Aberdeen Standard European Logistics Income (ASLI) has signed an agreement to acquire a logistics warehouse in the Netherlands for €49.9m. The group has bought a 43,000 sq m facility in Den Hoorn at a net initial yield of 4.5%. The transaction is expected to close in January 2020. The newly built facility, which is located within the Randstad […]
Custodian REIT saw total return fall to 0.5% for the six months to 30 September 2019 as turmoil in the retail market dragged on its results. Net asset value (NAV) per share total return of 0.5% for the period, was down from 4.3% at the same point last year. Share price total return was 8.7% […]
SEGRO has exchanged contracts to sell a portfolio of UK big box warehouses for £241m, in line with book value. The company said it would recycle the capital into its existing and future development programme. The portfolio, which comprises seven assets, has generated a blended ungeared IRR of approximately 11% since SEGRO acquired them. Morgan Stanley Real […]
Capital & Counties has converted to a UK REIT following the sale of its interests in Earls Court. Under the REIT regime, the group will no longer pay UK direct tax on profits and gains from qualifying rental business. Following the sale of Earls Court for £425m, the company has positioned itself as a prime […]
Ediston Property Investment Company, the real estate investment trust, has reported a fall in net asset value (NAV) of 5.7% in full year results. The drop was largely due to a 3.5% fall in the value of its property portfolio, which now stands at £319.2m, and its exposure to the retail sector. All of its […]
Primary Health Properties (PHP), one of the UK’s leading investors in healthcare facilities, will provide development funding for the construction of a purpose built medical centre in Eastbourne, East Sussex for a total cost of £8.4m. The facility, which will be wholly owned by PHP upon its completion, will be used by two merged GP practices […]
Urban & Civic saw its EPRA net asset value (NAV) jump 9.6% in full year results after successfully progressing residential sites through the planning system. EPRA NAV rose from £481.2m a year ago to £527.5m with the revaluation of its Waterbeach site, where the company gained outline consent for 6,500 homes earlier this year, contributing £24.6m […]
St Modwen has sold a chunk of its non-core retail portfolio for a total of £34m, as it continues to shift its focus to the industrial sector. The sales, in Doncaster, Crosby and Kirkby, were sold at a discount of 9% compared to the May 2019 book value of the three assets. The disposals follow […]
LondonMetric has reported a 16.6% uplift in net rental income to £54.9m in half year results following the acquisition of A&J Mucklow in the period. The company, which saw net asset value (NAV) remain flat at 174.9p per share, said the acquisition has significantly increased its portfolio weighting to the urban logistics sub-sector that has […]
Palace Capital, which owns a diverse portfolio of property in the UK regions, has reported a drop in net asset value (NAV) per share of 3.9% during the six months to the end of September. NAV per share fell to 391p during the period, compared to 407p at the end of March, while profit after […]
