With 2011 coming to a close, we look back on the year and focus on 2012.
Over the past 12 months we have made acquisitions totalling more than 200,000 sq ft, most of that being industrial space in prime locations across the South East. Through out the year we have positioned ourselves to take advantage of depressed asset values and look to exploit high rental yields. With this strategy in mind we have been implementing major refurbishment works along side the acquisitions to release maximum value.
We currently have a 18 month schedule of works to complete the turn around of the Launton rd Industrial portfolio as well as other recently purchased premises, with a number of pre lets and increased tenant demand the vacancy rate on the new portfolio has been reduced dramatically.
The current demand for indudstrial space in Oxfordshire and Buckinghamshire has increased as the year comes to a close, our presence and the lack of high quality industrial space has put us in a strong position with our occupancy rates across the entire portfolio. Our void rates are now below 8% including the property under refurbishment and development which are not being marketed.
We remain focused and orientated by strong rental yields and the current climate has played in our favour. The office and retail sector remains a challenging market, our strategy of efficient and strong asset management has not exposed us to excessive increases in office and retail vacancies.
In 2012 we should see the acquisitions across this year and the efficient allocation of capital come into fruition, especially on the depressed assets as works are completed and rents are drawn, realising strong rental yields and capital values.