Hammerson has agreed a deal to sell a retail park in Scotland for £67m as it continues its disposal programme to reduce debt. The sale of Abbotsinch Retail Park, in Paisley, means it has now exceeded its minimum disposal target of £500m in the year. Following the sale of a major stake in its Italie Deux shopping centre […]
Tritax EuroBox has acquired two prime logistics facilities in Bremen, Germany for €60.3m, reflecting a net initial yield of 4.8%. The company said the assets are “highly reversionary” against current market rents in the area. Purpose-built in 2013 and 2019 respectively, the two facilities have a combined gross internal area of 57,537 sq m, eaves […]
Stenprop has acquired 100 industrial units in five separate transactions for an aggregate price of £16.7m, as it continues its portfolio transformation into fully focused multi-let industrial (MLI). The biggest estate in the portfolio bought by Stenprop is the Hillfoot Industrial Estate in Sheffield. It paid £10.2m for the 81-unit scheme, reflecting a net initial yield of 6%. The total […]
UK Commercial Property REIT reported a net asset value total return of 1.9% for the first six months of the year. The company, which is managed and advised by Aberdeen Standard Investments, saw a increase in EPRA earnings per share of 19% to 1.7p compared with the same period last year. It put the rise down […]
WeWork shelves IPO plan – WeWork has postponed its multi-billion IPO after failing to attract enough support from investors. The US co-working giant is now planning to complete its float by the end of this year. The move follows a call last week from its largest investor Softbank to shelve the listing. WeWork had aimed to […]
Picton updates on portfolio activity – Picton has completed 20 asset management initiatives since its June net asset value (NAV) update. Progress has been made across all sectors including lettings, lease renewals, regears and rent reviews. These have a combined annual rent of £2.4m and were agreed on average 4% ahead of the June 2019 […]
Supermarket Income REIT to raise £50m to grow portfolio – Supermarket Income REIT has announced its intention to raise £50m through a share placing and offer to fund new acquisitions. It has set the issue price at 102 pence per new ordinary share, a discount of 5.1% to the closing price of 107.5 pence per existing ordinary share […]
Phoenix Spree Deutschland agrees new €240m loan facility – Phoenix Spree Deutschland, the UK listed investment company specialising in Berlin residential real estate, has completed a new €240m loan facility. The new facility was agreed with Natixis Pfandbriefbank AGand comprises of two tranches, one being for €190m and the other for €50m. The refinancing follows a […]
Workspace Group makes double London sale – Workspace Group has sold two London offices for a combined total of £34.75m. It has exchanged contracts to sell Vestry Street Studios, in Shoreditch, and Alexandra House, in Wood Green, at a 20% premium to the 31 March 2019 valuations. Vestry Street Studios, near Old Street, is a […]
NewRiver and Pimco JV buys retail park for £44.7m – NewRiver REIT has acquired a retail park in Poole, Dorset, for its new joint venture with Pimco. The JV, with Pimco’s BRAVO Strategies III fund, has exchanged contracts to buy the Poole Retail Park from LS Poole Retail for £44.7m, reflecting a net initial yield […]
