Picton Property reported a rise in the value of its portfolio of 1.4% in full year results to the end of March 2020. The company’s portfolio was valued at £665m, down from £685m in March 2019 after two asset disposals, but up 1.4% on a like-for-like basis. The valuation increase is in despite of material […]
The debate around the future of retail has been raging for some time, but the fire has been stoked further by the covid-19 enforced shutdown. Consensus has always been that there is too much retail property in the UK, mainly in high streets and shopping centres. NewRiver REIT this week gave some indication to the […]
The PRS REIT has now declared a dividend for the first quarter of this year, having seen the private rented sector (PRS) perform resiliently during the covid-19 pandemic. The company, which invests in new-build family homes in the PRS, will pay an interim dividend of 1.0p for the period 1 January to 31 March 2020, which […]
NewRiver REIT has said it will look to sell assets after reporting a 23% fall in net asset value (NAV) for the year to 31 March 2020. The company, which owns a portfolio of retail and pub assets, saw its EPRA NAV plummet to 201p per share from 261p last year. The fall was driven […]
Warehouse REIT has made a series of lettings across its portfolio worth £1.9m in annual rent, reflecting the continued strength of the logistics sector. The group said it had completed or was under offer on 43 lettings and lease renewals since 1 April 2020. They cover 277,000 sq ft of space and will generate an […]
Tritax Big Box REIT has pre-let a 2.3m sq ft logistics scheme in east London to Amazon. The company received planning consent last week for the building in Littlebrook, Dartford and announced today it has exchanged contracts with the world leading online retailer. The scheme, which covers 35.5 acres adjacent to the QEII bridge and Dartford […]
There is no doubt that the biggest news story in the property sector this week was SEGRO’s whopping £680m equity raise. The over-subscribed placing, that will be used to fund development opportunities in the booming logistics sector, put an exclamation mark on the severe disconnection that is in play between the different property sectors. If […]
Stenprop, the UK multi-let industrial (MLI) landlord, has reported a 2.8% uplift in the value of its property portfolio. The company, which is in the process of transitioning its portfolio to be fully focused on the MLI sector, said its portfolio was valued at £532.6m in full year results to 31 March 2020. This was […]
Logistics landlord SEGRO has raised £680m in a share placing “to take advantage of ecommerce trends that are accelerating as a result of the covid-19 pandemic”. A total of almost 83 million shares were placed at a price of 820 pence, representing a discount of 4.5% to the closing price on 9 June 2020. The share […]
Shaftesbury has posted a 7.9% drop in the value of its West End portfolio in half-year results as the impact of the covid-19 lockdown bites. The company’s portfolio was valued at £3.5bn at 31 March 2019. The fall in value of the portfolio resulted in a 10.6% drop in net asset value (NAV) to 878p […]
