Regional REIT has reported a 4.3% like-for-like drop in portfolio value to £742m in June, compared with December book values.
The landlord has so far collected 96% of Q1 rent owed, and 93% of rent for the second quarter.
Net loan-to-value ratio was only slightly under the company’s 40% stated target, standing at around 39.7% on 30 June. This has inched up from 38.9% in December.
Stephen Inglis, chief executive of the REIT’s asset manager London & Scottish Property Investment Management, noted that demand remains strong for the landlord’s core office and industrial properties, observing record low levels of regional office and industrial availability.
Inglish said: “This shortage, partly caused by a lack of new product coming to market, coupled with some major organisations considering moving to a hub-and-spoke model, comprising a large city centre presence supported by smaller multiple regional offices, leaves Regional REIT very well positioned for the long term.”
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