Office developer Helical has placed its dividend distribution under review during the coronavirus pandemic. The group said it collected 84% of the £6.7m total rent due in the first quarter of 2020, with 9% more to be paid in instalments over the next three months. It also collected 90% of its service charge payments in […]
Empiric Student Property has suspended payment of its dividend to cover an expected hit on income due to the coronavirus pandemic. The group said in a worst case scenario it could lose up to £21m of revenue this academic year, as it allows students to exit their rental agreements early due to the enforced lockdown. […]
Regional REIT has confirmed that its dividend for Q4 2019 will be paid to shareholders. The group, which owns a portfolio of predominantly office properties in regional locations in the UK, will pay shareholders 2.55 pence per share on the 9 April 2020. In a trading update, the company said it had collected most of […]
Retail landlord Hammerson collected just 37% of its rent in the latest quarter but has vowed to help retailers through the covid-19 pandemic. The group, which owns shopping centres in the UK and France as well as outlet centres across Europe, has also suspended its final dividend of 14.8p per share in order to preserve […]
The extent of the disruption caused by the covid-19 pandemic is starting to really bite for property landlords. Unsurprisingly, the retail sector (including leisure and food and beverage) is being hardest hit due to the enforced shutdown of all non-essential shops. A host of big named retailers, such as Primark and Burger King, have said […]
U and I Group, the specialist regeneration developer and investor, has sold three retail assets for a combined £22.4m. It has sold Crown Glass Shopping Centre in Nailsea for £11.15m; two units at The Killingworth Centre in Newcastle for £7.5m; and 89-107 Queen Street in Cardiff for £3.75m. The combined assets were sold marginally below their […]
GCP Student Living has said it intends to pay its third interim dividend but expects “materially reduced revenues” for the final term of the current academic year. The UK REIT said it has received around 74% of all budgeted revenues due to it this academic year but added that the closure of universities due to […]
British Land has suspended its dividend payments and said it was offering smaller shopping centre tenants a three-month rental holiday due to covid-19. The group said larger retailers and leisure tenants would be able to spread payments over the six quarters from September 2020. The company, which owns and develops office and retail property, said […]
Impact Healthcare REIT, which owns a portfolio of care homes in the UK, has provided a covid-19 business update. The group said the number of occupied beds in its portfolio has been stable, with 3,848 beds occupied on 3 January 2020, and 3,886 beds occupied on 20 March 2020. It added that a number of the group’s […]
Self-storage giant Big Yellow Group (BYG) has reported a drop-off in occupancy as a result of covid-19. The company said current like-for-like occupancy across its portfolio is 81.6% across 56,000 customers. In half-year results to the end of September 2019, like-for-like occupancy was 84.1%. The group said it had seen an increase in demand from […]
