Cap­i­tal & Re­gional en­joys strong oc­cu­pancy

The Star Early Edition - - NEWS -

UK-BASED real es­tate in­vest­ment trust, Cap­i­tal & Re­gional, said yes­ter­day that its prop­er­ties were val­ued at £794mil­lion (R13­bil­lion) af­ter it en­joyed a strong oc­cu­pancy rate and good mo­men­tum in leas­ing ac­tiv­ity with 34 new let­tings in the sec­ond half of last year.

The firm yes­ter­day re­leased its trad­ing update for the sec­ond half of last year. For the pe­riod un­der re­view, the com­pany had 34 new let­tings and 15 lease re­newals to­talling £2.8m in an­nual rental in­come. Cap­i­tal had £57.5m in con­tracted rent at the end of last month and oc­cu­pancy rate was at 95.4 per­cent. Hugh Scott-Bar­rett, the chief ex­ec­u­tive of Cap­i­tal said positive in light of the Brexit vote. “The op­er­at­ing performance has been very en­cour­ag­ing, re­flect­ing stronger con­sumer in the sec­ond half of the year than an­tic­i­pated fol­low­ing the re­sult of the EU ref­er­en­dum,” Scott-Bar­rett said. – Ka­belo Khu­malo

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