The UK’s largest listed property company SEGRO reported an 8.9% uplift in its net asset value (NAV) for 2019, alongside a 10.1% jump in its dividend. In full-year results to the end of December 2019, the industrial property specialist revealed a NAV per share of 708p, up from 650p a year earlier. Meanwhile the full […]
Grainger, the UK private rented housing specialist, has raised £186.7m from a placing. A total of 61.2m new shares in Grainger were placed at a price of 305.0 pence per share, representing a discount of 2.31% to the closing price on 12 February 2020. Including additional debt of around £120m based on company’s LTV target range, the […]
Grainger, the UK’s largest listed provider of private rental housing, has announced it is seeking to raise around £185m from a placing. The group is placing up to 61.2m shares, which represents 9.99% of its shares, and including additional debt of around £120m based on company’s LTV target range, it will generate aggregate funding capacity […]
Grit Real Estate Income Group, the pan-African property investor, has entered into an agreement to acquire a stake in a Moroccan real estate investment trust (REIT). The REIT (or Organisme de Placement Collectif Immobilier (OPCI) as it is known in Morocco) will be made up of one asset – the mixed-use property Massira Corner, located […]
Local Shopping REIT said it will shortly announce a new investment policy with a view to growing the business after years of gradually selling off its portfolio. The company’s former investment policy was to dispose of its assets in order to repay debt and return any surplus value to shareholders. The company last year fended […]
Ediston Property Investment Company’s (EPIC) fund manager Danny O’Neill has bought £435,000 worth of shares in the company. O’Neill, who is chief executive of the company’s investment manager, purchased 500,000 shares at 87p – more than doubling his stake to 858,488 shares worth £746,884. EPIC has been trading at an average 14% discount to its […]
Embattled shopping centre owner Intu Properties has been dealt a body-blow in its efforts to raise £1bn of emergency cash, with Hong Kong’s Link REIT pulling out of discussions to participate in the fundraise. It was reported over the weekend, and confirmed by Intu yesterday, that it was nearing a deal with Link REIT to […]
Supermarket Income REIT is in discussions to acquire a minority stake in a portfolio of 26 Sainsbury’s supermarkets. The group is in talks with a large institutional investor to form a joint venture partnership to buy British Land’s 26% stake in the portfolio, which is reportedly worth around £105m. The properties, which are all let to […]
Flexible office space provider Workspace Group has poached Whitbread finance director David Benson for the role of chief financial officer. Benson will join the board of the company and become a member of the executive committee, when he joins on 1 April 2020. He is currently corporate finance director of Whitbread and previously held senior finance […]
Palace Capital has set a record office rent in York city with the completion of a pre-let agreement at its Hudson Quarter mixed-use development. The company has signed up solicitors firm Knights to the ground floor space on a 10-year lease that will rise to £25/sq ft after two year – marking a record office rent for […]
