Hammerson’s ongoing repositioning efforts have seen losses dramatically fall in full year results to the end of December 2021. The retail group said IFRS loss for the year was £429m against £1,735m the previous year. The loss was largely due to a £470m portfolio valuation fall. The group’s portfolio is now worth £5.4bn, down 7.9%. […]
Tritax Big Box REIT’s development programme turbo-charged returns for the year to 31 December 2021. The group posted impressive gains in earnings, portfolio valuation uplifts and profit in the year. NAV total return for the year was a whopping 30.5%. Adjusted earnings per share was up 14.8% to 8.23p, while the group upped its dividend […]
Workspace Group, the London flexible office provider, has agreed a deal to acquire McKay Securities, the listed property owner focused on offices and industrial in the South East, for £272m. Under the terms of the acquisition, each McKay shareholder will be entitled to receive 209 pence per share in cash and 0.115 new Workspace shares. […]
The logistics property sector can be a safe haven for investors in the face of the uncertainty caused by the war in Ukraine. That was the assessment made by an expert panel at the first leg of QuotedData’s Round the World webinar series focused on Europe. Russia’s invasion of Ukraine has seen heightened market volatility […]
Capital & Counties, the Covent Garden landlord, has reported an uptick in leasing momentum after a difficult two years during the pandemic. In full year results to the end of December 2021, the group said strong leasing progress in the second half of the year resulted in a like-for-like increase in the value of its […]
Tritax EuroBox has acquired a pre-let logistics development in Roosendaal, the Netherlands, for €144.26m. The asset is pre-let to a “top four global discount supermarket retail group” and was purchased from Logistics Capital Partners (LCP), one of the company’s main development and asset management partners. The purchase price reflects a net initial yield of 3.5%. […]
Empiric Student Property has acquired a new 92-bed purpose-built studio asset in Bristol city centre for £19.0m, reflecting a net initial yield of 4.75%. The property, which was completed in September 2021, has 100% of the beds let for the current academic year. Empiric has two other operational assets in Bristol (159 beds), with a […]
Circle Property has said it plans to sell more assets and return capital to shareholders after selling its largest asset today, as it battles a persistently wide discount to net asset value (NAV). The group has sold Kents Hill Park to LXI REIT for £34.5m. The group said that following completion of the disposal, which […]
LXi REIT has made nine acquisitions for £87m as it continues to deploy the proceeds from its recent £250m equity capital raise. The acquisitions, which have been transacted predominantly on an off-market basis with seven different vendors/developers, reflect a 5.1% net initial yield. The assets: Co-op Group convenience stores The company has acquired three convenience […]
In a lettings update, central London office owner and developer Great Portland Estates has announced it has broken its leasing record for the financial year to March 2022 – with almost two months to go. The group said that it had signed 460,900 sq ft of new lettings since the start of the financial year […]
