Leeds-based property investor and car park operator Town Centre Securities has reported a 2.2% like-for-like uplift in passing rent with occupancy levels unchanged at 99%.
The company continues to seek to maximise revenue delivery from its existing estate, “with intensive asset management being a critical part of our on-going strategy”, it said in a half-year trading statement.
The statement, released today, comes ahead of its final results for the six months ended 31 December 2017 on 26 February 2018.
Key projects include Merrion House, a 170,000 sq ft office building let for 25 years to Leeds City Council, which TCS said is due to complete on time and on budget this month, and Burlington House, a 91-home development at Piccadilly Basin in Manchester, due for completion in May 2019. The building is the first in a 1,080-home plan being delivered by a joint venture between TCS and Leeds-based Highgrove Group.
The 34-unit Brownsfield Mill development in Manchester, which is being brought forward in partnership with Urban Splash, is ready to commence, TCS said.
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