Harworth Group has acquired an industrial park in Merseyside for £26m, as it continues to grow its exposure to the sector. The developer and investor has bought Saturn Park in Knowsley at a net initial yield of 7.7%. Located on a 35.2-acre site, Saturn Park comprises 416,000 sq. ft of modern warehouse space across three units […]
Commercial property valuation has been a bone of contention for years. It is generally accepted that valuers are slow to react to changes in the sector. Just look at the recent history of retail valuations. Despite clear evidence that rents were falling due to the impact on retailer demand for space caused by a boom […]
LondonMetric Property has delivered strong half-year results in which net tangible assets (NTA) jumped 3%. The company saw the value of its portfolio, which comprises industrial and logistics and long-income assets, increased by 2.3% to £2.4bn. As a result, EPRA NTA for 30 September 2020 was 175.5p, compared to 170.3p in March 2020. Net rental income […]
AEW UK REIT reported share price total return for the six months to the end of September of 16.1%. The group, which owns a diverse property portfolio, posted a net asset value of 92.73p per share (down slightly from 93.13p on March 2020). It paid dividends during the period of 4p per share, meaning its […]
British Land has announced the sale of a West End development for £177m, at a 7.6% premium to book value, as well as half-year results. The group disposed of Clarges Mayfair, which consists of 50,000 sq ft of offices, 15,000 sq ft of retail and 34 residential apartments. It acquired the site in 2012 and […]
McKay Securities, which owns a portfolio of office and logistics assets in the South East of England, said it was “ideally placed to benefit” from a shift in the office sector caused by COVID-19. Its office portfolio, which accounts for 56.3% of its £438.95m portfolio, is predominantly located in towns in the Home Counties that […]
Schroder REIT has reported a 2.8% drop in its net asset value (NAV) in half-year results to the end of September 2020. NAV per share now stands at 58p versus 59.7p at 31 March. The fall was due to a 3.4% decrease in the value of its 39-strong property portfolio during the period, which is […]
Home REIT, the recently launched REIT that funds the acquisition and creation of homeless accommodation, has acquired a further five portfolios of properties in England for a total of £41.6m. The deal means that since its £240m initial public offering (IPO) on 12 October 2020, the group has invested more than £50m in accommodation that will house […]
Stenprop has acquired two multi-let industrial (MLI) estates for £14m, as it continues its transition into a fully focused UK MLI landlord. Together the two estates, in Durham and West Bromwich, comprise 58 units and produce just over £1m of annual rent. The largest of the two is the Mandale Business Park, located on the outskirts of […]
Warehouse REIT has acquired a portfolio of five warehouses for £43.6m, reflecting a blended net initial yield of 6.7%. It has bought the properties from Greenstone Property Holdings, a company owned by Warehouse REIT directors Simon Hope and Stephen Barrow. The assets total 570,000 sq ft and provide an annual rent of £2.95m as well as […]
