Helical has sold City of London office development 100 New Bridge Street to an unnamed S&P 500 company (thought to be investment bank State Street) for £333m. The 195,000 sq ft office will become the company’s new London headquarters, with the purchase price reflecting a 5% yield. Helical owns the site in a 50/50 joint […]
LondonMetric Property has forward-funded the acquisition of a pre-let M&S logistics warehouse in Bristol for £74.0m, reflecting a NIY of 5.65%. The 390,000 sq ft regional logistics warehouse is pre-let to M&S on a 20-year lease with five yearly upward only rent reviews linked to CPI. The highly specified warehouse is being developed by Epta […]
Assura has reached agreement on the terms of a recommended cash offer for the company by Kohlberg Kravis Roberts (KKR) and Stonepeak Partners. Under the terms of the acquisition, each Assura shareholder shall be entitled to receive 49.4p, comprising 48.56p in cash and a quarterly interim dividend of 0.84p. Together this represents 100% of Assura’s […]
Primary Health Properties has made an indicative cash and share proposal for Assura, based on a NAV for NAV exchange ratio. Under the terms of the combination, shareholders of Assura would receive 0.3848 new PHP shares and 9.08p in cash. PHP said it will make a mix and match facility available to Assura shareholders in […]
Urban Logistics REIT has announced the acquisition of two logistics assets for £21.1m, as it looks to demonstrate the strengths of its strategy amid an activist shareholder revolt. The assets in Liverpool and Leeds were bought at a blended net initial yield (NIY) of 7.34% and a blended reversionary yield of 7.64%. These were funded […]
The board of Urban Logistics REIT has urged shareholders to vote against all of the proposals made by Achilles Investment Company in its requisition request, as a war of words hots up between the two companies. Achilles has requested the immediate replacement of chairman Nigel Rich and director Heather Hancock as well as the removal […]
LondonMetric has agreed a deal to acquire TISE-listed Highcroft, a UK REIT which owns a portfolio of real estate assets weighted towards logistics (52%) and retail warehousing (27%). The recommended all-share offer will see Highcroft shareholders receive 4.65 new LondonMetric shares for each Highcroft share. On the basis of the closing price per LondonMetric share of 181.1p […]
The board of Warehouse REIT has announced that it would be minded to recommend Blackstone’s cash offer for the company. Blackstone made a final offer earlier this week at 115.0p per share, valuing the company at £489m. It said that it would engage in discussions with Blackstone in relation to terms and to allow Blackstone […]
SEGRO has announced plans to develop a £1bn data centre at Park Royal in west London. The company has formed a joint venture with Pure Data Centres Group, owned by Oaktree, to finance the development of a 56MW scheme. It said that it expects to pre-let the 30,000 sqm, three-storey building to a hyperscaler. Gross capital […]
Regional REIT’s annual results for 2024 highlighted both the severe headwinds the company is facing and the early effects of the turnaround strategy it has put in place. The numbers do not make for easy reading, with the EPRA net tangible assets (NTA) down just over 40% to 210.2p per share from its restated 2023 […]
