Regional REIT - Underlying progress but leasing remains subdued

Regional REIT’s (RGL’s) Q323 trading update includes details of further leasing events, at rents ahead of market levels, and continuing asset sales, at or above book value. However, with the balance of occupiers remaining cautious, as economic prospects are assessed, rent roll and occupancy weakened. Supported by the strong ‘return to the office’, RGL continues to expect an acceleration in leasing, to provide the underpinning for its efforts to reduce gearing while maintaining income and dividends.