StockMarketWire.com - The Local Shopping REIT reports continued letting continued letting and disposal successes in the four months to the end of January.

The company says that during the period the annualised rent roll from the core portfolio was maintained at £16m and there was a reduction in the core commercial void rate to 7.3% by rental value (30 September 2012: 7.7%) with an overall void rate of 10.5% (30 September 2012: 10.9%), the lowest rate since November 2008, of which 2.4% is deliberate (30 September 2012: 2.5%).

Disposals totalled £1.13m of ex-growth properties, achieved at an average of 17.4% above September 2012 valuation.

Joint chief executive Nick Gregory said: "The portfolio continues to perform well and we have leveraged the expertise of our specialist management skills in order to bring down the void rate to its lowest level over the last four years. We have also continued to make good progress in growing rents through rent reviews and lease renewals, achieving these at significant premiums to market rent."




At 8:07am: [LON:LSR] share price was 0p at 28.75p



Story provided by StockMarketWire.com