Capital & Regional enjoys strong occupancy
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