In QuotedData’s morning briefing 31 January 2022:
- Bluefield Solar Income (BSIF) has acquired the development rights for a 20 MW battery storage project for approximately £1.5m from Shaw-Energi Ltd. The project is based in Liverpool and construction is expected to begin during 2022. Meanwhile BSIF has also announced its first interim dividend of 2.03 pence per ordinary share will be payable to shareholders on the register as at 11 February 2022 with an associated ex-dividend date of 10 February 2022 and a payment date on or around 10 March 2022. The board has reaffirmed its guidance of a full year dividend of 8.12 pence per ordinary share for the financial year ending 30 June 2022. This is expected to be covered by earnings and be post debt amortisation.
- Custodian REIT (CREI) has sold a high street retail unit in Norwich for £1.305m, in line with the most recent valuation. The property, which was originally acquired as part of the IPO portfolio in 2014, is currently let to Specsavers with 7.7 years to expiry. The disposal forms part of the company’s strategy of reducing exposure to secondary high street retail assets.
- Sirius Real Estate (SRE) has announced two changes of roles within its senior management team. Alistair Marks, current chief financial officer, will be taking up the newly created role of chief investment officer, while Diarmuid Kelly, current group finance director, will join the company’s board of directors as chief financial officer.
- Alternative Income REIT (AIRE) has completed the acquisition of a Volvo car showroom in Slough for £5m. The price reflects a net initial yield of 5.0% and a discount to replacement costs. The asset has been acquired with a weighted average unexpired lease term (WAULT) of over 15 years. The lease to Volvo Car UK Limited, which forms part of the Volvo Group, which is ultimately owned by Zhejiang Geely Holdings Group, a Chinese multinational automotive manufacturing company, expires in March 2037 and is subject to five-yearly upward only rent reviews linked to RPI. The reviews contain a collar of 1.5% per annum and a cap of 3.5% per annum. The asset has a passing rent topped up by the vendor to £270,000 per annum until the next rent review, which is due on 17 March 2022. The property is wholly sub-let and occupied by Endeavour Automotive Limited.
Meanwhile, Aquila Energy Efficiency has announced a portfolio update and board changes and we have annual results from Henderson Opportunities and Jupiter Emerging and Frontier Income.