Workspace Group, flexible office space provider, has acquired The Busworks, in Islington, for a total of £45m. The off-market acquisition is being funded from existing facilities. A former Victorian bus factory, the property provides 104,000 sq ft of net lettable space across two conjoined warehouse buildings on 1.6 acres. It is currently operated as a […]
Life Science REIT successfully raised gross proceeds of £350m from its initial public offering (IPO). The company said it received applications exceeding the £350m maximum size of the issue, so a scaling-back exercise has been undertaken. A total of 350m ordinary shares will be admitted to trading on the Alternative Investment Market (AIM) of the […]
North American real estate investment trust (REIT) Slate Office REIT has agreed a deal to buy London-listed Irish office investor Yew Grove REIT for a consideration of €177.4m. The deal would see Slate acquire the entire issued and to be issued share capital of Yew Grove at a price of €1.017 per share. The cash […]
LondonMetric Property has acquired two logistics warehouses for £135.6m in separate transactions, reflecting a blended net initial yield of 4.2% and a reversionary yield of 4.8%. The properties generate a rent of £6.0m a year with 100% of the income benefiting from RPI linked rent reviews and have a WAULT of 22 years. The first […]
Urban Logistics REIT has announced an Initial Placing, Offer for Subscription and Intermediaries Offer targeting gross proceeds of £200m at a price of 170 pence per share. Having fully deployed or committed £134m of capital following the company’s £108m July fundraising, the manager has identified a further pipeline of high quality, last mile logistics assets, […]
Tritax EuroBox has agreed a deal to fund the development of an €117.9m logistics asset in the Rhine-Ruhr region in Germany. The development, in Bönen, will comprise 66,065 sqm of space and is pre-let to the Rhenus Warehousing Solutions SE & Co KG, one of the leading global logistics service providers, on a 15-year lease. […]
Urban Logistics REIT has posted a 7.9% increase in EPRA net tangible assets (NTA) in interim results, boosted by strong demand for last mile logistics facilities. In the six months to September 2021, the group’s EPRA NTA leapt from 152.33p to 164.30p per share. This was mainly due to portfolio like-for-like valuation growth of 11.3% […]
Home REIT has posted a 7.2% increase in NAV in its maiden annual results. The NAV and EPRA net tangible asset (NTA) per share increased to 105.0p at 31 August 2021, an increase of 7.2% from the 98.0p (after share issue expenses) at the time of the company’s IPO in October 2020, reflecting the discount […]
Civitas Social Housing’s net asset value (NAV) has nudged up slightly in the quarter to 30 September 2021. The group reported an IFRS NAV of 108.49p (up from 108.42p on 30 June 2021). New investments have been limited to just one in the quarter, mainly due to an attack on the company by an activist […]
Sirius Real Estate, the German business park owner, has announced a proposed capital raise of £135m to part fund the acquisition of UK flexible workspace provider BizSpace for £245m. Sirius said it believes the acquisition of BizSpace “represents a highly attractive and strategically important opportunity that allows Sirius to enter, at scale, an under-served wider […]
