Schroder European REIT posted a NAV total return of 7.3% in the year to 30 September 2022, as shareholders reaped the rewards of exceptional asset management profits achieved from the repositioning of its office in Paris Boulogne-Billancourt. NAV was 140.8 cents per share (down from 149.2 cents) reflecting the payment of the special dividend (totalling […]
Tritax EuroBox has posted a NAV total return of 5.9% for the year to 30 September 2022. The company, which invests in European logistics properties, saw its EPRA net tangible assest (NTA) increase 2.2% to €1.38, due to a 5.6% like-for-like uplift in the value of its portfolio, which is now worth €1,765.6m following acquisitions. […]
AEW UK REIT has acquired two properties for a combined £18.3m. It has unconditionally exchanged on the purchase of a 67,020 sq ft mixed-use block located in Bath city centre at a price of £13m, reflecting a net initial yield of 8.5%. It expects to complete the deal next week. In a separate transaction, the company […]
Home REIT has responded to short seller allegations last week that saw its share price fall more than 20%. The company said it was “completely confident in the integrity of the business it is operating, its financial soundness and the beneficial impact the Company is having in reducing homelessness in the UK”. Allegation 1 In […]
Shaftesbury, which owns a 16.4-acre portfolio in the heart of London’s West End, has reported results for the year ended 30 September 2022 that show all performance metrics have returned to pre-COVID levels. It said that the West End economy had seen a “rapid rebound” in activity, with footfall and spending ahead of 2019 levels. […]
Home REIT has delayed the release of its full year results as it undergoes an enhanced audit following a short-seller attack. The company had been due to announce results for the period to 31 August 2022 this morning, but it says that in the wake of the allegations made by short-seller Viceroy Research last week […]
Discounts to net asset value (NAV) in the property sector have been pretty eye-watering over the last few weeks as the market tries to price in an appropriate level of asset value deterioration in this high interest rate environment. Some have been singled out more than others. Take the AIC’s Property – UK Commercial sector […]
Home REIT has said that a report by a short-seller attacking the company is “inaccurate and misleading” and “based on mistaken assumptions, misinformed comments, and disputable allegations”. Viceroy Research alleged that many of the tenants Home REIT works with to provide accommodation for homeless people “cannot afford rent, have not been paying rent, are in […]
Great Portland Estates has secured its largest ever letting – the 321,100 sq ft pre-let of its office development, 2 Aldermanbury Square, EC2, to international law firm Clifford Chance LLP. Clifford Chance has entered an agreement to lease the lower ground to twelfth floors, on separate 20-year leases, with options to break at year 15 […]
They say a week is a long time in politics, try a day. Wednesday was a breathtakingly embarrassing day for the government, with the calamitous Liz Truss finally falling on her sword of uncosted tax cuts on Thursday. This will mean that the UK will have its third prime minister in less than two months […]
