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 […]
LondonMetric has made a host of lettings totalling 213,000 sq ft across its portfolio. The company has let a 141,000 sq ft distribution unit at its Stoke development to Pets At Home, at a rent of £6 per sq ft or £0.8m per annum. At Birmingham, the company has let a 38,000 sq ft unit […]
LondonMetric has reported a dip in net asset value (NAV) following the £455m acquisition of A&J Mucklow last year. The group, which owns a portfolio of logistics assets, said EPRA NAV at 31 March 2020 was 171.7p per share (March 2019: 174.9p). The fall was mainly due to the Mucklow acquisition, which accounted for 2.5p. […]
Schroder Real Estate Investment Trust has reported a fall in net asset value (NAV) of 13.1% in the year to the end of March 2020. The group, which owns a diverse portfolio of property across the UK, posted a NAV per share of 59.7p (March 2019: 68.7p). The decrease reflects an 11.8% drop in the […]
McKay Securities has reported a slight increase in net asset value (NAV) of 0.9% in full year results. The company, which owns office, industrial and logistics property in the South East of England, posted an EPRA NAV of 329p per share at 31 March 2020 (March 2019: 326p). Its portfolio was valued at £510m, up […]
Self-storage specialist Big Yellow Group has posted a 3.1% rise in revenue for the year to the end of March 2020. The group, which has remained operational during the covid-19 pandemic, reported revenue of £129.3m in the year (2019: £125.4m). The increase was mainly due to a 2.7% year-on-year rise in its average rent. Occupancy, […]
The subject of turnover rents resurfaced this week with reports that high street fashion chain New Look was in crunch talks with landlords about restructuring its leases to turnover-based rents. The proposals reflect a fast-growing trend in the retail sector, but how do they work and what does it mean for landlords? Turnover rents link […]
London office developer Helical has seen the value of its portfolio jump 5.9% in the year to 31 March 2020. Despite the uncertainty caused by covid-19, the group’s property portfolio has increased in value to £949.3m on a see-through basis. This has resulted in its EPRA net asset value (NAV) increasing 6.0% during the year to […]
Travelodge has today launched a CVA that will allow it to temporarily slash rents. The launch of the CVA (company voluntary arrangement – an insolvency process used by businesses to shed unprofitable leases and cut rents) follows an ongoing dispute between the budget hotel operator and some of its landlords. Unlike most CVAs, Travelodge will not […]
Grit Real Estate Income Group, the pan-African income real estate company, has revised its dividend guidance for the year due to covid-19. The company, which owns 47 assets across Africa that are predominantly US dollar or euro denominated long-term leases, is targeting a full-year dividend of at least US$8.75 cents per share (cps), which equates to […]
