Town Centre Securities on target
PROPERTY development and investment company Town Centre Securities today reported performance in line with its expectations.
In an interim management statement covering the period January 1 to May 10, it said it had remained focused on its existing portfolio of investment properties and car parks.
The Leeds-based group owns the Urban Exchange retail outlet on the edge of Manchester city centre and other assets around the Piccadilly Basin.
Chairman Edward Ziff said: “Town Centre Securities PLC continues to perform in line with our expectations. Our strong asset management capabilities and focus on the value for money retail sector continue to serve us well.
“We are looking forward to the Leeds Arena opening in July and to the significant impact it will have on Leeds and the Merrion Centre in particular.
“We are delighted to have secured council backing to build a new 36,000 sq ft store for Waitrose in Milngavie, Glasgow. Our high occupancy level continues to underpin our rental income and we continue to work with our tenants to provide them with opportunities to grow their profitability, recognising that they operate in a difficult economic climate.”
