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Article: Alpha Pyrenees boosts rental income.

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Investors Chronicle - magazine and web content
Article date:
August 19, 2008
Copyright

Byline: Jonas Crosland

RESULT: Alpha Pyrenees pledges to meet dividend forecast

Alpha Pyrenees invests in the French and Spanish real estate markets, and net rental income rose in the first half from GBP5.91m a year earlier to GBP9.57m, helped by all the trust's leases being subject to index-linked annual rent reviews. What's more, over 83 per cent of rental income comes from grade 'A' tenants, the average lease length rose is 5.1 years and all debt is fixed at an average interest rate of 5.26 per cent with over 90 per cent maturing in 2015.

However, there was a GBP14.4m hit following a lower valuation on Alpha's property portfolio, and ...

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