British Land has sold a 50% stake in its 1 Triton Square, in London’s Regent’s Place, to Royal London Asset Management Property for £192.5m. This is the building that Meta (Facebook) surrendered its lease on last year, paying British Land £142m in order to walk away from its lease agreement. The combined impact of the […]
Urban Logistics REIT has outlined details of an alternative proposal for abrdn Property Income Trust (API), that it says provides a better deal for API shareholders than the current Custodian Property Income REIT (CREI) bid. The proposal involves the acquisition by Urban Logistics of API’s logistics and retail warehouse assets (portfolio 1 – 66% of […]
Empiric Student Property has delivered a strong set of results with earnings growth of 17.6% and a net asset value (NAV) uplift of 4.6%. The company’s EPRA earnings per share jumped to 4.0p (from 3.4p) in the year to 31 December 2023, allowing it to increase its dividend by 27% to 3.5p. Revenue was up […]
The board of abrdn Property Income Trust (API) has said it would not recommend the Urban Logistics REIT (SHED) proposed bid or new proposal (see details below) for the company on the current terms, reaffirming its recommendation of the Custodian Property Income REIT (CREI) bid. SHED has until the close of play on Friday (15 […]
In QuotedData’s morning briefing 12 March 2024: Regional REIT (RGL) says that it is exploring a possible equity capital raise of around £75m through a rights issue that would be at a material discount to the current share price. The company adds that the rights issue is one of a range of refinancing options it is […]
In QuotedData’s morning briefing 11 March 2024: Shaftesbury Capital (SHC) has completed the acquisition of 25-31 James Street, Covent Garden, London for £75.1m. The properties have a contracted rent of £3.9m and comprise 21,000 sq ft of lettable area, including 12,000 sq ft of retail and 9,000 sq ft of residential and office accommodation. The company says […]
CLS Holdings, the office landlord with assets across the UK, France and Germany, has reported a sharp fall in EPRA net tangible assets (NTA) in full year results to the end of December 2023, as the office sector continues to struggle with valuation declines. The group’s NTA fell 23.2% to 253.0p from 329.6p at the […]
Tritax Big Box REIT has said improving market conditions has reinforced its conviction for logistics development projects. In annual results for the period to 31 December 2023, the company said that easing inflation, continuing rental growth, and improving yields on cost make its development programme more attractive. It added that it will continue to sell […]
In QuotedData’s morning briefing 1 March 2024: UK Commercial Property REIT (UKCM) has sold its 67,000 sq ft office building in Temple Quay, Bristol, to Tri7, a value-add real estate investment and asset management firm. 2 Rivergate in Temple Quay, Bristol, has been sold for £14.5m, which is in line with the 31 December 2023 […]
Spanish retail REIT Lar España posted strong annual results, as a recovery in retail continues at pace. The company, which owns shopping centres and retail parks across Spain, reported total revenues of €95m in the year to 31 December 2023, an increase of 14% over the €83.6m in 2022. Recurring net profit, excluding the accounting […]