London developer Helical has sold an office campus in Chiswick for £41.58m, as part of its strategy to dispose of non-core assets. It has sold Power Road Studios to a private UK investment manager at a net initial yield of 4.8%. The campus provides 57,164 sq ft of workspace set across four studio buildings. It is […]
Intu has agreed terms to amend and extend one its loans, conditional on it raising £1.3bn of equity. The revised four-year £440m revolving credit facility will replace intu’s existing £600m facility that is due to expire in October 2021. The revised facility will be provided by all seven of the existing banks who participate in […]
US private equity giant Blackstone has backed the UK student property sector with the £4.7bn acquisition of a student accommodation company. It has agreed a deal to buy IQ Student Accommodation from Goldman Sachs and Wellcome Trust, in a deal that is said to be the UK’s largest-ever private real estate transaction. IQ owns and […]
Capital & Regional, the shopping centre REIT, has appointed David Hunter as non-executive chairman. Hunter, who is also chairman at Custodian REIT, will take up the post at the conclusion of the group’s 2020 Annual General Meeting on 20 May 2020. He will initially join the board as a non-executive director from 9 March 2020. […]
AEW UK Long Lease REIT has reported a slight dip in its net asset value (NAV) in half-year results to the end of December 2019. The company, which yesterday announced a host of service provider changes, posted a NAV per share of 94.63p for the six months, down from 94.81p at the end of June […]
AEW UK Long Lease REIT (AEWL) has appointed a new investment adviser following a strategic review. Its current investment management agreement with AEW UK Investment Management will be terminated on 9 April 2020 and will be replaced with an agreement with Mason Owen and Partners. Mason Owen will have prime responsibility for the group’s property […]
Pollen Street Secured Lending (PSSL) is in talks with Waterfall Asset Management over a £675m takeover. PSSL has also announced it has axed its investment management agreement due to governance issues. The possible cash offer for PSSL, which invests in corporate loans and peer-to-peer debt, is at 900 pence per share, representing an 8.7% premium […]
Central London office developer Derwent London reported a 4.8% jump in net asset value (NAV) in impressive full year results. The group’s EPRA NAV per share was 3,958p at the end of December, up from 3,776p a year earlier. Net rental income rose 10.5% to £178m, and the London office landlord and developer produced a […]
Hammerson will cut its dividend for 2020 by almost half to a “sustainable level” as retailer failings continues to impact its business. In full year results, the group said it is expecting the dividend for 2020 to be cut by 46%, from 25.9p in 2019 to 14p. At the end of December, net asset value […]
Estate agent Countrywide is in talks over a possible all-share merger with LSL Property Services, the company has confirmed. The £500m tie-up would bring together two of Britain’s biggest listed estate agents. LSL Property owns Your Move and Marsh & Parsons while Countrywide’s brands include Hamptons International and Gascoigne-Pees. News of the possible merger broke […]
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