Newly formed single asset real estate company Mailbox REIT has announced its intention to raise £62.5m in an IPO and be the first company to list on the International Property Securities Exchange (IPSX). Mailbox REIT owns the Mailbox, a large prime office-led mixed use property in Birmingham that has been independently valued at £179m, and will […]
Schroder European REIT (SERE) has forward sold an office in Paris for €104m, delivering a net profit of 35% and increasing the company’s net asset value by 15%. The sale of the Boulogne-Billancourt office asset, which was originally acquired in 2016 for €37.5m, is structured as a forward funding, with the building being handed over to […]
Supermarket Income REIT announced its intention to raise £150m in a placing at an issue price of 104p per share, earlier this month. The issue price represents a discount of 6.3% to the closing price on 16 September 2020 and a 3% premium to its last reported NAV at 30 June 2020. The group’s investment […]
Aberdeen Standard European Logistics Income (ASLI) has reported solid half-year results with a net asset value (NAV) total return of 4.2%. The company, which owns a portfolio of 14 logistics assets across Europe, posted an unaudited NAV per share of €1.13 (103.0p), compared with the NAV per share of €1.11 (94.21p) at the end of 2019. […]
Ceiba Investments, the owner of Cuban commercial real estate, reported interim results today that saw net asset value fall 8.9% due largely to big valuation falls in its hotel properties. The company is debt free and its four-strong hotel portfolio is capitalised to the tune of $40m, which is more than enough to comfortably see […]
Ediston Property Investment Company (EPIC) has announced it has started construction of a retail park, in a vote of confidence for the retail sub-sector. The 48,000 sq ft retail park and petrol filling station in Haddington, East Lothian (near Edinburgh), is 97% pre-let to Aldi, Home Bargains, The Food Warehouse, Costa Coffee and Euro Garages. Construction […]
The brakes have been well and truly pumped on any positive sentiment that may have been building in the real estate sector. After the successful ‘Eat Out to Help Out’ scheme and the government urging people to get back to the office, there was some light at the end of the deep, dark tunnel. That […]
Shaftesbury, the REIT that owns a 16-acre property portfolio in the heart of London’s West End, has collected just 41% of rent in the six months to 30 September 2020. The group, which owns properties in Carnaby Street, Soho, Chinatown and Covent Garden, also said vacancy across its portfolio had jumped from 4.8% at the […]
UK Commercial Property REIT (UKCM) has reported a 6.6% fall in net asset value for the six months to the end of June 2020. The company’s NAV has been hit by a drop in the value of its property portfolio during the COVID-19 pandemic, which fell 11.6% to £1.22bn in the period. NAV per share […]
Town Centre Securities (TOWN) has posted a 17.4% fall in net asset value (NAV) in full year results to the end of June 2020. The company, which owns property in Leeds, Manchester and London, saw its NAV fall from 354p to 292p per share, primarily as a result of a revaluation of its portfolio, which […]
