Schroder REIT has proposed amendments to its investment objective and policy, and to its investment management agreement, to include sustainability at the centre of its investment proposition. The sustainability improvement and decarbonisation strategy will focus on adapting existing buildings in its portfolio into those that are both modern and fit for purpose, that it says […]
Sirius Real Estate raised £146.6m in a placing. The company said the net proceeds enable it to execute on a significant near term pipeline of attractive acquisition opportunities. The capital raise comprises the issue of 170,417,384 new ordinary shares, which represent around 14.5% of the share capital of the company prior to the raise. The […]
UK Commercial Property REIT (UKCM) has terminated discussions with Picton Property over a possible merger of the companies. It was announced on 8 November that discussions between the two parties over an all-share merger on a NAV by NAV basis had commenced after Picton approached UKCM. Today, UKCM said that its largest shareholder – Phoenix […]
Sirius Real Estate (SRE) is looking to raise £145m in a placing. This will enable the company to acquire a near-term pipeline of opportunities, following the recent acquisition of assets in Liverpool, Barnsley and three in North London, for a total of £45m. The capital raise will comprise an institutional placing that will be made available […]
The real estate sector got a boost from the lower-than-expected UK inflation figure that was released on Wednesday, which followed a similarly positive update on inflation in the US. The share prices of the London listed property stocks that we track (67 companies in total) were up 2.6% this week on average. November has been […]
UK Commercial Property REIT (UKCM) has announced that it is in discussions with Picton Property Income (PCTN) in relation to a possible all-share merger. PCTN’s board has made the proposal to UKCM, with the merger discussions centring on an EPRA net tangible asset (NTA) for EPRA NTA basis. PCTN said the possible combined company would […]
Sirius Real Estate has continued its asset recycling programme with the sale of an industrial park in Maintal, in Germany’s southwest Hesse region, for €40.1m and acquisition of a portfolio of three business parks in North London for £33.5m. The disposal price in Germany was at a net initial yield of 5.7% and was achieved at […]
LondonMetric Property as sold four offices and two long income assets in separate transactions, for a total of £24.5m. Four non-core assets have been sold from the recently acquired CT Property Trust (CTPT) portfolio for £15.3m, comprising three regional offices and a car showroom in Newbury. The buildings have a WAULT of six years and […]
Grit Real Estate Income Group’s annual results were impacted by the high interest rate environment and the transitional period for the company, which saw it acquire developer Gateway Real Estate Africa (GREA). The group’s EPRA net reinstatement value (NRV) fell 8.3% US$72.8 cents per share over the year to 30 June 2023, driven by a […]
abrdn Property Income Trust (API) has secured over £1.3m in annual rent through new lettings and lease renewals. In the office sector (which accounts for 18% of its portfolio by value), the company has completed a number of deals comprising: a new lease on the fourth floor at One Station Square in Bracknell, securing a […]
