British Land has acquired a warehouse in Enfield for £87m and has announced plans for 1m sq ft of urban logistics development at two of its shopping centre sites. It is the first foray into the burgeoning logistics sector for the REIT, which has traditionally had a portfolio focused on offices and retail. It has exchanged […]
The moratorium on evictions that has shackled landlords on rent collection is due to come to an end at the end of June – whether it will or not is anyone’s guess as the government has kicked the can down the road since the pandemic started. It will be good news for property owners that […]
British Land has pre-let 134,000 sq ft of office space at its 1 Broadgate development in the City of London. It has signed a deal with real estate consultancy firm JLL on a 15-year term. The deal represents almost 30% of the office space in the new 546,000 sq ft mixed-use scheme. Demolition of the […]
London office developer Helical collected 92.9% of rent in the year since the lockdown was first implemented in the UK. The group said of the balance, 4.9% had been granted rent holidays – mainly on its food and beverage tenants, and 2.2% subject to ongoing discussions. Of the current quarter, to the end of June […]
Irish Residential Properties REIT (IRES REIT) is looking at internalising its management team, following the receipt of a notice of termination from its current investment manager. IRES Fund Management Limited, a wholly-owned subsidiary of CAPREIT, served notice yesterday of the termination of the investment management agreement, which will take effect on 31 March 2022. The […]
Stenprop, the UK multi-let industrial (MLI) property company, has completed several transactions which further progresses its strategic goal of becoming a fully focussed MLI REIT. It has acquired the Headlands Trading Estate in Swindon for £7.4m; disposed of the Bikemax portfolio of five German retail warehouse units for €27m; and completed the sale of the Victoria Centre retail […]
Tritax EuroBox has acquired two assets in Germany for €290.9m, deploying the proceeds of its capital raise in March. The assets, a 70,000 sqm logistics facility let to a leading German sportswear manufacturer and a 94,800 sqm property let to Wayfair, have a combined rental income of €11.38m a year and were acquired for a […]
CEIBA Investments, the real estate company dedicated to investing in Cuba, has raised €25m in an unsecured convertible bond issue. The 10%, five-year bond was priced at the unaudited net asset value per share at 30 June 2020 of 104.3p and will be admitted to the International Stock Exchange, Guernsey. The capital will finance the completion of […]
LXI REIT has acquired seven grocery stores for £85m, in the first step in deploying the proceeds of its £125m capital raise earlier this month. The acquisitions comprise both pre-let forward fundings and built investments and have an average net initial yield of 5.25%. Together, the assets have a long average unexpired lease term to first […]
Chancellor Rishi Sunak has called on businesses to end working from home once the pandemic is over. It is likely to be the first of many calls as the government tries to kick start the economy – with the prosperity of city centres dependent on office workers. Although he may have an agenda to get […]
