Share Name Share Symbol Market Type Share ISIN Share Description
Kcr Residential Reit Plc LSE:KCR London Ordinary Share GB00BYWK1Q82 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 49.00p 44.00p 54.00p - - - 0 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 0.3 -0.1 -1.0 - 14

KCR Residential REIT PLC Trading update on investment in Southampton

08/04/2019 7:00am

UK Regulatory (RNS & others)


Kcr Residential Reit (LSE:KCR)
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RNS Number : 3607V

KCR Residential REIT PLC

08 April 2019

8 April 2019

KCR Residential REIT plc

("KCR" or the "Company")

Trading update on residential rental investment in Southampton

KCR Residential REIT Plc (AIM: KCR), the residential real estate investment trust group, is pleased to announce that its investment in a new build development at Deanery Court, Chapel Riverside, Southampton is now fully let.

Deanery Court is a new build apartment block consisting of 27 two-bedroom apartments and 28 dedicated car parking spaces. It is located on the waterfront in a prominent location on the west bank of the River Itchen, within walking distance of Ocean Village and the city centre.

The current rental income of GBP345,400 pa is approximately 25 per cent higher than forecast in the acquisition announcement the Company made last year. The gross yield on the price paid for the acquisition is 5.9 per cent.

Dominic White, Chief Executive, commented: "KCR's Chapel Riverside investment in Southampton has exceeded our expectations by a significant margin and is generating substantial positive cash flow for the company. We expect to make further investments in the short term."

Contacts:

 
 KCR Residential REIT plc    info@kcrreit.com 
  Dominic White               +44 20 3793 5236 
 Arden Partners plc 
  Tom Price, Ben Cryer       +44 20 7614 5917 
 

Notes to Editors:

KCR's objective is to build a substantial low-to-mid-priced residential property portfolio that generates both secure income flow and increasing net asset value for shareholders. KCR acquires blocks of studio and one-and-two-bed apartments that are close to transport links, shopping and leisure.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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April 08, 2019 02:00 ET (06:00 GMT)

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