LXI REIT has exchanged contracts on the forward funding acquisition of a 94,000 sq ft garden centre in Reading for £19m, reflecting an accretive 5.3% net initial yield. The property is pre-let to Dobbies, the UK’s largest garden centre operator and an existing tenant of the company, on a new 35-year lease, with no break […]
Lar Espana Real Estate has extended the investment management agreement (IMA) with Grupo Lar by five years on a reduced fee. The board of directors of the company, which owns retail malls in Spain and listed on the Madrid Stock Exchange in 2014, has agreed to renew the IMA with a new fee structure. The […]
Urban Logistics REIT has reported a stellar set of annual results in which EPRA net tangible assets (NTA) increased 10.5%. The uplift, to 152.33p per share at 31 March 2021 from 137.89p the previous year, reflected a jump in the value of its properties (by 13.2%) as the logistics sector continued its strong ascent. Total accounting […]
Sirius Real Estate, the German business parks owner and operator, posted a net asset value (NAV) total return for the year to 31 March 2021 of 19.5%. This was generated from a 15.0% uplift in NAV and 3.62 euro cents dividends paid in the year. The strength of the German business park sector, especially in […]
It was refreshing to see news this week of the intention to float of a new real estate investment trust (REIT). Listing a new REIT during the pandemic may have seen a few eyebrows raised among investors, but this one appears to offer investors something different and has strong growth prospects. UK Residential REIT (URES) […]
In what could be the first domino to fall, Aviva decided to wind up its open-ended property fund, more than a year after it suspended dealing in the fund. What does this mean for the future of open-ended property funds? One option that doesn’t end in the liquidation of the fund but still gives investors the chance to exit, is to […]
LondonMetric Property has acquired an urban logistics warehouse in London for £43.8m in a sale-and-leaseback deal. The 115,000 sq ft warehouse in Waltham Cross is let to Reynolds, a national foodservice business, on a new 23-year lease with the benefit of CPI+1 linked rent reviews of between 2% and 4%. The property generates a […]
Tritax EuroBox’s dividend has been hiked 13.6%, as it continues to grow its portfolio of logistics assets in continental Europe. The group reported strong half-year results to 31 March 2021 in which dividends declared in the period rose to 2.50 euro cents from 2.20 cents. This was off the back of a jump in earnings – […]
Warehouse REIT has completed the acquisition of Cambridge South Industrial Estate for £20.15m, reflecting a net initial yield of 4.15%. The scheme, which comprises 68,000 sq ft across 13 newly built multi-let industrial units and an adjacent development site, is located on the wider Dales Manor Business Park, just seven miles south of Cambridge city centre, six […]
After months of delays, the debut listing on the world’s first real estate stock exchange took place on Friday (May 14) – but probably not to the fanfare it was hoping for. Mailbox REIT, owner of the Mailbox office complex in Birmingham, was floated on the International Property Securities Exchange (IPSX) after raising £25.85m – […]
