In QuotedData’s morning briefing 11 March 2024: Shaftesbury Capital (SHC) has completed the acquisition of 25-31 James Street, Covent Garden, London for £75.1m. The properties have a contracted rent of £3.9m and comprise 21,000 sq ft of lettable area, including 12,000 sq ft of retail and 9,000 sq ft of residential and office accommodation. The company says […]
CLS Holdings, the office landlord with assets across the UK, France and Germany, has reported a sharp fall in EPRA net tangible assets (NTA) in full year results to the end of December 2023, as the office sector continues to struggle with valuation declines. The group’s NTA fell 23.2% to 253.0p from 329.6p at the […]
Tritax Big Box REIT has said improving market conditions has reinforced its conviction for logistics development projects. In annual results for the period to 31 December 2023, the company said that easing inflation, continuing rental growth, and improving yields on cost make its development programme more attractive. It added that it will continue to sell […]
In QuotedData’s morning briefing 1 March 2024: UK Commercial Property REIT (UKCM) has sold its 67,000 sq ft office building in Temple Quay, Bristol, to Tri7, a value-add real estate investment and asset management firm. 2 Rivergate in Temple Quay, Bristol, has been sold for £14.5m, which is in line with the 31 December 2023 […]
Spanish retail REIT Lar España posted strong annual results, as a recovery in retail continues at pace. The company, which owns shopping centres and retail parks across Spain, reported total revenues of €95m in the year to 31 December 2023, an increase of 14% over the €83.6m in 2022. Recurring net profit, excluding the accounting […]
Shaftesbury Capital has reported solid results for the year to 31 December 2023, as leasing activity picked up and valuations declines were muted. The company transacted 526 leasing deals, representing £37.0m of rent, 10.0% ahead of estimated rental value (ERV). Annualised gross income increased 10.4% on a like-for-like basis to £192.8m. The portfolio ERV grew 6.9% […]
Retail property landlord Hammerson reported a record year of leasing, which contributed to an 11% uplift in adjusted earnings in annual results to 31 December 2023. The group completed 306 lettings, which generated £46m of headline rent up 23% on a like-for-like basis. Permanent deals signed were 37% above the previous passing rent and 12% above […]
Primary Health Properties has reported a 4.1% fall in EPRA net tangible assets (NTA) to 108.0p in annual results to 31 December 2023, however, earnings were up 3.0% to 6.8p per share. [QD comment: This value decline, earnings growth dynamic typifies the state of play in the real estate sector and we expect it will be […]
SEGRO has raised £907m in a placing of shares – a real vote of confidence in the real estate behemoth, its growth plans and the logistics sector. The company increased the size of the raise from around £800m to £900m due to demand. It also raised £7m from retail investors via the PrimaryBid platform. I […]
In QuotedData’s morning briefing 28 February 2024: Grit Real Estate Income Group (GR1T) has reported a 6.4% fall in EPRA net reinstatement value (NRV) to $68.1 cents per share in the six months to 31 December 2023. This was predominantly driven by a 2.7% fall in the value of its portfolio. Net operating income increased […]
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