AGM Trading Update
Wynnstay Properties PLC has provided a positive trading update ahead of its Annual General Meeting, reporting that the financial year ending March 25, 2027, has commenced well and operations are in line with expectations. The company has successfully completed new lettings and lease renewals in Uckfield, Aylesford, and Heathfield, with rents matching or exceeding previous valuations, and has terms agreed for further units in Norwich and Stevenage. Both previously vacant units in Liphook are now under offer, indicating the portfolio will soon be fully let. Furthermore, 99% of the rent due for the first quarter of the current financial year has been collected, demonstrating strong tenant retention and favourable market conditions.
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Wynnstay Properties PLC (AIM:WSP) (the Company) is pleased to provide a trading update ahead of the Annual General Meeting of the Company to be held later today:
o The financial year ending 25 March 2027 ("the current Financial Year") has started well with operations in line with expectations.
o Wynnstay has completed a new letting of a unit in Uckfield in advance of an exercised break option by the previous tenant so that income has been both maintained and increased over the previous level and over the estimated market rental value used in the March valuation.
o The Company has also completed lease renewals for three units in Aylesford and Heathfield and agreed terms for four more in Norwich and Stevenage, all at rents that match or slightly exceed the estimated market rental value used in the March valuation. These positive outcomes demonstrate good tenant retention and market conditions.
o Both units in Liphook reported as vacant at year-end are now under offer in solicitors' hands. On completion of these lettings, the portfolio will be fully let.
o 99% of the rent due for the first quarter of the current Financial Year has been collected.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.