Regional REIT has seen values and rents fall slightly over the first half of 2021.
The regional office specialist said that the 151-property portfolio was now valued at £729.1m, a small fall from December’s figure of £732.4m. Its rent roll was also down slightly to £61.1m pa.
However, operating profit was up, from £18.1m to £19.9m.
In August, the REIT acquired a regional office portfolio for £236m from Squarestone Growth, comprising 31 multi-let offices, at a net initial yield of 7.8% and a reversionary yield of 11.0%.
Stephen Inglis, CEO of London and Scottish Property Investment Management, the REIT’s asset manager, said: “Regional REIT is now poised to benefit from an anticipated change in sentiment as most employees return to their offices.”
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