Regional REIT Limited Aviva Letting - Significant Headline Rent Increase
November 27 2019 - 2:01AM
RNS Non-Regulatory
TIDMRGL
Regional REIT Limited
27 November 2019
27 November 2019
REGIONAL REIT Limited
("Regional REIT", the "Group" or the "Company")
Aviva Letting - Significant Headline Rent Increase
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, is delighted today to announce that a blue chip
FTSE 100 insurer has agreed to take a new 10 year lease for 42,612.
sq. ft. at Chilworth House, Hampshire Corporate Park, Eastleigh, at
a rent of GBP775,000 per annum which is 15.7% ahead of the previous
passing rent.
Stephen Inglis, CEO of London & Scottish Property Investment
Management, the Asset Manager, commented:
"We are delighted that another long-term FTSE 100 tenant has
renewed their lease with Regional REIT."
"Demand continues to be strong and we are very encouraged by the
rental rates that we are able to achieve. We also have no shortage
of properties to acquire which we can actively manage and improve
and subsequently increase rental income. Our intensive active
management strategy continues to deliver for our shareholders."
ENDS -
Enquiries:
Regional REIT Limited
Press enquiries through Buchanan
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
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 ("LSPIM"), the Asset Manager, and Toscafund Asset
Management LLP ("Toscafund"), 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 149 properties, 1,178 units and 828 tenants as at 30 June
2019, with a valuation of GBP721.7m.
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.
LEI: 549300D8G4NKLRIKBX73
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
NRAFMMZMVVLGLZM
(END) Dow Jones Newswires
November 27, 2019 02:01 ET (07:01 GMT)
Regional Reit (LSE:RGL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Regional Reit (LSE:RGL)
Historical Stock Chart
From Jul 2023 to Jul 2024