In QuotedData’s morning briefing 27 April 2022:
- Schroder UK Public Private (SUPP) holding BenevolentAI has completed its business combination with Odyssey Acquisition, a Euronext Amsterdam-listed investment company. Assuming sufficient secondary market liquidity, BenevolentAI will be valued using its unadjusted quoted price which will be reflected in the company’s daily indicative unaudited NAV per share as of 25 April 2022. The valuation impact of the transaction has already been partially reflected in its net asset value with the AIFM increasing the valuation of the holding from £22.4m as at 30 September 2021 to £28.5m as at 31 December 2021. It is anticipated that the value of the holding as of 25 April 2022 will be approximately £39.6m.
- LondonMetric Property (LMP) has acquired two urban logistics properties for £28.8m, in separate transactions, reflecting an anticipated blended yield of 4.5% and a reversionary yield of 5.0%. The properties are expected to generate a rent of £1.4m per year. They are a 125,000 sq ft urban logistics forward fund development at Crosslink 646 in Leicester which consists of two units and is expected to complete at the start of 2023 and a 9 acre site in Droitwich which is used for vehicle storage and let to Amazon for a further five years with CPI linked rent reviews (1%-3%). It is located at the front of an established industrial estate close to the A38, two miles from J5 of the M5. Amazon’s investment in the parking facility includes EV charging infrastructure for 100 vans. The site has planning consent for a 200,000 sq ft distribution warehouse.
We also have interim results from Henderson International Income, portfolio updates from Octopus Renewables Infrastructure and Tritax EuroBox and a fundraise from Supermarket Income REIT.