Highcroft’s property income grows 22% in 2017 – Highcroft Investments (HCFT) delivered its final report for the calendar year ending 31 December 2017.
Headlines:
- 22.0% increase in gross property income, which is the strongest performance over the last 5 years
- 16.8% increase in investment property valuation
- Property acquisitions of £9,480,000 (net of costs) and disposal proceeds of £2,292,000
- 8.4% increase in net asset value per share
- 57.5% increase in earnings per share
- Net gearing of 29%
- 12.8% increase in total dividend
Highcroft’s portfolio activity and positioning
During the year the managers purchased two warehouses. 74% of the portfolio is in warehouses and retail warehouses with a small amount of residual residential and the remainder split between well let retail and offices.
The chairman commented that the property rental growth of 22% for the year and with contracted rent at the year end being 21% up on the previous year end, the increase in rental income should continue into 2018.
HCFT : Highcroft’s property income grows 22% in 2017