Schroder REIT has reported a 2.8% drop in its net asset value (NAV) in half-year results to the end of September 2020. NAV per share now stands at 58p versus 59.7p at 31 March. The fall was due to a 3.4% decrease in the value of its 39-strong property portfolio during the period, which is […]
Home REIT, the recently launched REIT that funds the acquisition and creation of homeless accommodation, has acquired a further five portfolios of properties in England for a total of £41.6m. The deal means that since its £240m initial public offering (IPO) on 12 October 2020, the group has invested more than £50m in accommodation that will house […]
Stenprop has acquired two multi-let industrial (MLI) estates for £14m, as it continues its transition into a fully focused UK MLI landlord. Together the two estates, in Durham and West Bromwich, comprise 58 units and produce just over £1m of annual rent. The largest of the two is the Mandale Business Park, located on the outskirts of […]
Warehouse REIT has acquired a portfolio of five warehouses for £43.6m, reflecting a blended net initial yield of 6.7%. It has bought the properties from Greenstone Property Holdings, a company owned by Warehouse REIT directors Simon Hope and Stephen Barrow. The assets total 570,000 sq ft and provide an annual rent of £2.95m as well as […]
Supermarket Income REIT has acquired a Tesco Extra and an adjoining Aldi supermarket in Leicester from British Land. It has bought the two supermarkets for a total of £63.4m, reflecting a 6.4% yield. The acquisitions mean Aldi, which is one of the fastest growing grocers in the UK, has become a new tenant in Supermarket Income […]
Hoorah, some good news. A vaccine breakthrough courtesy of Pfizer and BioNTech brought much needed positivity. For the property sector, it was the shot in the arm it needed just a week after lockdown 2.0 was announced. Will life go back to normal with a successful vaccine available or are trends developed during the pandemic, […]
Tritax Big Box REIT has bought a logistics facility let to Tesco for £44.2m, funded through cash and the issue of new shares to the vendor. The group has acquired the temperature controlled distribution unit in Southampton from a “UK real estate fund” at a net initial yield of 5.24%. The £44.2m acquisition will be […]
Regional REIT has announced it will sell all non-office assets after a strategic review by the board. The group’s portfolio consists of 150 properties worth £739.9m, 80.3% weighted to offices located outside of London. It will look to dispose of its industrial assets (13.9% of the portfolio), retail (4.3%) and other sectors (1.5%), valued at […]
London office owner and developer Great Portland Estates said it expects rental values to fall by between 5% and 10%. Chief executive Toby Courtauld said rising unemployment due to the impact of COVID-19 will mean “rents and capital values in London will fall further”. The group gave the guidance as part of half-year results to […]
Urban Logistics REIT has acquired a logistics site for £34.3m as it continues to deploy the proceeds of its recent equity raise. The company has bought the site in Hoddesdon, Hertfordshire, at a net initial yield of 5.4%. The 12-acre site comprises five units, three of which are let to Müller UK & Ireland Group, a […]
