On 21 November, our partner in the Armadillo joint venture, Big Yellow Group (BYG), released its results for the 6 months ending 30 September 2017.
Key highlights for the Armadillo portfolio include:
• Occupancy at 30/09/17 was 78.3%, having peaked at over 80% during the 2017 summer trading season; and
• Average net rental rates over the 6 months were up by 1.2% on the September 2016 half, as Armadillo pursued occupancy growth; and
• The assessed value of the Armadillo centres now exceeds £80m, as directors consider the value of the portfolio has increased by £4.5m since 31 March 2017.
Click here to see the full presentation.
