(Alliance News) - Schroder European Real Estate Investment Trust PLC said on Monday it had collected about 96% of rent due for the quarter ended December 31.
The London-and Johannesburg-listed property investor also reported that the direct property portfolio was independently valued at EUR207.1 million, reflecting a like-for-like increase over the quarter of 2.2%, or EUR4.35 million.
This valuation excluded the recently acquired industrial warehouse in Venray, Netherlands. The company has a 50% interest in a joint venture in Seville, which continues to be recognised at nil interest.
Schroder European said the valuation increase over the quarter was driven by yield compression achieved across office, retail and logistics assets within the portfolio reflecting the benefit of having a diversified portfolio, as well as the strength of those individual assets.
In Johannesburg, shares in Schroder European were flat at ZAR25.68 on Monday morning.
By Artwell Dlamini; artwelldlamini@alliancenews.com
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Schroder Eur.r (SERE)