Asset Manager Update

RNS Number : 7666U

Regional REIT Limited

30 March 2023

 

30 March 2023

REGIONAL REIT Limited

("Regional REIT", the "Group" or the "Company")

Asset Manager Update

Regional REIT (LSE: RGL), the regional office specialist, has been informed that the Asset Manager, London and Scottish Property Investment Management is in late-stage discussions to be acquired by a large multi-national asset manager.

The Board believes that should the transaction complete, there will be no disruption to the services provided to Regional REIT. Furthermore, the Board believes the transaction will enhance the overall strength and capabilities of the Asset Manager to the benefit of the Company's long-term strategy.

Over recent months to support its long-term growth, the Asset Manager has invested significantly in enhancing and expanding its team. The Board is reassured that the Asset Manager's staff will remain unchanged, including Stephen Inglis, CEO of the Asset Manager.

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Enquiries:

Regional REIT Limited
Press enquiries through Buchanan
Toscafund Asset Management	Tel: [phone]
Investment Manager to the Group
Adam Dickinson, Investor Relations, Regional REIT Limited
London & Scottish Property Investment Management	Tel: [phone]
Asset Manager to the Group
Stephen Inglis
Buchanan Communications	Tel: [phone]
Financial PR
Charles Ryland, Henry Wilson, George Beale

About Regional REIT

Regional REIT Limited ("Regional REIT" or the "Company") and its subsidiaries (the "Group") is a United Kingdom ("UK") based real estate investment trust that launched in November 2015. It is managed by London & Scottish Property Investment Management Limited, the Asset Manager, and Toscafund Asset Management LLP, the Investment Manager.

Regional REIT's commercial property portfolio is comprised wholly of income producing UK assets and comprises, predominantly of offices located in the regional centres outside of the M25 motorway. The portfolio is geographically diversified, with 154 properties, 1,076 occupiers as at 31 December 2022, with a valuation of c.£789.5m.

Regional REIT pursues its investment objective by investing in, actively managing and disposing of regional core and core plus property assets. It aims to deliver an attractive total return to its Shareholders, targeting greater than 10% per annum, with a strong focus on income supported by additional capital growth prospects.

For more information, please visit the Group's website at   www.regionalreit.com   .

Cautionary Statement

This document has been prepared solely to provide additional information to Shareholders to assess the Group's performance in relation to its operations and growth potential. The document should not be relied upon by any other party or for any other reason. Any forward looking statements made in this document are done so by the Directors in good faith based on the information available to them up to the time of their approval of this document. However, such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking information.

ESMA Legal Entity Identifier ("LEI"): 549300D8G4NKLRIKBX73

 

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