The dispute between Travelodge and its landlords took another turn this week with the budget hotel operator threatening to pursue a company voluntary arrangement (CVA) if rent cuts of up to 80% for 18 months was not agreed. In a letter sent to landlords, Travelodge said it had already lost the equivalent of several months […]
Sirius Real Estate has reaffirmed its dividend policy after reporting high levels of rent collection in April as lockdown measures in Germany ease. The company, which owns a portfolio of business parks in Germany, said it received 98.8% of normal levels of rent and service charge for April and no significant reduction in the first two […]
Standard Life Investments Property Income Trust (SLI) has reported a 7.5% fall in net asset value (NAV) in the quarter to the end of March as the impact of covid-19 bites. The company, which owns a diverse portfolio of commercial properties in the UK, said NAV per share was 83.2p compared to 89.9p on 31 […]
Primary Health Properties (PHP), has acquired a portfolio of 20 purpose-built medical centres for £47.1m. The company, which owns a portfolio of primary healthcare facilities, has also conditionally contracted to acquire a further two medical centres for £6.9m. The acquired properties are leased to GP practices, other NHS healthcare operators and pharmacies, with around 91% […]
In the past couple of weeks we have seen two big over-subscribed capital raises by property companies that have caught many by surprise. First Supermarket Income REIT almost doubled its £75m target, raising £139.8m. And this week LondonMetric, the logistics focused company, exceeded its £100m target, raising £120m. It has caught many by surprise because […]
Impact Healthcare REIT has posted a slight uplift in net asset value (NAV) for the first quarter of 2020. The group, which owns a portfolio of UK healthcare real estate assets, reported a NAV of 106.98p per share, up from 106.81p at the end of December 2019. It also declared a dividend for the first quarter […]
Empiric Student Property has said it expects a reduction of income for the current academic year of up to 12% or £8m, in a trading update this morning. The loss of income from students being released from their rent obligations for the summer semester is below the company’s worst-case scenario of a £21m reduction in income. […]
UK Commercial Property REIT has reported a 3.9% fall in net asset value (NAV) for the quarter to the end of March. NAV per share at the group, which owns a diverse portfolio of UK real estate, was 86.3p at 31 March 2020, compared to 89.8p at the end of December 2019. The fall was […]
Regional REIT has provided an update on rent collection stating it had collected 92.8%. The group, which owns a diverse portfolio of office and industrial property assets in the UK, said the 92.8% of rent collected compares favourably with 91.6% rent collection at the same date in 2019. The collection rate, as at 1 May 2020, […]
Stenprop, the UK industrial property focused company, has provided a first quarter trading update, adding that it had now collected 81% of rent for the current quarter. In the first quarter the group completed 28 new lettings and 25 lease renewals, totalling 186,513 sq ft and generating £1.03m per annum of contractual rental income. It […]
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