In a statement, Conygar said it made a
Conygar also reported a
"In their opinion, the open market value of the investment property portfolio was
Conygar said its contracted annual rent roll fell by
"We continue to work hard at letting vacant space, retaining tenants and pushing down irrecoverable property costs, and so the cash yield on the portfolio remains strong. The portfolio vacancy rate remains at 17.8%. We made no acquisitions in the period," Conygar said.
"We are also looking at various refurbishment and redevelopment opportunities at several of our investment properties. In particular, we have submitted a planning application for a proposed redevelopment of the Ashby Gateway site at
During the period, Conygar's net asset value per share, the value of its assets after subtracting liabilities, divided by the number of its shares in issue, increased to
"The economic outlook continues to improve, and this is reflected in both the investment portfolio valuation and the increased rate of progress on the development projects. If the current improvement in the economy continues, Conygar is well positioned to deliver on the potential which exists within both our investment property portfolio and the development opportunities,"
"We continue to grow net asset value per share and we believe that our carefully managed development projects have the potential to deliver further significant growth over the next few years. However, we remain disciplined in our approach to risk management, an approach that has served us well over the period of the downturn and is a cornerstone of our strategy," Ware added.
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