Kennedy Wilson Europe Real Estate signed 36 commercial leases, with £3m of incremental annual income in the first quarter of 2017
The company signed 26 leases across 751,300 sq ft in the UK, which included a 21% rent rise to Telegraph Media Group at the 224,100 sq ft Buckingham Palace Road, SW1.
It completed £10.6m of disposals and invested £13.7m in redevelopment and refurbishment programmes, mostly in the UK and Ireland.
Underlying fundamentals in the UK market “remain resilient” since the EU referendum, Kennedy Wilson Europe said, adding that it would continue to invest in office, retail, industrial and PRS in its core geographies.
A quarterly dividend of 12p per share was announced for the period.
Mary Ricks, president and chief executive of Kennedy Wilson Europe, said: “The portfolio has continued to benefit from strong underlying fundamentals, which has translated into another active quarter of commercial lease transactions with big wins at Buckingham Palace Road, Watford and Stillorgan in Dublin.”
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