London Properties Reports Loss Amid Rental Growth

London And Associated Properties (GB:LAS) has released an update.

London & Associated Properties PLC reported a loss of £3.9 million for the year 2023, a notable downturn from the previous year’s profit of £2.7 million. Despite the loss, the company saw a 1.9% increase in like-for-like rental income, with significant rent uplifts in new lettings at its industrial estates, and maintained strong occupancy and rent collection levels. The overall property portfolio value showed a modest increase from the preceding year, demonstrating asset resilience amid high-interest rates.

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