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Redefine updates on AUK progress

12 July 2016 07:41

Redefine International announces good progress ahead of initial expectations on asset management initiatives on its recently acquired Aegon UK (AUK) portfolio.

Following the EU referendum result, the Company has completed two encouraging leases totalling £0.6 million which represents a 10% increase on ERV.

Since exchanging contracts on the AUK portfolio in September 2015, the Company has increased the AUK portfolio's WAULT from 7.5 years to 8.0 years, saved £0.3 million in vacancy costs and achieved an additional uplift of £0.6 million to annualised rental income, representing a 5% increase on ERV.

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Related Company: RDI

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