LONDON (Alliance News) - LONDON (Alliance News) - Ediston Property Investment Co PLC Friday said it expects to make a number of new investments on completion of a debt facility that it is anticipated will be put in place close to the end of the first quarter of 2015, and its strategy is to maintain its dividend at the same time as snapping up assets that can benefit from the expected improvement in leasing markets.
The real estate investment trust said its existing properties were valued at GBP84.1 million as of end-December by external valuer Knight Frank LLP. This drops to GBP80.7 million excluding the Sheffield lease incentive, which isn't included for net asset value purposes.
Its net asset value at the end of December was GBP96.0 million, or 101.1 pence a share, up 5.1% from its NAV when it launched last October.
Ediston expects to report its interim results for the six months to end-March in May.
The REIT's shares were up 0.4% at 106.17 pence Friday morning.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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