West End property landlord Capital & Counties (Capco) is in talks to acquire a 26.3% stake in rival Shaftesbury, potentially paving the way for a multi-billion pound takeover. Capco, which owns a vast chunk of Covent Garden, confirmed it was in discussions to buy the stake from Hong Kong billionaire Samuel Tak Lee following a […]
British Land has reported a 10.1% drop in the value of its property property as the covid-19 pandemic takes its toll on the group’s retail portfolio. For the year ending 31 March 2020, British Land’s portfolio valuation plummeted by £1.2bn, from £12.3bn to £11.1bn. The FTSE 100 REIT said that the drop was driven by […]
Hammerson chief executive David Atkins has stepped down from the role. Atkins will remain in position until spring 2021 at the latest, while the board conducts a search for his successor, the company announced today. Hammerson, which owns a portfolio of shopping centres, retail parks and outlet centres across the UK and Europe, has suffered […]
Supermarket Income REIT (SUPR) has acquired a 25.5% stake in a portfolio of Sainsbury’s supermarkets in a joint venture (JV) with British Airways Pension Fund. The JV has acquired the stake in the 26 stores from British Land for £102m. SUPR’s contribution to the JV is £51m, excluding costs, which will be satisfied from its existing […]
AEW UK REIT has sold its largest asset for £18.8m. The car park asset at Geddington Road, Corby, was acquired in February 2018 for £12.4m and is fully let to Gefco UK for just over one year. AEW UK said it had not invested any capital expenditure in the asset during its hold period, which has […]
Aberdeen Standard European Logistics Income (ASLI) has posted a 6.1% jump in net asset value (NAV) for the first quarter of 2020. The company, which owns a portfolio of 14 logistics assets across Europe, reported NAV per share of 99.92p (112.7c) at 31 March 2020, up from 94.21p (111.0c) on 31 December 2019. The increase […]
It was announced today that UK retail sales fell almost 20% in April as strict lockdown measures took hold. In the clothing retail sector, the impact of lockdown was even bleaker. Sales volumes plummeted over 50% when compared to March, which had already fallen by 34.9% on the previous month. With lockdown measures gradually being […]
Regional REIT has now collected 93.9% of rent for the current quarter, it announced in a trading update. The group, which owns office and industrial assets in regional UK cities, said the figure was ahead of that collected at the same point last year (92.7%). It said it will pay a dividend of 1.90 pence […]
Assura has reported strong full year results in which net asset value (NAV) increased 1.1%. The company, which owns a portfolio of 576 GP surgeries and medical centres, posted a diluted EPRA NAV per share of 53.9p. The group’s portfolio jumped in value by 8.1% in the year to £2.14bn due to acquisitions. On a […]
Great Portland Estates has posted a 1.8% rise in net asset value (NAV) in full year results to the end of March 2020. The central London office developer reported an EPRA NAV per share of 868p. Its portfolio valuation was stable, with a slight decrease of 0.3% to £2,624.1m. The increase in NAV was due to […]
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