Town Centre upbeat on prospects

PROPERTY company Town Centre Securities said the improvement in market conditions seen last year has continued into 2010.
By The Newsroom
Published 14th May 2010, 10:55 BST

The Leeds-based company said it is now in a position to take advantage of any sustained improvement in the economic environment.

The group said that its strong investment portfolio, and in particular its commitment to value for money retailing, is a distinct advantage.

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It continues to look for opportunities to expand the property portfolio and car parking business and said its criteria is to identify "well priced opportunities with value today, not the promise of value tomorrow".

Whilst the tenant environment continues to be challenging, it has re-let over 90 per cent of the premises hit by tenant failures.

"Our positive, long term approach has been a major driver in maintaining our overall rental income although rental negotiations inevitably continue to be impacted by current economic circumstances," said chairman and chief executive Edward Ziff.

"Our rental collection performance has been strong and we remain ever vigilant on tenant quality."

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