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(Alliance News) - Schroder European Real Estate Investment Trust PLC on Tuesday reported a rise in the amount of rent collected over the first quarter of its financial year, as well as in the value of its portfolio.
For the quarter to the end of December, the real estate investor collected 89% of rent, ahead of the 87% of rent collected for the previous two quarters.
In addition, as at December 31, Schroder European's property portfolio was valued at EUR276.1 million, up 2.8% from the EUR268.6 million figure at the end of September.
The trust attributed the valuation increases to new lease agreements at its Hamburg office investments, estimated rental value growth across its industrial assets, and the refurbishment of its Boulogne Billancourt asset in Paris, France over the quarter.
Schroder European Real Estate said that it will announce its net asset value and dividend for the quarter in early March.
Shares in Schroder European Real Estate were untraded on Tuesday in Johannesburg, last quoted at ZAR21.84. Its London shares were last quoted at 103.00 pence.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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