Two big retail landlords, Hammerson and British Land, have revealed rent collection levels of just 16% and 36% for the quarter June to September 2020. Rent collection for the quarter, which is paid in advance, fell due on 25 June and the two group’s today revealed just how bad the figures are for the retail […]
Aberdeen Standard European Logistics Income (ASLI) has reaffirmed its dividend policy in a company update. The group said it intends to pay its quarterly dividend for the second quarter in line with its policy after higher than expected rent collection figures. It collected 85% of rental income that was due in Q2, ahead of its […]
Intu Properties, the biggest shopping centre owner in the UK, plunged into administration today after last ditch rescue talks with creditors collapsed. The writing had been on the wall for months, if not years, for Intu but the covid-19 pandemic finally pushed it over the edge. But what does Intu’s collapse mean for the wider […]
Empiric Student Property, the owner and operator of student accommodation across the UK, has appointed a new chief executive. It has hired Ten Entertainment Group’s current chief executive Duncan Garrood to the role. As well as Ten Entertainment Group, which is the UK’s second largest operator of family entertainment centres, Garrood has also held the […]
Shopping centre owner Intu is set to call in administrators after last gasp rescue talks with creditors collapsed. In a statement to the London Stock Exchange this morning the group said there had been “insufficient alignment and agreement” on standstill agreements with creditors. The group added: “The board is therefore considering the position of Intu […]
Student accommodation specialist Unite has raised £300m in an equity raise. A total of 34,482,759 new ordinary shares were placed at a price of 870 pence per share, representing a discount of 3.1% to the closing price on 24 June 2020 of 897.5 pence. Concurrently with the placing, certain directors of the company subscribed for an aggregate of […]
Harworth Group has acquired a Midlands industrial estate for £10.1m. The property developer and investor said the buy was in line with its strategy to grow its recurring income base through the acquisition of high yielding assets with further asset management potential. It has bought the estate, located close to both Dudley and Stourbridge town centres […]
LondonMetric Property has acquired five Waitrose supermarkets and an urban logistics facility let to Ocado for a total of £72.9m. It has purchased the supermarkets from Waitrose in a sale-and-leaseback deal for £62m. Waitrose has signed new 20-year leases linked to CPIH. They are located in Keynsham, Malmesbury, Paddock Wood, Towcester and Yateley and range in […]
St Modwen Properties has revealed positive trading performance in its logistics portfolio during lockdown. The company, which is focused on developments in the logistics and residential property sectors, said leasing activity during lockdown had been strong. Of its completed logistics developments 74% are now let or under offer, compared to 58% in February 2020, while […]
Schroder European REIT (SERE) halves quarterly dividend due to uncertainty caused by covid-19. The group declared a quarterly dividend of 0.925 euro cents for the period 1 January to 31 March 2020, which equates to 50% of its target dividend level. It brings total dividends declared for the six months to 31 March 2020 to […]
