Leeds-based investor Town Centre Securities says it has ended its financial year with 99% occupancy and an increase in like-for-like passing rent of 2.3%.
In the year to the end of June, it said it completed three key transactions, while its Ibis Styles hotel and Merrion House developments were on schedule and contributing to trading profits.
Deals include the sale of Empire House on Sauchiehall Street, Glasgow, in June for £17.5m, and a swap deal with Evans of Leeds in June around its Manchester Piccadilly Basin and Leeds Buckley House holdings, which allowed it to take 100% ownership of the Leeds site.
It has also continued to grow its car parks business, acquiring its 16th facility.
Edward Ziff, chairman and chief executive, said: “We have made strong progress with our development programme, alongside continued capital recycling and asset management.
“In the new financial year we anticipate further acquisition and investment opportunities to grow TCS. We look forward to the future with confidence.”
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