Primary Health Properties (PHP), one of the UK’s leading investors in healthcare facilities, will provide development funding for the construction of a purpose built medical centre in Eastbourne, East Sussex for a total cost of £8.4m. The facility, which will be wholly owned by PHP upon its completion, will be used by two merged GP practices […]
Urban & Civic saw its EPRA net asset value (NAV) jump 9.6% in full year results after successfully progressing residential sites through the planning system. EPRA NAV rose from £481.2m a year ago to £527.5m with the revaluation of its Waterbeach site, where the company gained outline consent for 6,500 homes earlier this year, contributing £24.6m […]
St Modwen has sold a chunk of its non-core retail portfolio for a total of £34m, as it continues to shift its focus to the industrial sector. The sales, in Doncaster, Crosby and Kirkby, were sold at a discount of 9% compared to the May 2019 book value of the three assets. The disposals follow […]
LondonMetric has reported a 16.6% uplift in net rental income to £54.9m in half year results following the acquisition of A&J Mucklow in the period. The company, which saw net asset value (NAV) remain flat at 174.9p per share, said the acquisition has significantly increased its portfolio weighting to the urban logistics sub-sector that has […]
Palace Capital, which owns a diverse portfolio of property in the UK regions, has reported a drop in net asset value (NAV) per share of 3.9% during the six months to the end of September. NAV per share fell to 391p during the period, compared to 407p at the end of March, while profit after […]
Capital & Counties has exchanged contracts for the sale of its interests in Earls Court, excluding Lillie Square, to APG and Delancey for £425m. The price is significantly short of the balance sheet value at 30 June 2019 of £508m. Payments will be made to Capital & Counties on a phased basis, with 45% payable […]
McKay Securities, the London and South East focused REIT, has reported a 20.8% jump in gross rental income to £12.61m in half-year results. The company said the increase was due to several lettings secured on development projects. It contributed to a rise in EPRA net asset value (NAV) in the six months to the end […]
Central London office developer Great Portland Estates announced earnings per share growth of 17.8% to 10.6p in strong half-year results. The company also revealed net asset value (NAV) growth of 1.8% to 868p per share, for the six months to the end of September. It posted portfolio valuation growth of 0.8%, rental growth of 1.0% (+1.4% offices, […]
Regional REIT announced it has grown its annual rental income by £2.2m so far this year through new leasing deals, during a third quarter trading update. The company, which is focused on building a diverse portfolio of income producing regional UK core and core plus office and industrial property assets, exchanged on 50 leases to new […]
Safestore, the self-storage specialist that has a portfolio in the UK and Paris, reported a 5.5% increase in revenues in a fourth quarter trading update. The company’s revenues for the full year to the end of October increased to £151.8m, from £143.9m last year. Occupancy across its portfolio, which comprises 122 sites in the UK […]
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