Phoenix Spree Deutschland Ltd - London-based investor specialising in Berlin residential real estate - Notes recent movement in its share price. Says it believes this reflects index reweighting ahead of its removal from the FTSE EPRA index, which will take effect on Monday. Says it is unaware of any adverse material changes in its trading performance, which ‘remains consistent’ with its latest update on February 7.

Highlights of this update included new lettings signed at an average 31% premium to passing rents, ‘a new record high’; condominium sales rising 53% annually to €7.2 million in 2023; and notarisations more than doubling to €5.2 million. Company said it expected the core rental business to continue performing well despite the market remaining challenging.

Current stock price: 139.00 pence, up 12% on Wednesday in London

12-month change: down 42%

Copyright 2024 Alliance News Ltd. All Rights Reserved.