Capital & Counties has exchanged contracts for the sale of its interests in Earls Court, excluding Lillie Square, to APG and Delancey for £425m. The price is significantly short of the balance sheet value at 30 June 2019 of £508m. Payments will be made to Capital & Counties on a phased basis, with 45% payable […]
McKay Securities, the London and South East focused REIT, has reported a 20.8% jump in gross rental income to £12.61m in half-year results. The company said the increase was due to several lettings secured on development projects. It contributed to a rise in EPRA net asset value (NAV) in the six months to the end […]
Central London office developer Great Portland Estates announced earnings per share growth of 17.8% to 10.6p in strong half-year results. The company also revealed net asset value (NAV) growth of 1.8% to 868p per share, for the six months to the end of September. It posted portfolio valuation growth of 0.8%, rental growth of 1.0% (+1.4% offices, […]
Regional REIT announced it has grown its annual rental income by £2.2m so far this year through new leasing deals, during a third quarter trading update. The company, which is focused on building a diverse portfolio of income producing regional UK core and core plus office and industrial property assets, exchanged on 50 leases to new […]
Safestore, the self-storage specialist that has a portfolio in the UK and Paris, reported a 5.5% increase in revenues in a fourth quarter trading update. The company’s revenues for the full year to the end of October increased to £151.8m, from £143.9m last year. Occupancy across its portfolio, which comprises 122 sites in the UK […]
Urban Logistics REIT has announced an increase in net asset value (NAV) of 12.4% to 145.2p in interim results today, reaffirming the strength of the industrial sector. The specialist logistics REIT posted a 31.3% jump in net rental income to £5.8m in the six months to the end of September, while EPRA earnings per share […]
CLS Holdings has exchanged contracts to buy an office in Harrow, north-west London, for £13.8m. It has acquired One Six Six on College Road, which comprises 34,655 sq ft of space and is currently multi-let to eight tenants with a weighted average unexpired lease term (WAULT) of 4.8 years to breaks and 7.9 years to expiries. The […]
Property giant British Land suffered a 5.4% fall in net asset value (NAV) while losses plunged further as the woes of the retail sector impacted on the group’s half-year results. The group’s NAV for the six months to the end of September fell to 856p, while its pre-tax losses jumped from £48m last year to […]
Demand for serviced office space in London remains buoyant as Workspace Group reports strong half-year results that has seen its net asset value (NAV) increased by 2.7% to £11.15 per share. The flexible office space provider has reported net rental income up 11% in the six months to 30 September 2019 to £60.1m, while its […]
Land Securities reported a £147m loss in half-year results to the end of September as the group’s retail portfolio continued to lose value following a raft of insolvencies and retailer collapses. The group posted a 3.2% fall in net asset value (NAV) per share to 1,298p from 1,341p as its portfolio lost £368m in value to […]
