Custodian’s REIT’s valuation has remained stable, suffering only a 0.6% decline over its first half.
The REIT bucked the industry trend, with its portfolio dipping by just £15.6m to £609.8m over the six months to the end of September. The fall was led by a £8.6m drop for its offices portfolio and a £5.2m fall for retail warehouses.
EPRA return per share was up on the previous H1, to 2.9p from 2.8p, while losses before tax fell to £2.7m from £14.1m for the previous half.
Chair David MacLellan said: “Negative sentiment towards real estate investment is currently weighing against capital performance.
“However, there is depth in occupational demand and latent rental growth in the portfolio which offers the prospect of growth for existing shareholders, as sentiment improves towards the sector and gives us confidence that the company will continue to perform well.”
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