Register Log-in Investor Type

News

QuotedData’s morning briefing 30 March 2021

In QuotedData’s morning briefing 30 March 2021:

  • Big Yellow has acquired a prime 0.8 acre site in Epsom, South West London for £6.5m. It will be seeking planning permission for a 56,000 sq ft self storage centre on the site. This acquisition takes the number of stores in the group’s pipeline to 13, of which eight have planning consent.
  • GCP Infrastructure has entered into new revolving credit arrangements for an aggregate amount of £165m, replacing the previous revolving credit facility. These are split across two tranches; a three year tranche of £140m expiring in March 2024 and a three-month tranche of £25m expiring in June 2021. The plan is to repay the three-month facility using funds that will become available before then. The facilities have been agreed with three lenders, Royal Bank of Scotland International, Lloyds and Allied Irish Bank. Interest on borrowings is charged at SONIA plus 2.0% per annum. A commitment fee of 0.70% per annum is payable on undrawn amounts.
  • Unite Students, the student accommodation owner, has sold a portfolio of eight properties, comprising 2,284 beds, for £133m to Aventicum Real Estate. The assets are located in Coventry, Wolverhampton, Birmingham, Exeter and Manchester. The group said the sale was part of its strategy to exit “subscale” markets and “improve alignment to high and mid-ranked universities”.
  • SEGRO has appointed Simon Fraser and Dr Linda Yueh as independent non-executive directors. With effect from 1 May 2021, both will become members of SEGRO’s remuneration, nomination and audit committees. Simon will succeed Christopher Fisher as chair of the remuneration committee on 1 July 2021, after he retires from the board on completion of his nine years’ service. Simon Fraser is currently on the board of Derwent London and is also a non-executive director of Legal & General Investment Management, Lancashire Holdings and Lancashire Syndicates. Dr Linda Yueh is currently non-executive director of Rentokil Initial and Fidelity China Special Situations. She is also the chair of Baillie Gifford’s The Schiehallion Fund.

We also have a trading update from Gore Street Energy Storage and results from two hedge fundsPershing Square and BH Global – and Fidelity Japan.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.

You live in…

You are a…