British Land has suspended its dividend payments and said it was offering smaller shopping centre tenants a three-month rental holiday due to covid-19. The group said larger retailers and leisure tenants would be able to spread payments over the six quarters from September 2020. The company, which owns and develops office and retail property, said […]
Impact Healthcare REIT, which owns a portfolio of care homes in the UK, has provided a covid-19 business update. The group said the number of occupied beds in its portfolio has been stable, with 3,848 beds occupied on 3 January 2020, and 3,886 beds occupied on 20 March 2020. It added that a number of the group’s […]
Self-storage giant Big Yellow Group (BYG) has reported a drop-off in occupancy as a result of covid-19. The company said current like-for-like occupancy across its portfolio is 81.6% across 56,000 customers. In half-year results to the end of September 2019, like-for-like occupancy was 84.1%. The group said it had seen an increase in demand from […]
Intu Properties has said it expects to seek covenant waivers from its lenders as the impact of covid-19 hits its rental income. The group, which owns shopping centres in the UK and Spain, said it had received 29% of its rent for the second quarter when it fell due yesterday (25 March 2020). For the […]
St Modwen Properties has said it is in a strong position to handle the disruption caused by covid-19. The group has adjourned its AGM, scheduled for 27 March 2020, and therefore payment of its final dividend for 2019 of 5.1 pence per share, which was due to be paid on 3 April 2020, as this requires […]
Several property companies have updated the market on the impact of Covid-19 on their business. Here we have rounded up the latest. Yesterday we reported updates from NewRiver REIT, Schroder REIT and Civitas Social Housing. You can read them by clicking the links. QuotedData has also published a piece looking at the likely long-term impact […]
The coronavirus has had a big impact on markets around the world, but the longer-lasting effects have yet to be realised. We have seen people’s day-to-day lives change, from stock-piling essential goods to working from home. Technology has enabled these things to happen, things like home delivery and conferencing call facilities. One of the knock-on […]
Civitas Social Housing has acquired a portfolio of properties for £19.6m, bringing its run-rate dividend cover to 100%. The group has completed the purchase of five freehold properties comprising 63 tenancies for £17.8m and exchanged contracts on three further properties comprising 11 tenancies for £1.8m. The properties are located in Hertfordshire, Shropshire and Tyne and Wear, over […]
NewRiver REIT will not pay a fourth quarter dividend, it has announced, due to the coronavirus pandemic. The company, which owns a portfolio of community shopping centres, convenience stores and pubs, said it is focused on cash preservation and reducing operational costs during this uncertain time. The decision not to pay a fourth quarter dividend, will […]
Empiric Student Property’s chief executive Tim Attlee will step down from the role in June 2020. The company made the announcement alongside full year results today. It said Attlee would remain in the position until the end of June 2020 and the board would commence an immediate search for his successor. Attlee co-founded and helped […]
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