The Board of Perpetual Income and Growth Investment Trust has announced a change to its management fee. It is removing its performance-based fee and making an adjustment to the calculation of the base fee. With effect from 1 April 2017, the annual management fee will be calculated at an annual rate of 0.6% per annum on the first £900m […]
LXi REIT has exchanged contracts to provide forward funding for the development of a new Travelodge hotel, drive-through Starbucks coffee shop and drive-through Subway restaurant in Swindon, Wiltshire. The cost to LXi is GBP8.28 million, reflecting a net initial yield of 5.8% on the net cost. When complete (target June 2018) the new development will comprise: a 70 […]
Oakley Capital Investments says that Oakley Capital Private Equity III (“Fund III”) has agreed to acquire the business and operations of ZGS Verwaltungs GmbH (“Schuelerhilfe”), from its current majority shareholders Deutsche Beteiligungs AG (DBAG) and DBAG Fund V, a fund managed by DBAG. Schuelerhilfe is the leading provider of after school tutoring to primary and secondary […]
New River REIT paying a special dividend as earnings rise by 16%: Over the year to the end of March 2017, Recent Factsheet EPRA NAV slipped by 1% to 292p. The second half of their accounting year was better for them than the first. EPRA earnings per share were 23.6p – up 16% on last year’s […]
Land Securities has acquired a portfolio of three outlet centres from Hermes Investment Management for GBP332.5 million, generating annualised net rental income of GBP21.6 million. The acquisition follows the recent disposals of The Printworks in Manchester and The Cornerhouse in Nottingham and is in line with the company’s strategy of recycling capital into family focused retail […]
Custodian REIT has acquired three units within the 33,270 sq ft Coypool retail park in Plymouth, near the town centre and adjacent to the A38 Devon Expressway. The units are occupied by Oak Furniture Land, SCS and McDonald’s, with nearby retailers including Bensons for Beds, B&M, Harveys Furniture, Next Home and DFS. The units’ leases […]
Phaunos Timber Fund says it thinks it is well positioned to benefit from the Trump administration’s imposition of new anti-subsidy tariffs on Canadian sawtimber. The move escalates a long-running trade dispute between the two countries, which is based on claims by US producers that their Canadian competitors are effectively subsidized. Their argument is that Canadian […]
Epiris has announced that its portfolio company AXIO Group has agreed the sale of TechInsights, a leading intellectual property and technology services provider, to Oakley Capital. The sale, which is expected to complete in the next two weeks, is the seventh and final major realisation from AXIO’s portfolio and will conclude what has been an […]
Custodian REIT has acquired a 27,480 sq ft car dealership, located within York’s ‘motor alley’ two miles from York city centre and adjacent to the A1237 ring road. Nearby occupiers include Vauxhall, Audi, BMW, Mercedes-Benz, Toyota and Volkswagen. The property is let to Pendragon Property Holdings Limited (trading as Evans Halshaw Peugeot and Citroen) on […]
In what seems like record time (less than six weeks) , 3i Infrastructure has today published its results for the year ended 31 March 2017. The chairman says that the company has had a strong year, completing six new investments totaling GBP479 million, executing a successful capital raise and delivering their target dividend of 7.55 pence per share for […]
