Here at QuotedData we like a company that takes the bull by the horns and gets on with things. So it was good to see two significant announcements this week from Land Securities (Landsec) that certainly shows courage in their convictions. As we reported this week, Landsec announced it had agreed to takeover listed regeneration […]
Industrials REIT has acquired three multi-let industrial (MLI) estates, as it nears its target of being a fully focused MLI REIT by 31 March 2022. The three estates, in Birkenhead, Coatbridge, and Stockton on Tees, have been purchased in separate transactions for a total consideration of £18m, reflecting a blended net initial yield of 7.1% and […]
Urban Logistics REIT has acquired three assets for a total of £29.0m at a blended net initial yield (NIY) of 6.7%, as it continues deployment of its recent equity raise. The assets include two income producing assets providing immediate additional revenue and the forward funding of a development project. As a result Urban Logistics has […]
Derwent London has exchanged contracts to acquire Conoco House and Quadrant House at 230 Blackfriars Road, SE1 in Southwark, for £55.0m. It has bought the 100-year leasehold interest in the property, where the ground rent is fixed at £5,000 per annum. Conoco House, a 1970s office building comprising 60,300 sq ft, is multi-let at a […]
Land Securities (LAND) has acquired a 75% stake in MediaCity, the 37 acre media, digital and tech hub home to the BBC in Salford, Greater Manchester, for £425.6m. The site was previously owned by a 50:50 joint venture between Legal & General and Peel L&P. Landsec will partner with Peel L&P who will retain a […]
Land Securities (LAND) has agreed terms of a recommended all cash offer for U and I Group (UAI), valuing the company at £190m. Under the terms of the acquisition, UAI shareholders will be entitled to receive 149p per share, which is a mammoth 73% premium to the closing price of 86.0p on 29 October 2021. […]
If ever there was a sector that was in need of a shot in the arm from the Autumn budget this week it was retail. Unfortunately, the chancellor passed up on the opportunity with wishy-washy business rates reform. Rishi Sunak’s announcement that business rates in the retail, hospitality and food & beverage sectors would be […]
African real estate investor Grit Real Estate announced full year results to the end of June 2021, with a 12.6% drop in net asset value (NAV). EPRA net reinstatement value (NRV – the group’s EPRA equivalent for NAV) per share contracted to $1.024 (2020: $1.171). The reduction was principally as a result of a decrease […]
Urban Logistics REIT has announced plans to move to the premium segment of the main market of the London Stock Exchange. The directors said they believed that the market capitalisation of the company (£550m) now justifies the move and that it would provide the most appropriate market listing for the continuing growth of the company. […]
The remarkable response to the COVID-19 pandemic by the UK life sciences sector, with the development of the Oxford-AstraZeneca vaccine in record quick time, brought the sector into the consciousness of the masses. In truth, UK life sciences has been a budding sector for years, with four of the top 10 universities in the world […]
