Investment Property Valuation Update

RNS Number : 8368Y

Summit Germany Limited

24 August 2018

 

Summit Germany Limited

(the "Company")

Investment Property Valuation Update

24 August 2018

Summit Germany Limited, the AIM-listed German commercial property investment company, is pleased to announce that based on a new external valuation its property portfolio as of 30 June 2018 was valued at €1,031 million. As of 31 December 2017 the portfolio valuation amounted to €939 million.

The increase in value is attributed to resilience of the German commercial real estate market and to specific improvements in the Company's property portfolio. The Company believes, that following additional increases in rent levels in lease renewals and other developments in the portfolio there is a potential for further upside to the latest valuation.

For further information please contact:

Summit Germany Limited	Tel: [phone]
Zohar Levy - Managing Director
Itay Barlev (Braun) - Finance Director
Non-Executive Chairman	Tel: [phone]
Harry Hyman
Carey Group, Company Secretary	Tel: [phone]
Sara Bourne
Liberum Capital Limited, Nominated Adviser and Joint Broker	Tel: [phone]
Chris Clarke / Jill Li
Cenkos Securities, Joint Broker	Tel: [phone]
Mark Connelly
Russell Kerr / Selwyn Jones (Broking)
Inside Information This announcement contains inside information for the purposes of EU Regulation 596/2014.

 

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