Update: Regional Reit
Yesterday this property fund, focused, as its name suggests, on real estate outside the capital, said it had arranged several new leases at rents about 20pc above the estimated rental values of the properties concerned, which were predominately home to “government-designated essential service occupiers”.
The rents involved amounted to £531,364 a year, compared with Regional’s annual rental income of £64.3m in the year to December. None the less the increases are welcome and we will hold.
Update: Portfolio performance
As our monthly table shows, performance has continued to be held back by capital losses incurred since the beginning of the Covid epidemic. We are just in the black overall.