Schroder REIT sees 1.1% NAV uplift
Schroder Real Estate Investment Trust has announced a 1.1% uplift in net asset value for the three months to 31 December.
The unaudited NAV at the end of 2016 was £320.3m, or 61.8p per share, which reflects a 1.1% increase per share compared with the NAV as at 30 September.
At 31 December the portfolio comprised 47 properties valued at £453.6m and produced a rent of £26.9m per annum, reflecting a net initial yield of 5.6%. The portfolio rental value was £34m per annum, resulting in a reversionary yield of 7.5%.
Schroder Real Estate Investment Trust has announced a 1.1% uplift in net asset value for the three months to 31 December.
The unaudited NAV at the end of 2016 was £320.3m, or 61.8p per share, which reflects a 1.1% increase per share compared with the NAV as at 30 September.
At 31 December the portfolio comprised 47 properties valued at £453.6m and produced a rent of £26.9m per annum, reflecting a net initial yield of 5.6%. The portfolio rental value was £34m per annum, resulting in a reversionary yield of 7.5%.
Over the quarter, the void rate as a percentage of rental value reduced to 7.7%, compared with 9% as at 30 September on a like-for-like basis. The average unexpired lease term, assuming all tenants vacate at the earliest opportunity, was seven years.
The majority of the portfolio (40.3%) was offices, with 31.1% retail and 23.2% industrial.
It was spread around the country, with 28.5% in the North and Scotland, 28.1% in the South East excluding central London, 27.2% in the Midlands and Wales, and 7.8% in London.
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