HICL has acquired an 85% interest in the University of Bourgogne PPP (four new academic buildings on the university campus) and a 90% interest in the Troisseruex by pass RD901 PPP (a 7km dual carriageway being built as a bypass for the town of Troissereux near Beauvais). The total outlay for the two projects is […]
Invesco Property Income has confirmed that its sales of an office building in Rozendal Park, Hoeilaart, Belgium (pictured) and another office building in Gerrards Cross, Buckinghamshire have completed. the sales raised €7.96m and £3.21m for the fund respectively (uplifts of €0.16m and £1.47m over previous valuations). The proceeds have been used to repay borrowings. IPI has […]
McKay Securities has bought a 51,500sq ft office and retail building, 1 Crown, Place Woking for £6m – equivalent to an initial yield of 9.3% (an average rent of £11.60 per sq ft).
Majedie has appointed Majedie Asset Management as its sole investment manager and has decide to close its hedge fund business, Javelin Capital and redeem its £29.5m investment in Javelin Capital Emerging Markets Alpha Fund. Majedie Asset Management will purchase 10% of its share capital from Majedie Investments – reducing the fund’s interest in the asset management […]
The financial year to the end of September 2013 was transformative for Henderson Value Trust as, following a period of disappointing investment performance, the management contract moved from SVM Asset Management to Henderson Global Investors and the fund changed its name (from SVM Global). Over the year the fund’s NAV rose by 4.3%, well behind the increase in its benchmark, […]
On 9 January 2014 Schroder Real Estate raised £17.2m by issuing 35.6m new shares at 48.25p. The money has been used to buy the Arndale Centre in Headingley, near Leeds, for £16.2m. They bought the centre from the receivers. The Arndale Centre is a 125,834 sq ft retail, leisure and office estate. At the moment […]
Hammerson is acquiring a 75% stake in Saint Sebastien shopping centre in Nancy, France for £109m, equivalent to an initial yield of 6%. Recent rent deals have been agreed at a 10% uplift. Hammerson hopes to create significant value by renovating the centre, introducing a dedicated restaurant area and refreshing the tenant mix. The centre, in central […]
The Board has negotiated a reduction in the annual management fee from 1.5% of net assets to 1.25% of net assets. The change took effect on 1 January 2014.
Derwent London has bought 22 Kingsway WC2, an eight storey, 91,400 sq ft freehold office building let to Kings College London and the 44,000 sq ft Peacock Theatre (let to the London School of Economics for just £1 per annum until 2054). The price was £59.3m (after costs), equivalent to a yield of 5.1%.
Hansteen has announced the sale of 27 assets (11 industrial estates in the South West of the UK and a further 16 individual assets) over the course of Q4 2013 for a total consideration of £76.4m. Hansteen made £4.2m profit on the sales which included the disposal of Horndon Industrial Park in Essex, the Malthouse Estate […]
