Harworth Group has sold a parcel of land near Leeds to Microsoft for £106.6m for the development of a hyperscale data centre. The 48 acres of land at Harworth’s Skelton Grange site will be sold in two phases. The first plot, which comprises 27 acres, will be sold for £52.9m with completion expected in the […]
Warehouse REIT has announced the acquisition of a retail park for £38.6m, and also reported an uplift in NAV in annual results. The company, which specialises in multi-let warehousing, has ventured away from its core investment strategy with the purchase of phase 2 of Ventura Retail Park, a 13-unit scheme in Tamworth, close to Birmingham. […]
Warehouse REIT has completed the sale of £57.5m of single-let assets in three separate transactions. The combined sales price is in line with the 31 March 2024 valuation and represents a net yield on passing rent of 5.8%. The sales bring total proceeds raised since the company announced its deleveraging plan in November 2022 to […]
NewRiver REIT’s annual results show that its turnaround strategy is paying off and the retail property market is returning to growth. The company reported a 5.0% drop in EPRA net tangible assets (NTA) to 115p in the year to 31 March 2024, which was mainly due to a modest decline in portfolio valuation of 2.3% […]
In QuotedData’s morning briefing 21 June 2024: Home REIT (HOME) has sold a further 133 properties at auction, this time for £11.36m in total. These were 7.8% below the draft August 2023 valuations. Since August 2023, the company has completed on the sale of 774 properties and exchanged on a further 205 properties, for gross […]
Urban Logistics REIT reported a slight drop in EPRA net tangible assets (NTA) of 1.3% to 160.27p in annual results to 31 March 2024. The value of the company’s portfolio of mid-box urban logistics assets was stable over the 12 months falling just 0.3% on a like-for-like basis to £1.1bn. Net rental income was up […]
In QuotedData’s morning briefing 19 June 2024: Schroder European REIT (SERE) posted a 3.6% fall in NAV to 123.6 euro cents per share in the six months to 31 March 2024. The group’s property portfolio valuation declined 3.1% to €208.1m. Underlying EPRA earnings increased 3% to €4.3m on the prior six month’s EPRA earnings of […]
Home REIT will look to sell more of its portfolio after failing to secure refinancing of its debt. The company said that extensive discussions with a potential lender to refinance its debt facility with Scottish Widows (currently £131.8m) have fallen through. It said: “The board has now concluded that it will not be able to […]
Custodian Property Income REIT said that property valuations had stabilised in its portfolio in the final quarter of its financial year to 31 March 2024. Its portfolio fell in value by 4.0% on a like-for-like basis across the year to £589.1m but was flat in the first three months of 2024, which it said suggests […]
In QuotedData’s morning briefing 12 June 2024: Special Opportunities REIT (SOR) has pulled its proposed IPO after falling short of its target fundraise. The company had targeted a £500m raise to acquire commercial property at distressed prices. It had lined up three cornerstone investors for up to £114m, but still fell short of its minimum […]
