LXB’s sale of its Sainsbury’s and M&S investments at Greenwich has completed as planned, releasing £58m of sales proceeds. LXB’s Board plans to return “a substantial proportion” of this money to shareholders by buying in shares. At last night’s close LXB’s market capitalisation was just over £250m; what proportion of the company’s share capital will […]
Hammerson, as part of a 50:50 jv with Aviva, are selling Queensgate Shopping Centre in Peterborough for £202m, equivalent to a yield of 6.4%. Hammerson says it is planning to put the money towards its development and refurbishment programme for 2014 and says it is also considering selective acquisitions.
PHP is funding (for £3.1m) the construction of a medical centre in Nottingham to be completed in 2015
LMP has announced it is buying Royal Mail’s distribution centre in Daventry for £36m (on a yield of 6.7%) and selling a retail park in Congleton for £16.4m (the sale price equates to a yield of 5.8%, the park was acquired in Jun 2011 for £14.9m). After these transactions, LMP’s portfolio has 23%invested in distribution assets. […]
New City’s annual results for the year ended 30 September 2013 show a fall in the NAV of 19.2% and in the share price of 6.5%. The performance is attributed to falling commodity prices (on fears of slowing Chinese growth) and the strength of Sterling over the period. the Board has negotiated a reduction in the […]
JLIF has completed its acquisition of a 75% stake in the North Staffordshire Hospital project
Over the year ended 30 September 2013 the NAV fell by 13.7%, slightly more than the fall in the value of the benchmark, the , which fell by 12.7%. JII’s discount widened resulting in a share price return of -17.6%. The managers point to overweights, relative to the benchmark, in Infrastructure Finance Development Corporation and cement […]
Candover has extended the maturity on its US$ debt with an issue of new notes with a coupon of 7.02% and a maturity of 31 December 2015. The Board felt it wanted to wanted to protect the fund from any potential shortfall if the current investment disposal programme failed to free up sufficient cash to […]
BRIG’s results for the year ended 31 October 2013 show an NAV return of 16.2% and a share price return of 24.3% as compared to a return from the FTSE All-Share Index of 22.8%. BRIG’s total dividend for the year has been increased to 5.5p (from 5.25p) and is now fully covered by revenue. It […]
The six months to 31st October 2013 was not a good one for JP Morgan Brazil as the NAV and share price fell by more than the fund’s benchmark index. Over the period the NAV return was -16.6%, the share price return -15% and the MSCI 10/40 Brazil index fell by 9.3% in Sterling terms (3.5% […]
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