Liberty has 5% valuation surplus.

Posted On Friday, 31 January 2003 10:01 Published by eProp Commercial Property News
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UK-BASED property group Liberty International emerged from last year's harsh trading conditions with a 5,2% valuation surplus.

Donald GordonYesterday the group released new independent valuation figures of its property assets, which showed a valuation surplus of £177,5m equivalent on a diluted basis to 54p a Liberty share. The value of Liberty's total investment properties came to more than £4,5bn at the end of last month.

Liberty chairman Donald Gordon said these valuation results were a clear demonstration of the strength and resilience of prime regional shopping centres.

He said that these results had been achieved in a year when equities had performed poorly, many sectors of the economy had struggled and office markets had come under considerable pressure.

About 90% of Liberty's assets are made up of retail developments, and 82% of its assets are regional shopping centres. The valuation of the regional shopping centres in the UK rose £423m to £3,640m.

Gordon said the £177m valuation surplus in Capital Shopping Centres could be attributable to higher rental values, improvements in the true equivalent yield bases and net capital investment.

Last modified on Tuesday, 06 May 2014 16:35

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