The start of a new year often brings optimism and that was certainly the case in the real estate sector as inflation around the world continued its downward trajectory, raising the prospect of interest rate cuts this year. That optimism, which had seen share prices among the UK listed property companies jump 15.5% over the […]
The boards of Custodian Property Income REIT (CREI) and abrdn Property Income Trust (API) have agreed to a merger of the two companies. CREI will acquire the entire issued and to be issued share capital of API, with each API share receiving 0.78 new CREI shares The exchange ratio is based on the unaudited EPRA Net […]
The chairman of scandal-hit Home REIT, Lynne Fennah, has been replaced by Big Yellow Group director Michael O’Donnell. Fennah will remain on the board as a non-executive director for “continuity”. The remaining directors of Home REIT’s board will all step down when the company publishes its financial results (still no date for this). Fennah and […]
Balanced Commercial Property Trust has agreed the sale of three office holdings in a strategic move to reduce its office exposure. The sale comprises two regional out-of-town business park holdings in Edinburgh and Aberdeen and a multi-let asset in London’s West End. The sales have been agreed at an aggregate sale price of £42.8m, representing […]
Tritax EuroBox has let the first phase of its two-unit development in Rosersberg, a prime logistics location near Stockholm. The 5,007 sqm letting reduces the company’s portfolio vacancy rate to 4.3%. A new five-year lease has been signed with a leading Scandinavian photovoltaic (PV) company at a rent that is 3% above the estimated rental […]
A new valuation report on Home REIT’s portfolio has revealed a 57.7% reduction to the price it paid for them of £977.0m. The report conducted by JLL, which was appointed by Home’s new manager AEW, valued the portfolio at £412.9m at 31 August 2023. The majority of the properties have been valued on a vacant […]
LondonMetric Property is in talks with LXi REIT over the possible merger of the two companies. The boards of the two companies are in discussions over the deal that would see LondonMetric acquire the entire issued share capital of LXi. A merger would create a combined company with assets worth £6.4bn and a market capitalisation […]
In QuotedData’s morning briefing 19 December 2023: Alternative Income REIT (AIRE) has completed the acquisition of a Virgin Active leisure club in Streatham, in South-West London for £5.1m. The price reflects a net initial yield of 9.8% and a discount to replacement cost. The acquisition of the asset redeploys the majority of the net proceeds […]
abrdn Property Income Trust (API) has captured strong rental growth within its portfolio with three rent reviews in its industrial portfolio. In Bristol, a rent review at Kings Business Park was agreed at £96,350 per annum, reflecting a 38.6% uplift to the previously passing rent. This was in line with the September 2023 valuation, but […]
Schroder European REIT (SERE) reported a 8.9% fall in net asset value (NAV) to 128.2 euro cents per share in annual results to 30 September 2023, reflecting the impact that challenging economic and geo-political risks have had on asset valuations. The group’s portfolio of European real estate declined in value by 8.5% to €214.1m, reflecting […]
