In QuotedData’s morning briefing 12 May 2023: Tritax EuroBox (EBOX) has agreed a new 10-year green lease to a leading logistics company at its recently completed property in Dormagen, a prime logistics location in the Düsseldorf region of Germany. The 36,000 sqm letting was 17.8% ahead of the rental guarantee that EBOX was receiving from […]
Bluestar Group, which has bid for Home REIT, has launched a scathing attack on the board of the embattled homeless accommodation provider accusing it of effectively ignoring it or ‘ghosting’ it. The group complained that the board had not been in contact in weeks, despite offering 40p per share to buy the company on 14 […]
In QuotedData’s morning briefing 10 May 2023: UK Commercial Property REIT (UKCM) posted a 1.1% uplift in NAV to 80.6p for the quarter to 31 March 2023. With dividends of 0.85p, the group’s NAV total return for the quarter was 2.2%. Valuations within its portfolio grew slightly by 0.9% to £1.32bn, further evidence of value […]
Civitas Social Housing (CSH) has agreed the terms of a sale of the company to Wellness Unity Limited for £485m. Although the bid price, of 80p per share, is a 44.4% premium to the closing price of 55.4 pence on Friday (5 May 2023), we believe this is too low. The company’s unaudited NAV at […]
abrdn European Logistics Income (ASLI) has completed the sale of a 32,645 sqm warehouse, in Leon, Northern Spain, to SCPI Iroko Zen, for €18.5m. The disposal price reflects a 3% premium to the 31 December 2022 valuation. ASLI acquired the asset in 2018 for €15.3m with the sale reflecting a crystalised 20% gross profit. Located […]
Palace Capital has exchanged contracts for the sale of six industrial properties for £34.0m, as it continues to sell down its assets. The sale of the portfolio, to Clearbell Property Partners IV LLP (Clearbell), a fund managed by Clearbell Capital LLP, reflects a net initial yield (NIY) of 6.2% and is another indication of valuation […]
In QuotedData’s morning briefing 5 May 2023: Ediston Property Investment Company (EPIC) has posted a slight increase in the value of its property portfolio in the quarter to 31 March 2023 of 0.6% to £204.3m. NAV per share was down slightly by 0.6% to 80.44 pence (31 December 2022: 80.93 pence). NAV total return (including […]
Great Portland Estates has acquired two central London offices for redevelopment for a total of £53m. It has bought 141 Wardour Street, in Soho, for £39m (£1,156 per sq ft). The 33,717 sq ft building is currently vacant, has been stripped out and benefits from planning consent for a comprehensive refurbishment. The building is located […]
In QuotedData’s morning briefing 28 April 2023: Industrials REIT (MLI), which has agreed a £500m sale of the company, released a trading update for the first quarter of 2023 showing a 4.8% like-for-like growth in passing rents and 10.6% growth in estimated rental values (ERV) over the 12 month period. During the quarter it concluded […]
In a NAV update for the first quarter of the year, CT Property Trust posted a 1.3% uplift to 96.6p per share – further evidence of a stability of real estate prices following a rapid decline in the second half of 2022. Last week MSCI data showed that month-on-month property values in the UK were […]
