Yew Grove identifies 'strong pipeline' of acquisitions –

Listed commercial property company Yew Grove Reit says it has identified a “strong pipeline of potential acquisitions”.

The Dublin-listed firm’s credit facilities have increased to €40.4m and its future preference will be for offices in suburban locations, as well as in secondary cities.

Suburban offices will “do well” post Covid, said Jonathan Laredo, CEO of Yew Grove.

In the three months to September 30, Yew Grove collected 98pc of its rent.

This is up on the rental collection rate of 97pc for the three months prior to that, according to interim results from the company.

However, Mr Laredo yesterday told the Irish Independent he was “disappointed” with how the company’s share price – currently trading at €0.83 in Dublin – is performing.

“Liquidity is the main reason the share price is not performing better”, Mr Laredo said, adding that “Ireland is a small market and we are a small company”.

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