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 […]
Warehouse REIT has provided a trading update for the period since 1 October 2019 during which it has completed 24 new lettings and 20 lease renewals 6.4% ahead of estimated rental value (ERV). The group has also increased its dividend for the quarter and its target for the year from 6p to 6.2p per share. […]
Target Healthcare, the care home investor, has completed the acquisition of a new development site in Cheshire for £9.7m as it continues to deploy the proceeds from its recent oversubscribed capital raise. The group has also completed the acquisition of three other schemes, located in Yorkshire and Wales, and the construction of a care home […]
AEW UK REIT posted a marginal fall in its net asset value (NAV) for the three months to the end of December 2019 The company, which owns a diversified portfolio of 35 regional UK commercial property assets, reported NAV of 97.24p per share for the quarter, a decrease of 0.1% on September’s NAV of 97.36p per share. The […]
Workspace Group reported an increase in enquiries and lettings for the fourth quarter of 2019 despite the increased political uncertainty leading up to the general election. The company had 1,001 enquiries per month in the three months to the end of December (up from 907 in 2018) and made 113 lettings per month (2018: 98) […]
London property developer Helical has let the final floor of The Tower office scheme, near Old Street, taking the building to 100% let. Brilliant Basics, an Infosys Company and existing occupier, has taken the 11,331 sq ft 15th floor on a five-year lease, taking its total footprint to 40,479 sq ft across four floors as […]
The PRS REIT has provided an update for the three months to the end of December 2019 during which it completed 256 new rental homes bringing its total portfolio to 1,617 homes. The new homes will contribute £2.6m per year to the company’s rental income, increasing its annualised rental income to £14.9m. The group said demand […]
