abrdn European Logistics Income (ASLI) has said that it has received a number of proposals to acquire the company, after putting itself up for sale in November 2023. A broad range of preliminary, indicative non-binding proposals have been made to the company, it said. The company added that “there can be no certainty at this […]
In QuotedData’s morning briefing on 19 February 2024: Unite Students (UTG) has entered into a joint venture framework agreement with Newcastle University for the development of 2,000 new student beds. The scheme will replace an existing student accommodation building at the university’s Castle Leazes site in Newcastle. The Castle Leazes site currently provides 1,250 beds […]
SEGRO reported rental growth across its portfolio of 6.5% during 2023, as occupier demand for logistics space remained strong. Net rental income grew 12.5% to £587m, including new developments and the rental growth within its existing portfolio. This was achieved in the backdrop of falling property values in the high interest rate environment. The group’s […]
Balanced Commercial Property Trust has sold its largest office holding as it continues to reduce its exposure to the challenged UK offices sector and rebalance its portfolio. Contracts have exchanged for the sale of the Leonardo Building in Crawley, a 110,000 sq ft out-of-town business park office, for a price of £26.1m. This represents a […]
The Financial Conduct Authority (FCA) has launched an investigation into scandal-hit Home REIT. Trading in shares of the company has been suspended since January 2023 after allegations of serious wrongdoing by its manager Alvarium surfaced in a short-seller report in November 2022. The allegations in the short-seller report led to a delay in the publishing […]
Life Science REIT has fully let Building 5 at Oxford Technology Park (OTP), covering 57,000 sq ft to WAE Technologies Limited. The technology and engineering services provider, which delivers innovative solutions to a range of sectors including green energy, medical engineering and automotive, has signed a 10-year lease and will pay an annual rent of […]
A possible £3.9bn merger of Tritax Big Box REIT (BBOX) and UK Commercial Property REIT (UKCM) was announced this morning – although UKCM’s chairman has yet to support the deal. BBOX announced that both boards, excluding UKCM chairman Peter Pereira Gray, had “reached agreement on the key terms of a possible all-share offer” for the […]
In QuotedData’s morning briefing 12 February 2024: Warehouse REIT (WHR) has sold two assets in separate transactions for a total of £13.4m. The combined price is 3.7% ahead of the September 2023 book value and reflects an average net initial yield of 5.3%. The sales comprise Warrington South Industrial Estate, a 106,000 sq ft single-let […]
Grit Real Estate Income Group, the pan-African real estate company, has subscribed to its share of a $100m capital call from its development subsidiary GREA (Gateway Real Estate Africa), which will use the funds to construct US Embassy-let diplomatic housing and other real estate. To fund the $51.5m capital call, the company sold its interest […]
In QuotedData’s morning briefing 24 January 2024: Home REIT (HOME) has sold a further 103 properties at auction for £6.6m as the manager attempts to stabilise the portfolio. The sales price was 8.4% below the August 2023 valuation [there was no mention on the discount to acquisition cost (as has been the case in previous […]
