the 31 December 2018 ERV (H1 2019:
4.7%).
There have been seven individual profitable sales, largely to
owner occupiers that have completed since 30 June 2019 for GBP1.6
million generating profits of GBP0.25 million over the 31 December
2018 valuation.
Ian Watson and Morgan Jones, Joint Chief Executives of Hansteen,
commented: "We have specialised in urban multi-let industrial
property for 30 years and we haven't seen such an active
occupational market with the pace and depth of rental growth that
we are currently enjoying".
Enquiries:
Hansteen Holdings PLC
Morgan Jones Tel: +44 (0) 20 7408 7000
Ian Watson www.hansteen.co.uk
Tavistock Tel: +44 (0) 20 7920 3150
Jeremy Carey jeremy.carey@tavistock.co.uk
Notes to Editors:
HANSTEEN HOLDINGS PLC
Hansteen Holdings PLC (LSE:HSTN) is an industrial property REIT
that invests in properties, across the UK, with high yields, low
capital costs and opportunity for value improvement.
Founded by Ian Watson and Morgan Jones, the Company listed on
AIM in November 2005 raising GBP125 million. In 2009, it raised a
further GBP200.8 million by way of a Placing and Open Offer and
moved to the Official List, converting to a REIT shortly
thereafter. In April 2011, the Company raised a further GBP150
million by way of a Placing and Open Offer.
In June 2017, the Company sold its German and Dutch portfolios
for EUR1.28 billion and is now predominantly UK based. In November
2017, the Company returned GBP578 million of capital to its
Shareholders and in May 2018, a further GBP145 million was returned
to Shareholders.
At 30 June 2019, Hansteen had a property portfolio of some 254
assets with a value of GBP647 million.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
PFUZXLFLKBFZFBF
(END) Dow Jones Newswires
October 24, 2019 02:01 ET (06:01 GMT)
Hansteen (LSE:HSTN)
Historical Stock Chart
From Apr 2024 to May 2024
Hansteen (LSE:HSTN)
Historical Stock Chart
From May 2023 to May 2024