Tritax Big Box REIT said it was looking to recycle capital from the sale of specific assets in order to fund its development pipeline. In a trading update, the group said it was targeting an average yield on cost of between 6% and 8% across its developments, well above the group’s current portfolio valuation yield of 4.5%. […]
Tritax EuroBox has acquired two recently developed prime logistics properties and development land in Poland for €66.8m. The purchase of the assets, which are located in Strykow, near Lodz in Central Poland, reflects a net initial yield of 6.1%. Tritax EuroBox also has the option to buy development land adjacent to one of the buildings […]
Impact Healthcare REIT, which owns a portfolio of UK healthcare real estate assets, has reported a slight increase in its net asset value (NAV) in the three month period to the end of December 2019. The group’s NAV at 31 December 2019 was £340.7m or 106.81 pence per share, compared to £303.7m or 106.00 pence per share at 30 […]
West End of London landlord Shaftesbury bucked the trend of retail negativity and reported a strong Christmas trading period. The company, which owns a 15.2-acre portfolio in the heart of the West End including Carnaby Street, said early data indicated retailers and food and beverage operators in its portfolio saw turnover and footfall growth in […]
Phoenix Spree Deutschland, the UK listed investment company specialising in Berlin residential real estate, questions Berlin Senate’s competency regarding proposed rent controls in the city. The company said it had concerns over whether the Berlin Senate, which passed a draft bill for rents to be frozen for five years in November 2019 and is expected to […]
Regional REIT beat its benchmark index in 2019 and increased property portfolio value by 9.7%. In a market update, the group said total shareholder return (with dividends reinvested) during the year was 32.5%, ahead of the FTSE EPRA NAREIT UK Index that was at 30.6%. The group paid dividends of 8.20p in the year, a […]
SEGRO’s chief investment officer has stepped down from the board and will leave the business in April 2020. Phil Redding, who has been at the group for 24 years and on the board since 2013, had been an instrumental part in SEGRO’s portfolio re-positioning exercise which saw the group sell, acquire or develop more than £8bn […]
NewRiver REIT has continued its strategy of recycling capital into high yielding property with £162.9m transacted so far in FY20, it announced in a trading update. The update for the quarter ending 31 December 2019 revealed it had sold £70.3m worth of assets at a blended yield of 4.9% and acquired £92.6m worth of property […]
Town Centre Securities (TCS), the property investor, developer and car park operator, has updated the market on its performance in the half-year ended 31 December 2019 ahead of its half-year results. Overview TCS is continuing to reposition its portfolio away from retail, investing in its estate through asset management and delivering and improving its development […]
Embattled shopping centre owner Intu is planning to raise as much as £1bn in fresh equity next month in a bid to shore up its balance sheet. In an announcement responding to a Sunday Times article, the company this morning said it was targeting an equity raise alongside its full year results at the end […]
