TCS continues retail and leisure sell-off

Town Centre Securities, CitiPark

Town Centre Securities (TCS) has reduced the proportion of retail and leisure assets in its portfolio to 52%, down from 70% in 2016, when the group began selling assets in the sector.

In a trading update for the six months to the end of December, TCS added occupancy levels across its portfolio nudged up to 96%, while like-for-like passing rent was up by 0.9%. The group also said its CitiPark car park business continued to grow its revenues and profits.

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