LondonMetric Property has made two acquisitions totalling £11.6m following its £120m equity raise last month. The company has bought five roadside service centres in a sale-and-leaseback deal with Kwik Fit. The assets were bought for £9.6m and are located in Barnet, Whetstone, Hounslow, Hammersmith and Slough. LondonMetric said each had a strong underlying residual value supported by […]
Town Centre Securities (TCS) has announced it will pay an interim dividend for the six months to the end of December 2019, but has put future payments under review. The company, which owns a portfolio of retail, leisure and car parks, has said it will pay the previously announced 3.25p dividend in June, but its final […]
Warehouse REIT is considering an equity fundraise to capitalise on a pipeline of acquisitions as its portfolio proves resilient against covid-19. The group said it was engaging with existing and potential new investors ahead of a potential equity raise, after aborting a fundraise in March as the pandemic took hold. However, the company said it was well placed […]
German business parks owner Sirius Real Estate posted an 8.9% increase in net asset value (NAV) in the year to the end of March 2020. The company said NAV per share increased to 77.35 euro cents (2019: 71.01c), with EPRA NAV per share of 80.62 euro cents (2019: 74.82c). The increase in NAV reflects a like-for-like […]
Capital & Counties has agreed to acquire a 26.3% shareholding in rival West End landlord Shaftesbury for £436m. The group will pay 540p per share for the 80.7 million shares from Hong Kong billionaire Samuel Tak Lee. It represents a discount of 13.9% to the closing Shaftesbury share price on 29 May 2020. The price is […]
Capital & Counties this week confirmed it was in talks to buy a 26.3% stake in rival West End landlord Shaftesbury in what would be the first steps in a long-mooted merger of the two groups. Capco, which owns huge swathes of Covent Garden, is in discussions to buy Hong Kong billionaire Samuel Tak Lee’s […]
Urban Logistics REIT saw the value of its portfolio rise 4.6% on a like-for-like basis in the year to the end of March, as the sub-sector continues to perform strongly despite the impact of covid-19. The company reported a flat net asset value (NAV), of 137.9p per share, taking into account a £136m fundraise in […]
West End property landlord Capital & Counties (Capco) is in talks to acquire a 26.3% stake in rival Shaftesbury, potentially paving the way for a multi-billion pound takeover. Capco, which owns a vast chunk of Covent Garden, confirmed it was in discussions to buy the stake from Hong Kong billionaire Samuel Tak Lee following a […]
British Land has reported a 10.1% drop in the value of its property property as the covid-19 pandemic takes its toll on the group’s retail portfolio. For the year ending 31 March 2020, British Land’s portfolio valuation plummeted by £1.2bn, from £12.3bn to £11.1bn. The FTSE 100 REIT said that the drop was driven by […]
Hammerson chief executive David Atkins has stepped down from the role. Atkins will remain in position until spring 2021 at the latest, while the board conducts a search for his successor, the company announced today. Hammerson, which owns a portfolio of shopping centres, retail parks and outlet centres across the UK and Europe, has suffered […]
