Bradford Property Trust, the UK’s largest quoted owner of tenanted residential properties, has posted half year profits up 21% to £14.2m on the back of an improving housing market.
Gross rental income grew by 26% to £15m; property sale revenues increased by 45% to £13.8m; and acquisitions totalled £6.1m.
Since the half year end in October BPT has bought 212 vacant ex-RAF houses at Little Rissington, Gloucestershire, for £6.5m. Chairman Philip Warner said the houses will be refurbished to create a new Cotswold village.
Warner added: “Residential investment values remain firm …and vacant possession values are rising, but some areas show no growth.”
EGi news 21/11/96
