British Land has announced results for the year ended 31 March 2017. It says that its EPRA NAV fell very slightly, by 0.4% to 915p. Underlying profit rose by 7.4% to GBP390 million (2015/16: GBP363 million) and, on the back of this, diluted underlying earnings per share were up 10.9% to 37.8p. They are paying […]
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 […]
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 […]
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 […]
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 […]
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 […]
Drum Income Plus Real Estate Investment Trust has acquired Kew Retail Park in Southport for GBP8.65 million. The 53,858 square foot investment is currently occupied by Poundstretcher, Carpetright, Wickes, Carphone Warehouse, Dreams and Sofology. The purchase price reflects an acquisition yield of 8.78% and bolsters DRIP REIT’s presence in the North West, where it already has […]
AEW UK REIT has announced the acquisition of industrial assets in Basildon, Essex and Runcorn, Cheshire, for a total of c GBP2.6 million. Basildon comprises a 33,000 sq ft single-let industrial building located on the established Pipps Hill Industrial Estate, just off the A127, approximately five miles from Junction 29 of the M25. The purchase […]
Civitas Social Housing REIT has completed the purchase of two portfolios of regulated social housing for a total consideration of GBP19.3 million, comprising the freehold interest in 19 supported living properties, with 98 tenancies. The portfolios are immediately income generating with initial net yields in line with the company’s expectations and both were sourced off-market by […]
The Board of LXi REIT has exchanged contracts to provide forward funding for the development of a new discount retail park in Bradford, Yorkshire, pre-let to Aldi and T. J. Morris Limited (trading as Home Bargains). The development represents an investment of GBP10 million, reflecting a blended net initial yield of 6.15% on the asset […]
