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 […]
Student accommodation provider Empiric Student Property said it had so far not seen a “negative impact on reservations from international students for the 2020/21 academic year” as a result of the Covid-19 pandemic. In full year results for 2019, the group said as of today, bookings for the 2020/21 academic year were “very much in […]
Warehouse REIT, the UK REIT that invests in and manages urban and ‘last-mile’ industrial warehouse assets in the UK, has suspended its fund raise amid the current market uncertainty caused by Covid-19. The company announced on 17 February that it intended to raise up to £100m through a placing, with a general meeting arranged for […]
Real Estate Investors, the REIT focused on the Midlands, saw revenues increase 6.4% in 2019. The company reported revenue of £16.6m in full year results, up from £15.6m in 2018. Underlying profit before tax was also up, by 11.1%, to £8.0m. The group’s portfolio, which is valued at £228.9m, produces an annualised rental income of […]
Tritax Big Box REIT reported a 7.7% increase in operating profit in 2019. The group, which owns a portfolio of ‘big box’ logistics warehouses in the UK, said profit for the year ended 31 December 2019 was £122.5m compared to £113.7m in 2018. It also said its contracted annual rent roll was up 3.4% to […]
Estate agency group LSL Property Services has pulled out of negotiations to buy fellow estate agent Countrywide. It was announced last month that the two companies were in discussions about an all-share merger, but LSL today said talks were off. The £500m tie-up would have brought together two of Britain’s biggest listed estate agents. LSL […]
Secure Income REIT reported a 7.6% increase in net asset value (NAV) in 2019. The group, which owns a £2.1bn portfolio of long-let property, said NAV per share grew to 431.1p in 2019 as the like-for-like value of the company’s portfolio rose by 4%. The growth helped Secure Income REIT deliver a total shareholder return […]
Intu Properties has warned it could go under after reporting a £2bn loss in 2019. The shopping centre owner said the spate of retailer failings had resulted in the value of its properties falling almost £2bn (or 22.3%) to £6.6bn. Intu’s debt totals £4.5bn, giving it an unhealthily high loan-to-value ratio of 67.8%. Chief executive […]
