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Balanced Commercial Property Trust Ltd - UK commercial property investor - Net asset value at December 31 falls 15% to 118.5 pence from 139.6p at September 30. ‘Portfolio capital value decrease of 12% over the quarter on a like-for-like basis, driven by market yield movement,’ the company says. Total NAV return for the quarter ended December 31 is negative 14% and year-to-date total return is negative 9.2%.
‘The early stages of 2023 have seen an improvement in sentiment as investment activity has picked up and pricing for core assets within the industrial, retail warehousing and student sub-markets in particular have begun to show initial signs of stabilisation. Furthermore, occupational markets have remained resilient, as evidenced by the reduction in the portfolio void rate from 6.4% to 5.9% by estimated rental value,’ Balanced Commercial Property says.
Current stock price: 79.59 pence each, down 1.7% on Monday morning in London
12-month change: down 30%
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