Wynnstay Properties PLC (WSP), the AIM-listed UK commercial property investment company, has published interim results for the six months ended 29 September 2026, reporting rental income growth of 1.5% to £1,428,000 and a 3.6% rise in net asset value per share to 1,215p. The board has declared an increased interim dividend of 11.0p per share, up 4.8% from 10.5p in the prior year period, payable on 18 December 2026 to shareholders on the register at 4 December 2026. The announcement also confirms progress on board succession and flags refinancing activity ahead of existing Handelsbanken facilities maturing in December 2026.

Key Points

  • Wynnstay Properties PLC (WSP), AIM-listed UK commercial property investor
  • Rental income rose 1.5% to £1,428,000 for the six months ended 29 September 2026; income before taxation fell 2.7% to £758,000
  • Interim dividend increased to 11.0p per share, payable 18 December 2026; NAV per share up 3.6% to 1,215p; annual rent roll anticipated to exceed £3 million for the first time
  • Investors should watch the completion of new Handelsbanken facilities to replace those maturing December 2026, and progress on seven active rent reviews

Eight New Leases Completed and Annual Rent Roll Set to Exceed £3 Million for the First Time

Wynnstay completed eight new leases during the half-year, comprising six renewals with existing tenants across properties in Aylesford, Heathfield, Norwich, and Stevenage, plus new open-market lettings in Uckfield and Liphook. The aggregate annual rent from these leases is £275,510, representing a 4% premium to the independent portfolio valuation dated 25 March 2026. Since the period end, a significant lease renewal in Banbury on a 10-year term and a new letting in Liphook together account for £150,000 per annum of rent, 9.8% above estimated rental values, with the company stating its annual rent roll is anticipated to exceed £3 million for the first time.

Weston-super-Mare Disposal Delivers £665,000 Sale Price Against £490,000 Valuation

The sale of the Weston-super-Mare property, completed in April 2026 following an auction on 24 March 2026, achieved £665,000 against an independent valuation of £490,000 for the year ended 25 March 2025. The gross profit on the sale was recognised in the prior year accounts as a revaluation surplus. A net loss on disposal of £17,000 shown in the current half-year reflects auction and legal costs incurred after the sale completed. The disposal reduced rental income during the period, partially offset by eight new leases and a full six months of income from the Waterbeach, Cambridge property acquired in May 2025.

Handelsbanken Facilities of £10.597 Million Due for Refinancing as Base Rate Rises to 4%

Wynnstay held borrowings of £10.597 million from Handelsbanken at 29 September 2026, comprising a five-year loan of £9.997 million fixed at 3.61% from December 2021 and £0.600 million drawn under a revolving credit facility at variable rates. The existing facilities mature in December 2026, and the announcement states that formal processes for new facilities are progressing, with an announcement to follow on completion. The company retains £4.4 million undrawn under its £5.0 million revolving credit facility and held cash of £0.533 million. The Bank of England raised its base rate to 4% on 5 November 2026, with the announcement noting further increases may follow.

Hugh Ford Named Chairman Designate as Philip Collins Plans Retirement in March 2027

Wynnstay announced on 25 September 2026 that Hugh Ford had been appointed Chairman Designate with effect from 30 September 2026, following a recruitment process conducted by specialist firm Forrester & Partners. Ford, who joined the Wynnstay board in March 2023, will succeed Philip Collins as Chairman from 26 March 2027. The announcement notes that further non-executive director appointments are expected through the same recruitment process, with confirmations to follow. The board also indicated that the 2027 Annual General Meeting is scheduled for 14 July 2027 at the RAC Club, with the next Annual Report due in mid-June 2027.