KCR RESIDENTIAL REIT PLC

Business and Financial Review • Apr 8, 2019

National Storage Mechanism | Additional information

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RNS Number : 3607V

KCR Residential REIT PLC

08 April 2019

8 April 2019

KCR Residential REIT plc

("KCR" or the "Company")

Trading update on residential rental investment in Southampton

KCR Residential REIT Plc (AIM: KCR), the residential real estate investment trust group, is pleased to announce that its investment in a new build development at Deanery Court, Chapel Riverside, Southampton is now fully let.

Deanery Court is a new build apartment block consisting of 27 two-bedroom apartments and 28 dedicated car parking spaces. It is located on the waterfront in a prominent location on the west bank of the River Itchen, within walking distance of Ocean Village and the city centre.

The current rental income of £345,400 pa is approximately 25 per cent higher than forecast in the acquisition announcement the Company made last year.  The gross yield on the price paid for the acquisition is 5.9 per cent.

Dominic White, Chief Executive, commented: "KCR's Chapel Riverside investment in Southampton has exceeded our expectations by a significant margin and is generating substantial positive cash flow for the company. We expect to make further investments in the short term."

Contacts:

KCR Residential REIT plc Dominic White	info@kcrreit.com +44 20 3793 5236
Arden Partners plc Tom Price, Ben Cryer	+44 20 7614 5917

Notes to Editors:

KCR's objective is to build a substantial low-to-mid-priced residential property portfolio that generates both secure income flow and increasing net asset value for shareholders. KCR acquires blocks of studio and one-and-two-bed apartments that are close to transport links, shopping and leisure. 

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