Covid-19 has obliterated the property market with tenants across all sectors struggling with cash flow problems as various measures to restrict the spread of the disease have been stepped up in most countries. This has had a devastating effect on the rental income of property companies, which have in some cases received as little as […]
Alternative Income REIT (AIRE) has committed to paying a quarterly dividend for its financial year ending 30 June 2020. The group (previously named AEW UK Long Lease REIT – AEWL), which owns a diversified portfolio of 19 UK commercial property assets let on long leases, said it expected to continue paying a quarterly dividend but warned a prolonged […]
Globalworth Real Estate, which owns a portfolio of predominantly offices in Poland and Romania, has provided a covid-19 update. The group said its office assets in the two countries, which have both adopted measures similar to those seen in the UK, has yet to see a significant impact. It added, it was in discussions with several […]
Standard Life Investments Property Income Trust (SLI) has provided a covid-19 update in which it has reaffirmed its first quarter dividend. The company, which owns a diverse portfolio of UK property heavily weighted towards the industrial sector, confirmed that it intends to pay a quarterly dividend of 1.19p per share, in respect of the three month […]
Unite Students, the student accommodation owner has said it expects a 16%-20% reduction in income for the 2019/20 academic year. The group has received rent cancellation requests for the summer semester of 2019/20 and expects to forgo rent on around 43,000-46,000 beds representing around 62-65% of all owned and managed beds. Remaining beds are accounted for by […]
UK industrial specialist Stenprop has provided an update on rent collection during the covid-19 pandemic. The company, which is in the process of converting its portfolio to be fully focused on UK multi-let industrial assets, said it had received 73% of rents, as at 15 April 2020, for the current quarter and the month of […]
Retail property landlords have called on the government to implement a rental support scheme as the covid-19 induced lockdown continues to hit income. Groups including British Land and Land Securities have teamed up with some of the biggest UK retailers to write to chancellor Rishi Sunak with their concerns, the FT reported today. They want […]
We got the first real insight into the impact covid-19 is having on property valuations this week, with both Picton Property and BMO Commercial Property Trust announcing portfolio values for the quarter to 31 March 2020. BMO’s portfolio fell in value by 3.8% over the course of the period, while Picton’s was at a much […]
Helical has sold a central London office building for £48.5m and a net initial yield of 3.92%. The sale of 90 Bartholomew Close, Barts Square, EC1, which was made by Helical and its joint venture partner The Baupost Group, is a fillip for the property market during a period of few investment transactions due to […]
Several property companies have updated the market on the impact of covid-19 on their business, as the lockdown in the UK is extended. Schroder REIT Schroder REIT has drawn its revolving credit facility (RCF) with Royal Bank of Scotland International in full, totalling £52.5m, to boost its cash reserves. Following the drawdown, the company has […]
