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 […]
Hammerson has exchanged contracts to sell a portfolio of seven retail parks for £400m, as it continues its bid to strengthen its balance sheet. The portfolio sale, which has been acquired by Orion European Real Estate Fund V, and the separate sales of two other retail parks in Swansea and Belfast totalling £55m, represents a discount […]
Regional REIT has announced it is considering an equity fundraise “to take advantage of its growing near term pipeline of accretive growth opportunities in the investment market”. The fundraise, the group said, would “further de-risk the portfolio by sector, region, and tenant type, whilst providing asset management potential”. Regional REIT’s portfolio has grown over the […]
Supermarket Income REIT has acquired a Sainsbury’s store in Hessle, East Riding of Yorkshire, for £34m, reflecting a net initial yield of 5.5%. The 50,000 sq ft store is let to Sainsbury’s on an unexpired lease term of 14 years with annual inflation-linked uplifts. As well as the 1980s-built supermarket, the site 13-acre site also […]
Warehouse REIT is weighing up an equity raise having identified a pipeline of acquisitions worth £352m. The AIM-listed company, which invests in and manages urban and ‘last-mile’ industrial warehouse assets, and its investment adviser Tilstone Partners is in exclusive negotiations to buy £72m worth of assets and is in detailed negotiations on a further £280m. […]
Urban Logistics REIT has raised £130m through an over-subscribed placing. The result of the placing was significantly in excess of the target size of £100m. A total of 94.5 million shares in the company have been conditionally placed with new and existing investors at 137.5 pence per share. Urban Logistics REIT executive directors Nigel Rich […]
The UK’s largest listed property company SEGRO reported an 8.9% uplift in its net asset value (NAV) for 2019, alongside a 10.1% jump in its dividend. In full-year results to the end of December 2019, the industrial property specialist revealed a NAV per share of 708p, up from 650p a year earlier. Meanwhile the full […]
