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24 Apr 2019 | 09:46

Ediston Property Investment net assets decrease amid uncertainty in retail market

Ediston Property Investment Co's net asset value total return decreased in the first quarter amid 'extremely' negative sentiment across the retail sector

For the three months to 31 March, NAV total return (including dividends) for the quarter fell 0.7% and the company's portfolio was valued at £328.8m at 31 March - a decrease of 0.9% from the valuation at 31 December. 'The relatively modest fall in the valuation of the portfolio and consequent impact on the NAV has occurred in the context of extremely negative sentiment across the entire retail sector,' the company said. The EPRA vacancy rate was reduced from 6.3% to 3.1% over the quarter, contributing to the limited reduction in value, the company added. 'The continued political uncertainty is causing property investors to adopt a 'wait-and-see' approach to deploying their capital,' the company said. 'Further volatility in capital values is to be expected but this can be mitigated by completing asset management initiatives which secure income and help increase the weighted average unexpired lease lengths of assets.'

At 9:46am: (LON:EPIC) Ediston Property Investment Company Plc share price was +0.25p at 105.75p

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