Student accommodation specialist Unite has raised £300m in an equity raise. A total of 34,482,759 new ordinary shares were placed at a price of 870 pence per share, representing a discount of 3.1% to the closing price on 24 June 2020 of 897.5 pence. Concurrently with the placing, certain directors of the company subscribed for an aggregate of […]
Harworth Group has acquired a Midlands industrial estate for £10.1m. The property developer and investor said the buy was in line with its strategy to grow its recurring income base through the acquisition of high yielding assets with further asset management potential. It has bought the estate, located close to both Dudley and Stourbridge town centres […]
LondonMetric Property has acquired five Waitrose supermarkets and an urban logistics facility let to Ocado for a total of £72.9m. It has purchased the supermarkets from Waitrose in a sale-and-leaseback deal for £62m. Waitrose has signed new 20-year leases linked to CPIH. They are located in Keynsham, Malmesbury, Paddock Wood, Towcester and Yateley and range in […]
St Modwen Properties has revealed positive trading performance in its logistics portfolio during lockdown. The company, which is focused on developments in the logistics and residential property sectors, said leasing activity during lockdown had been strong. Of its completed logistics developments 74% are now let or under offer, compared to 58% in February 2020, while […]
Schroder European REIT (SERE) halves quarterly dividend due to uncertainty caused by covid-19. The group declared a quarterly dividend of 0.925 euro cents for the period 1 January to 31 March 2020, which equates to 50% of its target dividend level. It brings total dividends declared for the six months to 31 March 2020 to […]
AEW UK REIT has posted a 5.6% fall in net asset value (NAV) per share in full year results to March 2020. NAV fell to 93.13p per share, from 98.61p last year. The decrease was driven by a 4.2% fall in its property portfolio to £189.3m (2019: 197.61m) due to material uncertainty caused by covid-19. […]
Custodian REIT has said the covid-19 pandemic has significantly impacted its portfolio, with a 2.2% valuation fall in the final quarter of the year alone. In full year results to the end of March 2020, the group posted a total portfolio valuation fall of 2.3% in the year to £559.8m (2019: £572.7m). Net asset value […]
Picton Property reported a rise in the value of its portfolio of 1.4% in full year results to the end of March 2020. The company’s portfolio was valued at £665m, down from £685m in March 2019 after two asset disposals, but up 1.4% on a like-for-like basis. The valuation increase is in despite of material […]
The debate around the future of retail has been raging for some time, but the fire has been stoked further by the covid-19 enforced shutdown. Consensus has always been that there is too much retail property in the UK, mainly in high streets and shopping centres. NewRiver REIT this week gave some indication to the […]
The PRS REIT has now declared a dividend for the first quarter of this year, having seen the private rented sector (PRS) perform resiliently during the covid-19 pandemic. The company, which invests in new-build family homes in the PRS, will pay an interim dividend of 1.0p for the period 1 January to 31 March 2020, which […]
