Helical has sold a central London office building for £48.5m and a net initial yield of 3.92%. The sale of 90 Bartholomew Close, Barts Square, EC1, which was made by Helical and its joint venture partner The Baupost Group, is a fillip for the property market during a period of few investment transactions due to […]
Several property companies have updated the market on the impact of covid-19 on their business, as the lockdown in the UK is extended. Schroder REIT Schroder REIT has drawn its revolving credit facility (RCF) with Royal Bank of Scotland International in full, totalling £52.5m, to boost its cash reserves. Following the drawdown, the company has […]
Self-storage specialist Big Yellow Group has reported relatively robust trading during the covid-19 pandemic. The group said it saw heightened levels of activity both in and out of the business in the last two weeks in March. It recorded a net overall loss of 23,000 sq ft in occupancy in the two-week period. It said customer move-ins […]
BMO Commercial Property Trust’s net asset value (NAV) fell 5% in the quarter to 31 March 2020 as the covid-19 pandemic hit the value of its portfolio. The unaudited NAV per share was 124.3p compared to a NAV of 130.9p per share at the end of December 2019. The NAV is based on the external […]
Picton Property will review the level of its dividend due to the covid-19 pandemic. The company has collected 71% of rents due for the current quarter, as at 7 April 2020. Short-term monthly payment plans have also been agreed with some tenants, which brings this figure to 80%. Picton, which owns a £665m diversified UK […]
Specialist regeneration developer and investor U and I Group has suspended its dividend and is not proposing any dividend for full year 2020. The company said it would preserve £4.4m of cash by not declaring a final dividend. The group’s development timelines have been massively impacted by closures during the covid-19 pandemic. It now expects […]
German business park owner Sirius Real Estate has provided a covid-19 update in which it said it had collected 75% of rent for the month of April. The figure, as at 9 April 2020, represented around 90% of the normal working pattern, the company said. A small number of its tenants are facing covid-19 related […]
As another week of lockdown comes to an end, property companies continue to update the market on the impact on their businesses. The latest slew of rent collection updates reveal that it isn’t just the retail, leisure and hospitality sectors that have been hit. Almost all companies have seen an impact on income (apart from […]
Town Centre Securities (TCS) has provided an update on the impact of covid-19, stating it has collected 71% of its rent for the quarter. For the rent quarters commencing 25 March and 1 April, TCS billed £4.9m of rent and service charge. As at 8 April 2020 it collected £3.5m or 71%, with a further […]
Warehouse REIT has committed to paying its 2020 dividend target. The group paid its third quarter dividend of 1.6p per share on 31 March 2020 and added that it remained committed to meeting its dividend target for the financial year to 31 March 2020 of 6.2p per share. As at 7 April 2020, it collected […]
