Land Securities has exchanged contracts to sell its Moorgate station office development 21 Moorfields, EC2, to Lendlease for £809m. After outstanding development-related items, net cash receipt to Landsec will be £733m. 21 Moorfields is a 568,500 sq ft London office development fully pre-let to Deutsche Bank AG on a 25 year lease, with an annualised […]
LXI REIT is considering an equity raise to part-fund the £500m acquisition of a portfolio of 18 Sainsbury’s supermarkets. The group said that it was currently in discussions to acquire from Sainsbury’s, on a sale and leaseback basis, the 18-strong portfolio of prime grocery store assets, which are predominantly located in Southern England locations, but […]
Tritax EuroBox has announced that Nick Preston has stepped down as fund manager of the company and has been replaced by Phil Redding, a partner at Tritax EuroBox’s manager Tritax Management. Phil joined Tritax in November 2020 as director of investment strategy, providing strategic investment advice across four flagship Tritax funds. Prior to joining Tritax, […]
Supermarket Income REIT says it will continue to grow its portfolio through acquisitions after reporting a 6% increase in EPRA net tangible assets (NTA) in the year to 30 June 2022 to 115p per share. With dividends, this equates to a 12% NAV total return for the year and 7% share price total return – […]
Civitas Social Housing has provided an update on the progress in the implementation of its new regulatory clause (details of which were announced in May). The clause is intended to assist housing associations to be better positioned to achieve regulatory compliance under the Regulator of Social Housing’s governance and financial viability standard. The clause has […]
Home REIT has continued its acquisition drive with the purchase of 158 additional properties for £57.4m. The acquisitions were funded by proceeds raised in the company’s oversubscribed £263m equity issue in May 2022 (of which the company has now deployed a total of £227m or 88% of the proceeds). The properties have added a further […]
A new supported living real estate investment trust (REIT) plans to launch targeting £150m in an initial public offering (IPO). Independent Living REIT plc today announced its intention to launch on the London Stock Exchange through the issuance of new ordinary shares in the company by way of a placing, offer for subscription and intermediaries […]
Helical has sold its TikTok-let Farringdon office building to Chinachem Group for £158.5m. The group has exchanged contracts on the sale of the single asset company, Farringdon East (Jersey) Limited, which owns the long leasehold interest in Kaleidoscope, Lindsey Street, EC1 at a capital value of £1,789 per sq ft and a marginal premium to […]
LXi REIT has sold a 65-year “income strip” on its Thorpe Park and Alton Towers assets to an institutional investor for £257m. As part of the deal, the company has sold the freehold in the properties to the buyer, with 999-year leases granted back to the company, with LXI paying the buyer an annual aggregate […]
In QuotedData’s morning briefing 23 August 2022: Axiom European Financial Debt (AXI) has published its interim results for the six months ended 30 June 2022. During the period, AXI provided NAV and share price total returns of -7.27% and -6.28% respectively. Its chairman, William Scott, says that “the Company’s returns in the first half of […]
