Shaftesbury, which owns a 16-acre portfolio in London’s West End, has reported a significant reduction in vacancy in a trading update as footfall and trading recover. The group said vacant available-to-let space across its portfolio of retail, hospitality, leisure and offices was down to 4.6% at 31 July (from 8.4% at 31 March). This decreased […]
August has traditionally been a quiet month for property investment deals, as fund managers recharge their batteries ahead of a customary bumper final quarter of the year. Not this year, seemingly, with several high-profile deals going through in the last couple of weeks. For instance, LondonMetric sold a ‘big box’ warehouse for £102m earlier this week […]
LXi REIT has acquired three long-let property assets for a total of £80m, reflecting an accretive 5.25% average net initial yield, as it deploys the proceeds of its £100m equity raise in July. The three assets – a biotech campus in York, TV studios in Glasgow and a recycling facility in Aberdeen – have a […]
Aberdeen Standard European Logistics Income (ASLI) has reported an uplift in net asset value (NAV) in the quarter to 30 June 2021. The group posted a 1.6% increase in NAV to 123.6 euro cents (2.4% in pound sterling to 106.1p), which reflected a NAV total return of 14.7% in the year to 30 June 2021. […]
Sirius Real Estate, the German business park owner and operator, has acquired four assets and one land parcel for €84.8m. The business parks are located in Oberhausen, Frankfurt, Heiligenhaus and Öhringen and provide over 150,000 sqm of lettable space. In addition, the company has acquired a land parcel adjacent to its existing asset in Neuruppin. […]
LondonMetric Property has exchanged to sell its Primark-let distribution warehouse in Thrapston, Northamptonshire, to EQT Exeter for £102.0m, reflecting a net initial yield of 4.1%. The group acquired the property in 2013 for £60.5m, at a net initial yield of 6.4%, and since acquisition, the property has delivered a total return of 123% and an […]
The bumper spell of merger and acquisition (M&A) activity in the UK listed real estate sector has some way to play out yet, with several companies still looking like attractive targets. The share prices of many property companies have yet to return to pre-pandemic days – perhaps understandably when rent collection rates are still below […]
The potential offer for Drum Income Plus REIT (DRIP) by Custodian REIT (CREI), which we think makes perfect sense for both sides (see our news story for more detail) got us looking into the wider UK commercial property peer group to see how are they faring now as the country transitions out of lockdown. The […]
Civitas Social Housing is considering an equity raise to fund its acquisition pipeline and enhance returns. The group said uncommitted capital resources were limited so it would evaluate options, including a potential equity raise, to fund new acquisitions. An £85m M&G debt facility, agreed earlier this year, has been invested or reserved for existing pipeline […]
Standard Life Investments Property Income Trust (SLI) has reported a 3.5% jump in net asset value (NAV) in the quarter to 30 June 2021, as the property market continues to bounce back from the impact of COVID. The increased in NAV, to 88.3p per share, was due to a 3.3% like-for-like rise in the value […]
