Amazon’s gloomy earnings call last week has taken the wind out of the sails of some of the biggest listed property companies focused on logistics. The profit warning and caution on online sales growth saw 12.7% and 12.6% wiped off SEGRO’s and Tritax Big Box REIT’s market cap in a week (Thursday 28 April to […]
Standard Life Investments Property Income Trust delivered a NAV total return for 2021 of 28.6%, outperforming the AIC UK Property – Commercial peer group average of 17% and the open-ended commercial property funds sector of 9.6%. As valuations recovered over the course of 2021, from the depths of the pandemic, the group’s NAV increased 23.2% […]
Urban Logistics REIT has bought a further £45m of assets as it continues to deploy the funds of its December 2021 fundraise. The company has acquired the East Midlands Logistics Hub for £40.7m at a net inital yield of 6.8%. The property consists of a 72-acre site with four logistics units totalling more than 670,000 […]
British Land has agreed a deal to sell a 75% stake in its Paddington Central assets to GIC for £694m. The transaction establishes a new joint venture with ownership split 75:25 for GIC and British Land respectively. The price paid is 1% below September 2021 book value and represents a net initial yield of 4.5%. […]
abrdn European Logistics Income has reported NAV total return in 2021 of 12.4%, as the European logistics sector continues to benefit from a supply-demand imbalance. The group’s NAV increased 7.5% to €1.29 per share, while it paid out dividends in the year of 5.64 euro cents. IFRS earnings were 15.4 euro cents per share for […]
Warehouse REIT has exchanged contracts to acquire an industrial estate in Milton Keynes for £62m, reflecting a net initial yield of 4%. The multi-let Bradwell Abbey Industrial Estate totals 335,000 sq ft across 69 units and is located just off the A5, and close to the M1 motorway. The estate is currently 96% let to […]
BMO Commercial Property Trust will change its name to Balanced Commercial Property Trust following the sale of its manager’s business from Bank of Montreal (BMO) to Ameriprise Financial, parent company of Columbia Threadneedle. The announcement was made in the group’s annual results where it delivered a net asset value (NAV) total return for 2021 of […]
With everything else going on, it feels like the topic of ‘net-zero’ has been pushed down the agenda. However, with new legislation due to come through on the energy efficiency of commercial property, landlords may be sitting on a ticking time-bomb. The government has set a target of lifting the minimum energy performance certificate (EPC) […]
Supermarket Income REIT has announced its intention to raise £175m through a placing. The issue price of 121p is a discount of 4.3% to last night’s closing price of 126.5p and a 7.1% premium to its last reported EPRA NTA of 113p on 31 December 2021. The company’s investment adviser, Atrato Capital, has identified a near-term […]
Palace Capital said it was set to up its dividend following good performance, but added that it was considering a range of strategic options, including returning capital to shareholders, as it looks to close its discount to net asset value (NAV). The group added an additional £1.9m of annualised net rental income during the year […]
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