Student accommodation specialist Unite Group has tabled an offer for its smaller peer Empiric Student Property. Following media speculation, the board of Empiric confirmed that it received a non-binding proposal from Unite on 7 May and following a period of engagement received a revised offer on 29 May. That offer comprises 30p in cash and […]
Unite Students has sold a portfolio of nine student accommodation properties, comprising 3,656 beds, for £212m (Unite share: £140m) to an affiliate of Lone Star Funds. The disposal is part of the group’s strategy to increase alignment to high and mid-ranked universities and properties with the strongest prospects for sustainable long-term rental growth. The disposal […]
Workspace has outlined plans to boost demand for its flexible offices after reporting a decline in valuations across its portfolio in annual results to 31 March 2025. A disappointing year for the company saw the value of its portfolio fall 2.4% to £2,368m (-1.6% on a like-for-like basis). ERV was up just 1.0%, not enough […]
Warehouse REIT and Blackstone have agreed the terms of a recommended cash acquisition of Warehouse by the US private equity giant. Under the deal, shareholders would get 110.6p per share, including the 1.6p dividend paid in April. Blackstone had previously submitted a cash proposal of 115p per share in March, but following due diligence raised […]
NewRiver REIT has reported a 25% bump in income in annual results following the acquisition of Capital & Regional’s portfolio. The retail landlord said underlying funds from operations (UFFO) were £30.5m (8.1p per share) compared to £24.4m in 2024. The acquisition of Capital & Regional in December 2024 (for £151m) saw UFFO in the second […]
Picton Property delivered strong income and valuation growth in annual results, with NAV up 4.2% to 100p per share and EPRA earnings up 5% to 4.2p. The company’s portfolio increased in value by 3.8% on a like-for-like basis to £723m, while contracted rent was up 3.0% over the year to 31 March 2025. Income growth […]
British Land expects its development pipeline to be the catalyst for growth over the next few years as a pinch in real estate supply takes effect. In annual results released today, the company said its central London office campus portfolio, which includes Broadgate in the City, was at an inflection point with valuations in the […]
Hammerson has increased its ownership of north London shopping centre Brent Cross, with a £186m acquisition of abrdn UK Shopping Centre Trust (SCUT) stake. It has bought 95% of the units in SCUT, which holds the 59% of Brent Cross not already held by Hammerson, at a 16% discount to book value as at 31 […]
Two London offices developers announced annual results today that reflect a changing in fortunes for the much-maligned sector. Great Portland Estates (GPE) posted a 3.6% uplift in the value of its portfolio to £2.9bn, with the offices portion up 4.3%. This contributed to a 4.4% increase in EPRA net tangible assets (NTA) to 494p over […]
Merger and acquisition (M&A) activity has boosted rents, earnings and dividend growth at LondonMetric, as it delivers an impressive set of annual results. Net rental income increased 123% to £390.6m in the 12 months to 31 March 2025, with EPRA earnings up 120% to £268.0m (up 20.7% on a per share basis to 13.1p), following […]
