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 […]
abrdn Property Income Trust expects commercial real estate returns to turn positive this year, after a difficult 2022. The company today reported a -12.8% NAV total return for the year to 31 December 2022, having been impacted by a rapid revaluation of assets due to higher interest rates and increased cost of its own debt. […]
abrdn European Logistics Income saw its EPRA net tangible assets (NTA) reduce 8.1% to €1.25 per share in the year to 31 December 2022, due to the market-wide outward yield movements as a result of rising interest rates. The group’s portfolio value fell 4% on a like-for-like basis, but increased 14% to €759m (31 December […]
Total returns for UK real estate were positive in March, data from MSCI showed, the first positive return since June last year. The month-on-month total return in March was 0.67% (a 0.46% income return from rental income and a 0.21% capital return). Average values rose during the month after eight straight months of declines. “The rebound […]
Picton Property (PCTN) is exploring converting some of its office assets into “higher value alternative uses”, as market conditions in the office sector continue to be tricky. The company has used permitted development rights to secure residential use at its part vacant Angel Gate office in London, EC1. Consent has also been secured across seven […]
Balanced Commercial Property Trust has posted annual results for 2022 and, in line with the property sector, saw the valuation of its portfolio hit in the second half of the year due to higher interest rates. Highlights include: A net asset value (NAV) total return of -9.2% NAV per share as at 31 December 2022 […]
Industrials REIT has agreed terms on a £511m cash offer for the company by US private equity giant Blackstone. Under the offer, each shareholder would receive 168p per share, which represents a premium of 42.4% to the closing price on 31 March 2023 (the last day before the initial announcement about a possible bid was […]
“One of the greatest wealth transfers from shareholders to managers in listed history.” That was the assessment of Sean Hurst, incoming chairman of Dolphin Capital Investors – the small-cap high-end resort developer focused on eastern Mediterranean. The board is tasked with overseeing the sell-off of the company’s remaining assets and returning as much money as […]
UK Commercial Property REIT has secured new leases across three assets at a combined weighted premium of 40% to previous passing rent, reflecting the strength of occupier demand in the industrial and retail warehouse sectors. Webcon, a supplier of car parts, has agreed a five-year lease renewal for the 10,000 sq ft Unit 1 at […]
