LSR sees regional retail variations

26th May 2011 12:54

The chairman of retail property group Local Shopping Reit said the company's wide geographic spread should help it cope with some regions of the country suffering more than others as the fiscal squeeze takes effect.The company, which owns convenience stores and other properties, said gross rental income in the six months to 31 March climbed to £8.1m from £7.5m the previous year, helped by acquisitions."Although we are aware that some regions may be more adversely affected than others by the ongoing fiscal squeeze, we are confident that the wide geographic spread and diversity of our assets and tenant base, with its focus on non-discretionary consumer spend, will continue to support our strong, cash generative business model," said chairman Grahame Whateley.