McKay Securities’ total occupancy level hit 93.5%, up from 91.8% at the end of last year.
Ahead of its annual general meeting today, the South East and London specialist said that in its markets: “The shortage in supply of good-quality business space… combined with stable levels of occupier demand, continue to generate growth in rental values.”
The company said it had the potential to increase contracted rental income from £20.5m per annum at the year end to around £30m.
Drawn debt increased by £30.5m over the period to £122m predominantly due to acquisitions and development expenditure. Headroom of £53m remains available to total facilities of £175m.
