Intu Properties has said it expects to seek covenant waivers from its lenders as the impact of covid-19 hits its rental income. The group, which owns shopping centres in the UK and Spain, said it had received 29% of its rent for the second quarter when it fell due yesterday (25 March 2020). For the […]
St Modwen Properties has said it is in a strong position to handle the disruption caused by covid-19. The group has adjourned its AGM, scheduled for 27 March 2020, and therefore payment of its final dividend for 2019 of 5.1 pence per share, which was due to be paid on 3 April 2020, as this requires […]
Several property companies have updated the market on the impact of Covid-19 on their business. Here we have rounded up the latest. Yesterday we reported updates from NewRiver REIT, Schroder REIT and Civitas Social Housing. You can read them by clicking the links. QuotedData has also published a piece looking at the likely long-term impact […]
The coronavirus has had a big impact on markets around the world, but the longer-lasting effects have yet to be realised. We have seen people’s day-to-day lives change, from stock-piling essential goods to working from home. Technology has enabled these things to happen, things like home delivery and conferencing call facilities. One of the knock-on […]
Civitas Social Housing has acquired a portfolio of properties for £19.6m, bringing its run-rate dividend cover to 100%. The group has completed the purchase of five freehold properties comprising 63 tenancies for £17.8m and exchanged contracts on three further properties comprising 11 tenancies for £1.8m. The properties are located in Hertfordshire, Shropshire and Tyne and Wear, over […]
NewRiver REIT will not pay a fourth quarter dividend, it has announced, due to the coronavirus pandemic. The company, which owns a portfolio of community shopping centres, convenience stores and pubs, said it is focused on cash preservation and reducing operational costs during this uncertain time. The decision not to pay a fourth quarter dividend, will […]
Empiric Student Property’s chief executive Tim Attlee will step down from the role in June 2020. The company made the announcement alongside full year results today. It said Attlee would remain in the position until the end of June 2020 and the board would commence an immediate search for his successor. Attlee co-founded and helped […]
Student accommodation provider Empiric Student Property said it had so far not seen a “negative impact on reservations from international students for the 2020/21 academic year” as a result of the Covid-19 pandemic. In full year results for 2019, the group said as of today, bookings for the 2020/21 academic year were “very much in […]
Warehouse REIT, the UK REIT that invests in and manages urban and ‘last-mile’ industrial warehouse assets in the UK, has suspended its fund raise amid the current market uncertainty caused by Covid-19. The company announced on 17 February that it intended to raise up to £100m through a placing, with a general meeting arranged for […]
Real Estate Investors, the REIT focused on the Midlands, saw revenues increase 6.4% in 2019. The company reported revenue of £16.6m in full year results, up from £15.6m in 2018. Underlying profit before tax was also up, by 11.1%, to £8.0m. The group’s portfolio, which is valued at £228.9m, produces an annualised rental income of […]
