Three members of Palace Capital’s board have today resigned from the company after shareholders revolted against the company’s change in strategy, which was announced earlier this month. Mickola Wilson (Senior Independent Director), Kim Taylor-Smith (Non-Executive Director) and Paula Dillon (Non-Executive Director) have all stepped down from the board with immediate effect, leaving no independent directors […]
Town Centre Securities (TOWN), the property investment, development, car park and hotel operator, has sold its equity investment in YourParkingSpace (YPS) Limited to Flowbird SAS for £20.7m – a huge uplift on the book value of the stake of £1.47m (with an additional £1.53m loan to YPS) on the group’s balance sheet. The YPS platform […]
Impact Healthcare REIT has raised £22.3m in a placing and offer for subscription. The group said the proceeds would be used with existing resources to acquire a pipeline of care home investments. The group is in advanced negotiations to acquire six portfolios, consisting of 27 separate care homes, for a total of £169m. Existing resources […]
Palace Capital will become a purely regional offices investor, focusing on ESG enhancements to create value. The company announced the move following a strategic review by the board as it wrestles with a wide share price discount to net asset value (NAV). The group said that it “intends to have a pure focus as an […]
Supermarket Income REIT has acquired two supermarket assets for a total of £82.9m, reflecting a combined net initial yield of 4.9%. It has purchased a Tesco superstore, M&S Foodhall and an Iceland in Chineham, Basingstoke, and an Asda supermarket in Carcroft, Doncaster. The 18.7 acre Chineham site has been acquired from Tellon Capital and comprises […]
Home REIT has acquired two portfolios of homeless accommodation properties for a total of £92.3m, its first deployment since its £263m equity issue in May 2022. The company has acquired 183 properties located across England for £84.9m, and in a separate transaction bought 33 additional properties for £7.4m. In total, these have added a further […]
Having read the extremely alarming news that there is set to be an exodus of GPs, exacerbating existing shortages, I thought it would be worth looking at the likely impact on the two listed primary healthcare landlords – Assura and Primary Health Properties (PHP). According to reports, one in four GP posts are set to […]
Civitas Social Housing has reported a strong set of annual results for the year to 31 March 2022, posting a NAV total return of 7.0%. The group’s IFRS NAV increased to 110.3p per share (2021: 108.3p) following a 5.8% increase in the value of its portfolio to £968.8m. Dividends of 5.55p per share were paid […]
Urban Logistics REIT doubles size of portfolio in “transformational year” and reports a 23.9% uplift in NAV. The group, which raised £358m of equity, moved to the main market and was included in the FTSE 250 index in the 12 months to 31 March 2022, said its portfolio of mid-box urban warehouses was now valued […]
Care home provider Impact Healthcare REIT has announced its intention to issue new equity to acquire an identified pipeline of care homes. The company proposes raising new equity through a placing under its existing placing programme and in addition an offer for subscription to raise up to the Sterling equivalent of €8m. The size of […]
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