Results show defiance in a stagnated economy
Our Q1 and Q2 results show defiance in a stagnated economy.
There is no doubt that the UK economy is facing a tough time with interest rate rises looming over the population and inflation shows no sign of letting up in the short term, with contributing factors enlarged in the macro economic climate. Such as raw commodity prices, political instability and fiscal austerity in the euro zone. Attempts within the UK to steer the economy into reliable progressive growth seems for the short term an uphill struggle.
In the face of challenging times for property prices and rents we have been able to execute deals and acquisitions beneficial to long term growth targets, while showing distinct increases in bottom line figures in the short term.
These are cemented by our N A V (net asset value) seeing an increase of 9.01% from Q4 2010 to Q2 2011. In the same period total rent received increased by 21.04%. These figures were aided via distressed asset acquisitions.
In the same period potential total rent received stood at 20.53%, although this signifies the amount of rent not being drawn it does show the potential growth for total rent received. The gap between P T R R and T R R will be bridged via the void properties undergoing major refurbishment programmes and being offered back to the open market.