Max Property has published its results for the year ended 31 March 2014. Over the year its EPRA NAV has risen by 21% from 136.5p to 164.5p on the back of a 12.4% uplift in the value of its property portfolio which, with income, translated into a 19.3% ungeared return on property. Within this its High Holborn Estate rose in value by 24.8% and its investment in St Katherine Docks rose by 16.4%.
Max Property intends to distribute £33m of spare cash to shareholders (15p per share) and says it is still aiming for further returns of value to shareholders over the next couple of years.