Wynnstay Properties PLC - London-based property development and investment company - Says that of all rents due at June 24, 2022, 100% of rents due to Wynnstay have been collected, with just under GBP2,000 outstanding in total. Says despite all the economic and political uncertainties, there continues to be strong occupational demand for industrial, including trade counter, units which comprise the majority of Wynnstay's portfolio. The portfolio is fully let and income producing, it adds.
"The increases in interest rates this year appear to have resulted in reported upward movement in yields on transactions in the investment market from those prevailing in 2021. This may result in calmer market conditions later in the year to those seen over the past 18 months, with a greater focus on rental growth opportunities. The market for the rest of the year and beyond will be greatly influenced by the evolving economic conditions, changes in interest rates and government actions to control inflation and stimulate growth in the economy," it says.
Current stock price: 700.00 pence
12-month change: down 5.4%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Wynnstay Props. (WSP)