RCS - Regional REIT Ltd - Asset Manager Update

Regional REITAnnouncement

30/03/2023 09:45

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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.

 

 

 

- ENDS -

 

Enquiries:

 

 Regional REIT Limited
 Press enquiries through Buchanan

 Toscafund Asset Management                                 Tel: +44 (0) 20 7845 6100
 Investment Manager to the Group
 Adam Dickinson, Investor Relations, Regional REIT Limited

 London & Scottish Property Investment Management           Tel: +44 (0) 141 248 4155
 Asset Manager to the Group
 Stephen Inglis

 Buchanan Communications                                    Tel: +44 (0) 20 7466 5000
 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 (http://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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