Over the year to the end of October 2013 HDIV’s net asset value increased from 83.3p to 87.9p ( a total return, including income, of 12.0%). The dividend rose slightly from 5p to 5.05p but the Board have said that quarterly dividends will be 1.25p for the current financial year (i.e. back to 5p again). […]
McKay Securities has bought a 51,500sq ft office and retail building, 1 Crown, Place Woking for £6m – equivalent to an initial yield of 9.3% (an average rent of £11.60 per sq ft).
Majedie has appointed Majedie Asset Management as its sole investment manager and has decide to close its hedge fund business, Javelin Capital and redeem its £29.5m investment in Javelin Capital Emerging Markets Alpha Fund. Majedie Asset Management will purchase 10% of its share capital from Majedie Investments – reducing the fund’s interest in the asset management […]
The financial year to the end of September 2013 was transformative for Henderson Value Trust as, following a period of disappointing investment performance, the management contract moved from SVM Asset Management to Henderson Global Investors and the fund changed its name (from SVM Global). Over the year the fund’s NAV rose by 4.3%, well behind the increase in its benchmark, […]
On 9 January 2014 Schroder Real Estate raised £17.2m by issuing 35.6m new shares at 48.25p. The money has been used to buy the Arndale Centre in Headingley, near Leeds, for £16.2m. They bought the centre from the receivers. The Arndale Centre is a 125,834 sq ft retail, leisure and office estate. At the moment […]
Hammerson is acquiring a 75% stake in Saint Sebastien shopping centre in Nancy, France for £109m, equivalent to an initial yield of 6%. Recent rent deals have been agreed at a 10% uplift. Hammerson hopes to create significant value by renovating the centre, introducing a dedicated restaurant area and refreshing the tenant mix. The centre, in central […]
The Board has negotiated a reduction in the annual management fee from 1.5% of net assets to 1.25% of net assets. The change took effect on 1 January 2014.
Derwent London has bought 22 Kingsway WC2, an eight storey, 91,400 sq ft freehold office building let to Kings College London and the 44,000 sq ft Peacock Theatre (let to the London School of Economics for just £1 per annum until 2054). The price was £59.3m (after costs), equivalent to a yield of 5.1%.
Hansteen has announced the sale of 27 assets (11 industrial estates in the South West of the UK and a further 16 individual assets) over the course of Q4 2013 for a total consideration of £76.4m. Hansteen made £4.2m profit on the sales which included the disposal of Horndon Industrial Park in Essex, the Malthouse Estate […]
After a successful year in 2013 with no significant insured losses and with 2014’s investments already made, CATCo is proposing to distribute the 20 cents per share it earned last year to shareholders. This distribution comes in addition to CATCo’s annual LIBOR +5% distribution (expected to be declared on 6 January 2014). The mechanism for achieving the […]
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