-
Combilift Scoops ‘Company of the Year’ at the 2024 Business & Finance Awards - December 18, 2024
-
DERRY BROS TARGETS CUSTOMS AND INTERNATIONAL FREIGHT SECURITY AND EFFICIENCY WITH AEO ACCREDITATION - December 17, 2024
-
GATINEAU CHOOSES ITD GLOBAL TO SUPPORT GROWTH - December 17, 2024
-
Logistics sector to see 3% wage growth in 2025, new report reveals - December 16, 2024
-
Wearables in the warehouse – much more than a fashion statement - December 10, 2024
-
STEPN GO and adidas launch First-Ever STEPN GO x adidas Physical Shoe Drop - December 6, 2024
-
CLOSING UP FOR WINTER - December 5, 2024
-
New report shows that around nine in 10 UK e-commerce firms now prioritise sustainability - December 5, 2024
-
Automation from KNAPP pushes order cut-off back by 6 hours for Matalan - December 5, 2024
-
Bridgestone Debuts Two New Truck Tyres for Mild On/Off Segment, Delivering Lasting Performance on Any Terrain - December 4, 2024
LANGTREE SEES PROFITS DOUBLE AS OCCUPANCY AND RENTS BOTH RISE
NAV and portfolio value also rise strongly
Warrington-based commercial property company Langtree says that occupancy and rents have both risen in the last financial year.
In its results for the year 2021/22, company Chairman Tim Johnston also highlights a 130 per cent increase in profit before tax to £5.3m and a 45 per cent increase in net asset value to £16.4m, but says the firm needs to be ‘ever vigilant,’ given current economic headwinds.
Other key metrics for the company, which specialises in joint ventures and partnerships with local authorities as well as providing asset management services to institutional landlords include:
- more than 3m square feet of property under ownership or management
- more than 600 tenants
- 92 per cent occupancy
- annual rent roll of £23m
- value of estate under management of £530m
- sites across the north west, Yorkshire, the midlands, and the south west.
- Gross development value of the assets under its control exceeds £1bn.
“This is a very strong set of results delivered by an exceptional team in every part of the business,” said chairman Tim Johnston.
“Langtree is a solid commercial business which is an ideal platform allowing us to undertake and deliver complex regeneration projects that are both value-creating and which support our local authority partners’ social and economic ambitions,” said Mr Johnston.