-
Sparck Technologies awarded Royal designation - 2 days ago
-
OpenADR Alliance announces first OpenADR 3.0 certified products with EVoke Systems, E.ON Energy and Universal Devices - March 25, 2025
-
Growing fulfilment and contract packer appoints new Managing Director - March 25, 2025
-
When is it time to invest in a WMS? Understanding the key trigger points - March 25, 2025
-
eCapital helps Vantage Recruitment on its journey to financial success - March 24, 2025
-
Hugo Beck Celebrates 70 Years of Packaging Innovation with Open House Events - March 20, 2025
-
PROLOG FULFILMENT SUPPORTS LUNA DAILY’S COMMITMENT TO BETTER BODY CARE FOR ALL WOMEN - March 19, 2025
-
Motion Ventures launches largest-ever maritime tech fund at $100M to meet the industry’s new pace of adoption - March 18, 2025
-
ITD GLOBAL APPOINTS GROUP CHIEF REVENUE OFFICER - March 17, 2025
-
SURECAM TEAMS UP WITH ENTERPRISE FLEX-E-RENT FOR VEHICLE REPAIR & MAINTENANCE CONFERENCE - March 14, 2025
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.