Brixton’s released its first-half figures yesterday, showing a rise in net asset value per share of 11.4% to 595p, ahead of analysts’ forecasts.
The industrial developer’s interim pretax profits also went up by 48.6% to £192.3m, on the back of valuation increases.
The rise in value was down to falling yields and buyer demand forcing up prices. Rental income rose by 4.8% on rent reviews and new lettings, beating the IPD average rise of 0.6%.
The company rejected the idea of a share buyback in favour of using its cash to make purchases.