Shaftesbury, which owns a 16.4-acre portfolio in the heart of London’s West End, has reported results for the year ended 30 September 2022 that show all performance metrics have returned to pre-COVID levels. It said that the West End economy had seen a “rapid rebound” in activity, with footfall and spending ahead of 2019 levels. […]
Home REIT has delayed the release of its full year results as it undergoes an enhanced audit following a short-seller attack. The company had been due to announce results for the period to 31 August 2022 this morning, but it says that in the wake of the allegations made by short-seller Viceroy Research last week […]
Discounts to net asset value (NAV) in the property sector have been pretty eye-watering over the last few weeks as the market tries to price in an appropriate level of asset value deterioration in this high interest rate environment. Some have been singled out more than others. Take the AIC’s Property – UK Commercial sector […]
Home REIT has said that a report by a short-seller attacking the company is “inaccurate and misleading” and “based on mistaken assumptions, misinformed comments, and disputable allegations”. Viceroy Research alleged that many of the tenants Home REIT works with to provide accommodation for homeless people “cannot afford rent, have not been paying rent, are in […]
Great Portland Estates has secured its largest ever letting – the 321,100 sq ft pre-let of its office development, 2 Aldermanbury Square, EC2, to international law firm Clifford Chance LLP. Clifford Chance has entered an agreement to lease the lower ground to twelfth floors, on separate 20-year leases, with options to break at year 15 […]
They say a week is a long time in politics, try a day. Wednesday was a breathtakingly embarrassing day for the government, with the calamitous Liz Truss finally falling on her sword of uncosted tax cuts on Thursday. This will mean that the UK will have its third prime minister in less than two months […]
Grit Real Estate Income Group, the pan-African real estate investor and developer, has secured new $306m borrowing facilities, as it streamlines its debt structure. The sustainability-linked term loan and revolving credit facility (which is the largest real estate sector transaction to date in Sub-Saharan Africa, excluding South Africa) consolidates seven existing loans into a single facility. […]
CT Property Trust (formerly BMO Real Estate Investments) has posted a 34.3% NAV total return in annual results to 30 June 2022. The group’s NAV jumped 30.1% in the year to 132.8p per share, while it paid dividends of 4p per share. The dividend was fully covered by earnings by 106.5%. The company’s share price […]
Care home owner Target Healthcare REIT reported a 8.1% NAV total return for the year ended 30 June 2022. Result highlights include: EPRA NTA per share increased 1.7% to 112.3 pence (2021: 110.4 pence) Group specific adjusted EPRA earnings per share fell 7.5% to 5.05p (2021: 5.46p), mainly due to the time lag between a […]
PRS REIT has posted a sharp increase in net asset value (NAV) for the year to 30 June 2022, off the back of strong estimated rental growth across its residential portfolio. The group’s NAV was up 30% year-on-year to £639m or 116.4p per share (2021: £490m or 99.0p per share). Like-for-like blended rental growth over […]
