Supermarket Income REIT has acquired a further stake in a 26-strong Sainsbury’s portfolio. The group, in a joint venture partnership with BA Pension fund, bought a 25.5% stake in the Sainsbury’s portfolio last year from British Land, and has today acquired a further 25.5% stake from Aviva Investors for £115m. Following this second acquisition, the […]
Supermarket Income REIT has acquired its first Northern Ireland asset with the purchase of a Sainsbury’s supermarket in Bangor for £24.8m. The price for the 10-acre site, which also includes a Homebase unit, reflects a net initial yield of 6.6%. Developed in 2011, the site comprises a 44,000 sq ft net sales area supermarket with 650 […]
Grit Real Estate, which invests in pan-african real estate assets (ex South Africa) has reported a 6.3% increase in EPRA net reinstatement value (NRV – one of the new EPRA reporting metrics for property companies replacing EPRA net asset value (NAV)) – over the six months to the end of December 2020. This increase (from […]
After witnessing the anguish of property companies slashing dividends left, right and centre, at the start of the pandemic last year, it is encouraging to see news of dividend hikes now filtering through. Not all companies have experienced tenant distress during the crisis, and it is good to see that investors are being rewarded with a […]
Care home investor Target Healthcare REIT has announced its intention to raise £50m through a placing to fund new acquisitions. The issue price of 111p per share represents a discount of 4.8% to last night’s closing price of 116.6p and a 2.6% premium to its last reported EPRA net asset value (NAV) of 108.2p (at […]
St Modwen Properties has continued its focus on the thriving logistics property sector, which now accounts for 49% of its portfolio. In full year results to the end of November 2020, the company said this had grown from 39% a year previously and would accelerate growth. The group also has a strong focus on the […]
There can be no doubt that the COVID-19 pandemic has changed the landscape in the property sector forever. So, it has been interesting to observe how different property companies have responded with the composition of their portfolios. Any manager worth their salt would have been exiting high street retail a long time ago. But it […]
Alternative Income REIT has collected 91.4% of rent for the COVID affected final nine months of 2020. It said payment plans were in place on the remaining 8.6%. For the first quarter of 2021, it has collected 80.4% of quarterly billed rent and has agreed or is in the process of agreeing rent concessions with […]
UK Commercial Property REIT has posted a 3.2% increase in net asset value (NAV) in the quarter to the end of December 2020. The group, which owns a diverse portfolio of property weighted to the industrial sector, saw the value of its portfolio rise 2.9% on a like-for-like basis in the period to £1.21bn. Together […]
Standard Life Investments Property Income Trust has reported a 4.1% increase in net asset value (NAV) in the quarter to the end of December 2020. NAV total return for the period (including the payment of dividends) was 5.0%. The increase in NAV, to 82.0p per share from 78.8p in September 2020, was primarily down to […]
