Metric Adds Further Long Term Value Through New Lettings and Planning Gains
Metric today announces its third quarter interim management statement for the period from 1 October 2011 to 8 February 2012. Good ongoing progress in attracting new tenants; five lettings exchanged (including Boots, Next, Marks & Spencer, Hobbycraft and Sleepright) and a further eight in solicitors' hands to add an aggregate £1.5 million, or 11% growth in rental income, on average unexpired leases of 11 years. Developments to commence on new 49,000 sq ft retail park at Bishop Auckland where six lettings have been agreed taking pre-letting up to 84% and on new 25,000 sq ft retail park at Cannock where pre-letting has reached 85% with a further 5% under offer.
The full announcement can be found in the attached file.