The value of the estate rose 1.5% to £2.4bn in the six months to June on a like-for-like basis, with the estimated rental value increasing 2.85% to £98.8m.
"There has been strong operational progress across the estate with 43 new leasing transactions signed during the period," CE Ian Hawksworth said in a statement.
"Our ERV [estimated rental value] target of £125m by December 2020 remains in place, reflecting the positive growth prospects of the estate."
But the value of Earls Court Properties dropped 2.4% to £1.1bn in the review, partly reflecting amendments to its development programme, the company said.
The JSE-listed group said the Brexit-induced economic and political uncertainty had affected the valuation of residential-led development land, but had limited effect on tenants at its Garden estate.
Overall, group net rental rose to £32.4m, from £28.6m in year earlier period.
The share price was 1% weaker to R51.90 in early trade on the JSE.
Source: BDpro
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
SAMRA 2 days
