28 Jun Témpore Properties sees occupancy rate rise to 89%

During its first six months of operation, Témpore Properties, the Socimi specialising in residential property lettings and formed by Sareb, saw the occupancy rate of its rental properties increase by 5% to 89%. At the company’s first Annual General Shareholders Meeting, Témpore CEO Nicolás Díaz Saldaña explained that this increase was thanks to the signing of 188 new lease agreements, including both new lettings and lease extensions. The company is committed to continue improving its occupancy rate over the coming months, as it gradually adds more income-producing properties to its portfolio. More specifically, Témpore has announced that is about to put a further 79 homes on the market, at a development located in Ensanche de Vallecas (Madrid), which will also help to reduce surveillance and security costs at the property. The Socimi has also managed to reduce the percentage of unpaid rents to below 5%[R1] .

Témpore Properties will reach its scheduled gross yield of 5.5% before 2020, the target date set out in its original business plan. According to Nicolás Díaz Saldaña, this achievement is down to improvements in the management of its properties.

The company, which debuted on the Alternative Stock Exchange (Mercado Alternativo Bursátil – MAB) last April, remains committed to reaching the €500 million in assets under management in the next two years. Témpore holds a right to make advance offers on Sareb’s properties in order to ensure growth in the next two years, along with potential acquisitions from third parties.

The General Shareholders’ Meeting approved the company’s financial statement and management report for the period between 7 July and 31 December 2017, as well as the appointment of Grant Thornton as Accounts Auditor between 2018 and 2020.