Town Centre Securities - Adding resilience and recycling for growth
As a family run business, Town Centre Securities (TCS) has a strong focus on dividend returns and has increased or maintained DPS in each of the last 58 years, while investing for growth. H119 saw further progress with ongoing portfolio repositioning, targeting increased income resilience while recycling capital to unlock the sizeable future growth and diversification opportunity in the development pipeline. Retail & leisure assets have reduced to 52% of the total from 70% in 2016. We will review our estimates with the interim results in February, but note that a handful of retail tenant failures are likely to have a modest negative impact on near-term income while retail capital values appear to be softening.Town Centre Securities is a specialist regional property investor. Co. is engaged in property investment, development and trading and the provision of car parking. Co. focuses its portfolio in the primary regional cities of Leeds, Manchester, Glasgow and Edinburgh along with suburban London. Co. operates in two business segments comprising property rental and car park operations.
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