LONDON (dpa-AFX) - British real estate investment trust Shaftesbury PLC (SHB.L) Tuesday said its wholly-owned portfolio valuation as on September 30 was 3.2 billion pounds, down from 3.3 billion pounds as on March 31.
The company said that the decrease in the valuation since 31 March primarily reflects an increase in yields, partly offset by Estimated Rental Value or ERV growth and an increase in annualised current income with continued improvement in occupancy levels.
Over the second half, like-for-like ERV growth was 2.4% bringing growth for the year to 30 September 2022 to 9%.
On a like-for-like basis, portfolio ERV has now recovered to 4.6% below pre-pandemic levels, with hospitality and leisure now 5% lower and retail down 15% overall, Shaftesbury added.
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