Summit Germany Limited Investment Property Valuation Update (8368Y)
24 August 2018 - 8:16PM
UK Regulatory
TIDMSMTG
RNS Number : 8368Y
Summit Germany Limited
24 August 2018
Summit Germany Limited
(the "Company")
Investment Property Valuation Update
24 August 2018
Summit Germany Limited, the AIM-listed German commercial
property investment company, is pleased to announce that based on a
new external valuation its property portfolio as of 30 June 2018
was valued at EUR1,031 million. As of 31 December 2017 the
portfolio valuation amounted to EUR939 million.
The increase in value is attributed to resilience of the German
commercial real estate market and to specific improvements in the
Company's property portfolio. The Company believes, that following
additional increases in rent levels in lease renewals and other
developments in the portfolio there is a potential for further
upside to the latest valuation.
For further information please contact:
Summit Germany Limited Tel: +44 (0) 1481 700 300
Zohar Levy - Managing Director
Itay Barlev (Braun) - Finance Director
Non-Executive Chairman Tel: +44 (0) 20 7451 7050
Harry Hyman
Carey Group, Company Secretary Tel: +44 (0) 1481 700 300
Sara Bourne
Liberum Capital Limited, Nominated Adviser Tel: +44 (0) 20 3100 2222
and Joint Broker
Chris Clarke / Jill Li
Cenkos Securities, Joint Broker Tel: +44 (0) 20 7397 8900
Mark Connelly
Russell Kerr / Selwyn Jones (Broking)
Inside Information
This announcement contains inside information for the purposes
of EU Regulation 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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