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Commercial Property News
Wichford make a promising start to new year after rights cash brings stability
Wichford Plc in a trading update today ahead of it H1 results said that it's portfolio occupancy remained above 99%, which is the main benefit of it investing in buildings occupied by Central and Local Government tenants.
In January the firm added to it's UK portfolio of 78 properties with the Crescent Centre in Bristol acquired from Henderson Global Investors for £14 million ( Net initial yield of 7.89%) and a DSA Driving Centres in Gillingham. The acquisition of a further Driving Centre in Uxbridge will be completed before the end of May.
Philippe de Nicolay, Chairman of Wichford commented:
"Wichford continues to make steady progress with its property portfolio and debt facilities. We are investing the proceeds of the rights issue and property sales into new properties that will assist us with the WAULT and the extension of our major UK debt facilities. There are an increasing number of opportunities in the market and, although competition is increasing, we have already shown this year that we are able to add new income streams to our high-quality portfolio."
In January the firm added to it's UK portfolio of 78 properties with the Crescent Centre in Bristol acquired from Henderson Global Investors for £14 million ( Net initial yield of 7.89%) and a DSA Driving Centres in Gillingham. The acquisition of a further Driving Centre in Uxbridge will be completed before the end of May.
Philippe de Nicolay, Chairman of Wichford commented:
"Wichford continues to make steady progress with its property portfolio and debt facilities. We are investing the proceeds of the rights issue and property sales into new properties that will assist us with the WAULT and the extension of our major UK debt facilities. There are an increasing number of opportunities in the market and, although competition is increasing, we have already shown this year that we are able to add new income streams to our high-quality portfolio."
Tue, 16th Feb 2010