Standard Life Investments Property Income Trust has reported half-year results that show an 11.5% fall in net asset value (NAV). The company’s NAV per share fell to 79.6p on 30 June 2020 (Dec 2019: 89.9p) due to an 9.9% drop in the value of its property portfolio to £447.3m. NAV total return in the six months […]
Tritax Big Box REIT (BBOX) has sold three assets for £77m. The group said the three assets had reached their full value following the completion of asset management initiatives that delivered rental growth and a lease extension. The assets comprise Baker Business Park in Ripon, Langley Mill, in Nottingham and Warth Park in Raunds. All […]
Stenprop has acquired two multi-let industrial (MLI) properties for £11.1m, reflecting a blended net initial yield of 6.5%. The two estates, in Glasgow and Stoke-on-Trent, comprise 18 units and brings Stenprop’s MLI portfolio to over 5m sq ft and 61% of its overall portfolio. The Excelsior Industrial Estate on the south west side of Glasgow […]
Real Estate Investors (RLE), the Midlands-focused REIT, has reported a 4.6% drop in net asset value (NAV) in half-year results. The company’s EPRA NAV fell from 67.4p per share at the end of 2019 to 64.3p at 30 June 2020. The fall was mainly driven by a 3% drop in its portfolio valuation, from £228.9m […]
Town Centre Securities, the regional property investor and car park operator, has sold four retail properties in Scotland and London for £35.2m. It has sold two Waitrose stores in Milngavie and Glasgow; an Aldi/Home Bargains store in Milngavie; and a high street retail store in Chiswick, London. The details of the sales are as follows: […]
Real estate landlords must be thinking ‘when are we going to catch a break?’ Or more to the point ‘when is the government going to give us a break?’ This week, in all his wisdom, communities secretary Robert Jenrick announced an extension to the ban on evicting commercial tenants until the end of the year. […]
Regional REIT reported a 10.2% fall in net tangible assets (NTA) in the six months to June 2020. The company, which owns a portfolio of office and industrial properties in UK regional markets, saw the valuation of its portfolio fall 4.3% in the period due to Covid-19 uncertainty. It has collected 94.1% of rents in […]
Schroder REIT has secured 13 new lettings or renewals across its portfolio. The group, which announced a share buyback programme last week, said the activity increased contracted rental income by £210,000 a year. The activity included: A new lease for a three year term to the Secretary of State for Housing, Communities and Local Government at […]
CLS Holdings has exchanged contracts to acquire a portfolio of commuter belt office properties for £59.71m. The portfolio consists of One Church Road, in Richmond; Priory Place, in Chelmsford; and Kings Court, in Leatherhead. One Church Road is located adjacent to Richmond Station, providing fast access to several commuter hubs including Clapham Junction and London […]
Alvarium Investments announced its intention to float Home REIT this week. Launching a new REIT during a global pandemic may have caused a few raised eyebrows among investors, but this is one we are particularly excited about. It was quickly apparent from reading the announcement that Home REIT is looking to tap into a sector […]
