Supermarket Income REIT has acquired four supermarkets for £76.4m, reflecting a combined net initial yield of 5.1%. Acquired from different vendors, the purchases consist of two Tesco supermarkets, located in Cheltenham and Merseyside, as well as a central Glasgow site anchored by a Sainsbury’s supermarket and an M&S Foodhall. The Tesco in Bishops Cleeve, Cheltenham, […]
In QuotedData’s morning briefing on 16 August 2022: LondonMetric Property (LMP) sold four assets, in two separate transactions, for £25.6m, reflecting a blended net initial yield (NIY) of 5.3%. In the first transaction, the company sold a portfolio of three multi-let industrial assets totalling 53 units across 235,000 sq ft, located in Halesowen and Aston, […]
The logistics sector is in a curious place right now. Comments from Amazon (the market leader in occupier take-up of logistics space over the last few years) about slowing the pace of its warehouse expansion have freaked the market. Meanwhile interest rate rises will almost certainly see investment yields erode as the cost of capital […]
Home REIT has acquired 199 properties for homeless accommodation for £85.1m, as it continues to deploy the proceeds of its £263m equity raise in May. The company has now deployed a total of £170m (66%) of the proceeds with this latest tranche, which adds a further 869 beds to its portfolio bringing the portfolio total […]
Three members of Palace Capital’s board have today resigned from the company after shareholders revolted against the company’s change in strategy, which was announced earlier this month. Mickola Wilson (Senior Independent Director), Kim Taylor-Smith (Non-Executive Director) and Paula Dillon (Non-Executive Director) have all stepped down from the board with immediate effect, leaving no independent directors […]
Town Centre Securities (TOWN), the property investment, development, car park and hotel operator, has sold its equity investment in YourParkingSpace (YPS) Limited to Flowbird SAS for £20.7m – a huge uplift on the book value of the stake of £1.47m (with an additional £1.53m loan to YPS) on the group’s balance sheet. The YPS platform […]
Impact Healthcare REIT has raised £22.3m in a placing and offer for subscription. The group said the proceeds would be used with existing resources to acquire a pipeline of care home investments. The group is in advanced negotiations to acquire six portfolios, consisting of 27 separate care homes, for a total of £169m. Existing resources […]
Palace Capital will become a purely regional offices investor, focusing on ESG enhancements to create value. The company announced the move following a strategic review by the board as it wrestles with a wide share price discount to net asset value (NAV). The group said that it “intends to have a pure focus as an […]
Supermarket Income REIT has acquired two supermarket assets for a total of £82.9m, reflecting a combined net initial yield of 4.9%. It has purchased a Tesco superstore, M&S Foodhall and an Iceland in Chineham, Basingstoke, and an Asda supermarket in Carcroft, Doncaster. The 18.7 acre Chineham site has been acquired from Tellon Capital and comprises […]
Home REIT has acquired two portfolios of homeless accommodation properties for a total of £92.3m, its first deployment since its £263m equity issue in May 2022. The company has acquired 183 properties located across England for £84.9m, and in a separate transaction bought 33 additional properties for £7.4m. In total, these have added a further […]
