Trading Update for the Period from 1 July 2016 to 25 October 2016; Provides Revenue Guidance for the Year 2016 and 2017
The company provided revenue guidance for the year 2016 and 2017. The company expects to remain on target to deliver growth in like-for-like net rental income for 2016 in the range of 3% to 4%. The company expects this momentum to continue in 2017 with good progress on lettings and rent reviews as set out in this statement.
The company also has opportunities to improve the tenant mix from re-letting the BHS stores and taking major stores back for remodelling at intu Lakeside and intu Merry Hill. The void periods this creates could impact 2017 growth by 2% to 3% resulting in a lower level of aggregate growth in like-for-like net rental income than the company expects to achieve in 2016.