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QuotedData’s morning briefing 2 September 2021

In QuotedData’s morning briefing 2 September 2021:

  • Grainger (GRI) has raised £209m through the issue of 67,379,369 shares. The shares were placed at 310 pence, represnting a 4.6% discount to its closing price on 1 September. The private rented sector (PRS) specialist will use the proceeds to grow its portfolio of 10,000 homes.
  • LondonMetric Property (LMP) has acquired an urban logistics asset in Cardiff ofr £11.1m, reflecting a net initial yield of 5.0%. The 119,000 sq ft warehouse is let to Global Life Sciences Solutions, trading as Cytiva, on a new 10 year lease with RPI-linked rent reviews of between 1% and 3%. The property generates a rent of £0.6m a year with the contractual rent reviews expected to increase the purchase net initial yield to 5.8% after five years.

We also have interim results from Downing Renewables & Infrastructure.

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