Wynnstay Properties' portfolio gains £771,000 in value
Property investment and development company Wynnstay saw its investment portfolio gain in value over the last nine months.
Real Estate Investment & Services
2,264.74
17:14 28/03/24
Wynnstay Properties
690.00p
16:55 28/03/24
Wynnstay told investors on Thursday that an independent assessment team had revalued the firm's investment properties at £35.09m, when adjusted for acquisitions and disposals, for a 2.25% year-on-year increase worth roughly 28p per share before tax.
The AIM-listed group also issued an update regarding the possible disposal of its Basingstoke property.
Wynnstay revealed that the nine-month lease and option to purchase granted to Bolling Investments had expired on 31 March but was extended on the same terms for a period of six months after the tenant applied for planning permission in December. Bolling was still awaiting a decision on its application.
As of 0840 BST, Wynnstay shares had inched forward 0.77% to 302.30p.