12 December 2024
REGIONAL
REIT Limited
("Regional REIT", the "Group" or the "Company")
Borrowings Further
Reduced
Regional REIT Limited (LSE: RGL),
the regional property specialist, is pleased to announce the
repayment of £33.4m of borrowings, ahead of schedule. The repayment
is £7.1m above the expected £26.3m earmarked from the successful
July 2024 equity capital raise.
The additional repayment has been
sourced from the property disposal programme. The aggregate Company
borrowings have now reduced to £319.9m (as at 11 December
2024).
Stephen Inglis, Head of ESR Europe LSPIM, Asset Manager
commented:
"The Company is pleased to announce
that borrowings have been reduced, ahead of schedule, to £319.9m.
The Company continues to focus upon the asset disposal programme,
leverage reduction and driving shareholder value by undertaking
accretive capital expenditure to provide vibrant spaces for our
current and potential tenants."
Forthcoming Events
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20 February 2025
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Q4 2024 Dividend Declaration and
Portfolio Valuation
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25 March 2025
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Full year 2024 Preliminary Results
Announcement
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15 May 2025
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May 2025 Trading Update and Outlook
Announcement
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Q1 2025 Dividend Declaration
Announcement
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15 May 2025
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Annual General Meeting
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|
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Note: All dates are provisional
and subject to change
- ENDS -
Enquiries:
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Regional REIT Limited
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Press enquiries through Burson
Buchanan
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ESR Europe Private Markets
Limited
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Tel: +44 (0) 203 831 9776
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Investment Adviser to the
Group
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Adam Dickinson, Investor Relations,
Regional REIT Limited
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ESR Europe LSPIM Limited
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Tel: +44 (0) 141 248 4155
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Asset Manager to the
Group
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Stephen Inglis
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Burson Buchanan
Communications
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Tel: +44 (0) 20 7466 5000
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Financial Communications
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Charles Ryland, Henry Wilson, Sam
Adams
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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 ESR
Europe LSPIM Limited, the Asset Manager, and ESR Europe Private
Markets Limited, the Investment Adviser.
Regional REIT's commercial property
portfolio is comprised wholly of income
producing UK assets and comprises, predominantly of
offices located in the regional centres outside of the M25
motorway. The portfolio is geographically diversified, with 131
properties, 1,303 units and 808 tenants as at 30 September 2024,
with a valuation of c.£648.8m.
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.
LEI: 549300D8G4NKLRIKBX73