Alternative Income REIT (AIRE) has posted an 11.8% fall in net asset value in full-year results to the end of June 2020. The drop in NAV, from 94.81p per share in June 2019 to 83.58p this year, was due to the impact on the value of its properties from the COVID-19 pandemic. AIRE’s portfolio fell […]
LXi REIT has sold three assets for £17m and recycled the proceeds into the acquisition of two foodstores for £15m. The group has sold its sole office, a long-let property in Cambuslang, Glasgow occupied by the local council, for £8m, reflecting a yield of 4.2%. It has also disposed of a portfolio of 11 long-let social […]
Home REIT, which is focused on providing accommodation to the homeless, has acquired its first properties since launching. The group has bought a portfolio of five properties located across the North West, North East and Midlands regions of England. The properties are recently completed and purpose-built to provide high quality accommodation to vulnerable, homeless people […]
Land Securities’ chief executive Mark Allan has set out the company’s future strategic direction that will see it “benefit from long-term macro trends”. Having completed a strategic review of the business since joining in April 2020, Allan said four strategic priorities have been identified. Optimise central London business. Through targeted capital recycling to crystallise significant value already […]
Fourth quarter rent collection figures have been coming in thick and fast over the past week or so and overall they show a general improvement on collection rates during the COVID-19 pandemic. There are a few nuggets to come from the announcements so far. The first thing to say is that collection rates have improved […]
LondonMetric Property has sold four retail properties from its long income portfolio for £22.2m and bought three convenience service stations for £10.8m. The sales reflect a blended net initial yield of 4.6% and comprise two M&S food stores in Haslemere and Ferndown, a Matalan unit in Leicester and a Boots and Spar let property on the Isle of […]
Hammerson has collected just 41% of rent due for the fourth quarter of 2020, as the retail sector continues to struggle. Broken down into countries, the group has received 38% from its UK portfolio, 33% in Ireland and 51% in France. It said the collection levels for this quarter are ahead of the same point […]
Civitas Social Housing has responded to notices served on two of its tenants by the Regulator of Social Housing. Westmoreland Supported Housing and Trinity Housing Association have been issued regulatory notices declaring them in breach of the Rent Standard. Specialist supported housing (which Civitas owns) is exempt from Rent Standard requirements because it has been designed […]
Derwent London, owner and developer of some of the biggest offices in London, has collected 80% of rents for the current quarter (billed on 29 September). This was far higher than the June and March quarter payment days at the equivalent time (70% and 73% respectively). The majority of the outstanding rent comes from the […]
Logistics focused property companies Tritax Big Box REIT and LondonMetric Property both announced positive rent collection figures today. Tritax Big Box REIT said it had received 89% of rent for the fourth quarter, with a further 10% expected by the end of November (through upfront monthly payments). The remaining 1% of rent is on payment […]
