Chris Oglesby at MIPIM 2011

Bruntwood remains on solid footing

Bruntwood reported a slight rise of 2.5% in net asset value for its portfolio of 101 office buildings to £318m in the year to September 2011.

The family-owned property company latest set of results for financial year ending September 2011. Turnover was flat at £99m and pre-tax profit edged up 1% to £11.2m.

Chris Oglesby, chief executive, said: "The economic climate continues to be tough and we have had to work hard, as a team, to deliver these results. We are continuing to focus on our customers in the current marketplace to ensure they have the services, flexibility and competitively priced accommodation that they need."

Oglesby added: "Through the recent economic turbulence, our main focus has been on driving value in our existing portfolio. Looking forward we are keen to grow in the science and technology sector in Manchester as well as to continue to develop our business in Leeds, Birmingham and Liverpool."

Bruntwood raised £42m from the sale in the past week of 1 New York Street, Manchester to Invesco Real Estate.

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