Secure Income REIT’s NAV rises

Nick Leslau’s Secure Income REIT has posted a hike in adjusted EPRA NAV per share, boosted by returns from its £347m hospitals disposal. Secure Income’s adjusted EPRA NAV per share stood at 420.5p in the six months to 30 June, up 5% from the period to 31 December. It made profit before tax of £75.4m, up 14.9% on H2 2018. The REIT sold eight of its 19 private hospitals for a gross consideration of £347m, 16% above June book value. Martin Moore, non-executive chairman, said: “With a robust balance sheet and a strongly performing portfolio delivering 5% NAV growth in the first half of the year, we continue to view the future with confidence.” Moore added that the company now has more than £230m of firepower to redeploy. The REIT owns a £2.05bn portfolio, according to the June valuation. To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette