In QuotedData’s other news 31 January 2020
- Fidelity Asian Values confirms that with effect from 1 February 2020 its comparative index (performance benchmark) will be the MSCI AC Asia ex Japan Small Cap Index (net) total return (in Sterling terms)
- PRS REIT’s NAV has slipped a little, from 95.8p at the end of June 2019 to 95.0p at he end of December. The statement reads as though this is down to it paying dividends not matched by income – a large part of its portfolio is under construction or in planning.
- Residential Secure Income REIT’s NAV has dipped from 108.6p at the end of September 2019 to 107.7p at the end of December. HMRC ruled that VAT is chargeable on property managers’ salaries and this means higher service charges. Also 59 apartments at Clapham Park, intended for shared ownership, have been acquired. Over half of these are already reserved by customers at sales price at least in line with the target at acquisition, these units will be income producing in February. ReSI is committed to buying 73 more and plans to complete this before the end of March 2020.
- Yew Grove REIT has agreed a EUR9.9m increase to its three year floating rate loan facility with Allied Irish Banks, bringing the total to EUR39.0m. The facility is in place until December 2021 and interest is charged on a margin over three month Euribor.
- Picton has completed the disposal of a distribution warehouse in Lutterworth, Leicestershire for £15.9m. 3220 Magna Park, is a 160,000 sq ft detached building constructed in 1989 and let to DHL. During the summer, Picton restructured the lease and secured a further three years term certain until a tenant break option in December 2022. As part of the same transaction, the December 2019 rent review was settled securing a 11% uplift to £1m a year, achieving one of the highest rents at the Park. The sale price reflects a net initial yield of 5.8% and 4% uplift to the independent September 2019 valuation.
- Greencoat UK Wind’s NAV dropped from 122.9p at the end of September 2019 to 121.4p at the end of December. We’ll find out why on 27 February when the fund publishes its accounts but we expect its power price assumptions have been lowered in line with other renewable energy companies.