Tuesday next week will mark a year to the day that Boris Johnson announced the UK would go into full lockdown in a bid to curb the COVID-19 pandemic. It seems unbelievable that a year later we are still in a lockdown. The successive lockdowns have hugely impacted the property sector – mainly negatively (as […]
The two listed social housing REITs, Civitas Social Housing and Triple Point Social Housing REIT, have responded to regulatory judgements on two of their tenants. Pivotal Housing Association and Hilldale Housing Association both breached the Regulator of Social Housing’s (RSH’s) governance and financial viability. Civitas said Pivotal, which represents 3.96% of its rent roll, and Hilldale, which […]
Sirius Real Estate, the owner and operator of business parks in Germany, has acquired an asset in Essen for €10.7m The transaction is by way of a sale and leaseback with thyssenkrupp, the international industrial engineering and technology group, and reflects an EPRA net initial yield of 6.5%. The purchase was sourced by the Sirius […]
LondonMetric Property has acquired a data centre and urban logistics warehouse, both in Milton Keynes, for a combined £31.2m. The 66,000 sq ft data centre is let to TalkTalk and was bought for £23.9m and the 42,000 sq ft urban logistics facility was acquired for £7.3m. The blended net initial yield was 4.4%, with a […]
What to do about empty shops? The problem child of the property sector has been causing headaches for landlords for years. That headache has turned to a head-splitting migraine since the COVID pandemic. As much as 30% of retail space in the UK was thought to be surplus to requirements before the pandemic. Now, with […]
Tritax EuroBox, which invests in logistics real estate assets in continental Europe, has been assigned an investment grade credit rating by Fitch Ratings. By achieving investment grade rating (it has been assigned a BBB- long-term corporate credit rating), the group has satisfied a condition on its existing revolving credit facility that will result in an immediate […]
LondonMetric Property has sold a portfolio of long income assets to Realty Income, an S&P 500 US REIT, for £40.9m, reflecting a blended net initial yield of 5.9%. The portfolio, which has a WAULT of 11 years, comprises: A 106,000 sq ft retail asset in Leicester let to B&Q, Home Bargain and Smyths Toys. The […]
Tritax Big Box REIT reported a whopping 15.7% jump in EPRA net tangible assets (NTA) in full year to the end of December 2020, as the strong fundamentals of the logistics sector continued apace. The group’s portfolio grew in value over the year by 11.9% to £4.41bn, driven by development gains, asset management and the strength […]
West End landlord Capital & Counties reported a portfolio value loss of almost a billion pounds during 2020. The group, which owns huge swathes of Covent Garden, said its property portfolio was valued at £1.9bn at the end of 2020, down 26% on a like-for-like basis from £2.8bn a year previously. The valuation deficit was […]
Stenprop has acquired three multi-let industrial (MLI) estates for £18.4m as it remains on target to be a fully focused MLI REIT by the end of the next financial year. The three in Newcastle, Bromborough and Bradford, have been purchased in separate transactions at a net initial yield of 6.7% and a capital value of […]
