LONDON (Alliance News) - Highcroft Investments PLC Wednesday said it remains on the lookout for properties that provide it with secure income as well as offering a potential increase in value.
In a statement, Highcroft said it is also looking for opportunities to "rationalise" the existing portfolio to enable the average lot size to be increased, as it tries to achieve efficiencies in management.
The company added that it is "well positioned" to increase its level of borrowing, but no further debt has been added to the portfolio. That said, the option is "continually under review" in order to enable the company to take advantage of any potential opportunities.
"The board believes that the current strong property investment market will continue for the immediate future. We will look to invest in quality properties biased towards the south of England where we think we can enhance value and maintain a long-term income stream," Highcroft said in a statement.
Highcroft Investments said its equity portfolio was valued at GBP4.6 million on Monday, "having continued to perform in line with the relevant benchmarks of the FTSE 100 and the All-Share Indices this year".
Highcroft Investments shares were down 1.2% at 805.00 pence on Wednesday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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