Regional REIT (RGL) Q3 2025 TU earnings summary

Executive summary

• Achieved £17.1m of property disposals in Q3 2025, 1% above June 2025 valuation, progressing toward the upper end of the £40m–£50m full-year disposal target.

• Leasing momentum slowed by economic uncertainty and inconsistent UK Government messaging, leading to longer transaction timelines.

• Continued focus on reducing leverage and proactive asset management to drive rental growth and occupancy.

Financial highlights

• Rent roll at £54.3m as of 30 September 2025, down from £56.7m at 30 June 2025.

• Gross property assets valued at approximately £595.9m, down from £608.3m at 30 June 2025.

• Q3 2025 dividend declared at 2.50 pence per share, payable as a REIT property income distribution.

• Cash and cash equivalents at £54.4m; gross borrowings at £303.6m, reduced to £282.0m post period-end disposals.

Outlook and guidance

• Subdued investment market expected to persist, with positive leasing momentum offset by extended transaction timelines.

• Board remains focused on strategic disposals, asset repositioning, and maintaining operational discipline and dividend continuity.

• Further disposals anticipated in Q4 2025 to support portfolio repositioning and balance sheet strengthening.