LondonMetric Property has announced the acquisitions of a regional distribution warehouse in Wakefield for £9.5 million and a last mile distribution warehouse in Dartford for £6.3 million; reflecting a blended NIY of 5.8% and a reversionary yield of 6.4%. At Wakefield, LondonMetric has acquired a well specified 120,000 sq ft regional warehouse located on a […]
Hammerson has announced its annual results for the year ended 31 December 2016. The company describes the period as being one of, “robust operational performance across all parts of the portfolio”. During the period, net rental income increased by 8.8% to £346.5m and adjusted net profit increased by 9.9% to £230.7m (IFRS profit fell by […]
SEGRO says its EPRA NAV per share up was 8.0 per cent to 500 pence over the course of 2016. They say this was driven by a 4.8 per cent like-for-like increase in the value of the portfolio, reflecting development gains, UK rental growth and asset management activities. The 4.8% increase comprises a 4.5 per […]
Alpha Real Trust holds 18.7% of the share capital of Industrial Multi Property Trust (IMPT), and also holds GBP10.3 million of unsecured subordinated debt (value as of 30 September 2016). The directors of Alpha Real Trust wish to inform shareholders that they have not been consulted regarding the offer for IMPT by Hansteen and believe it […]
McKay Securities PLC has exchanged contracts for the unconditional disposal of the freehold of its remaining interest at Pinehurst Park, in central Farnborough to Pinehurst Investments Ltd (a subsidiary of Shaviram Developments Ltd), for GBP5.88 million. The purchaser has paid a GBP1.00 million non-returnable deposit, and McKay will retain income through to completion on 28(th) […]
The boards of Hansteen and Industrial Multi-Property Trust (IMPT) have announced that have reached agreement on the terms of a recommended all cash offer for the entire issued ordinary share capital of IMPT by Hansteen. Under the terms of the offer, IMPT shareholders will receive 300p in cash for each IMPT share. This values the […]
Custodian REIT has sold a 22,286 sq ft public house on Palmerston Road, Southsea for GBP1.67 million, GBP0.19 million ahead of the 31 December 2016 valuation. The property is let to JD Wetherspoon plc on a lease expiring in 2040. The property was part of a portfolio acquired in August 2014. The Company intends to use […]
UK Commercial Property has completed the forward purchase of a pre-let 258,370 sq ft distribution warehouse development in Burton upon Trent for a total consideration of circa GBP22.2 million, reflecting a yield on capital of 5.8%. The transaction is in line with UKCPT’s strategy to focus its portfolio on assets that deliver a higher and […]
For the second half of 2016, A&J Mucklow has reported EPRA earnings per share up to 12.54p from 11.89p, an interim dividend up to 9.88p from 9.59p and an EPRA NAV per share up a little to 448p from 446p. They say that average rental increases on new lettings and lease renewals have been maintained […]
Picton Property Income has disposed of a non-core property in Drury Lane, Oldham, for GBP2.2 million, completing its business plan for the asset. The warehouse was purchased in April 2010 for GBP0.4 million with an annual rent of GBP74,000 as part of the acquisition of Rugby REIT. During Picton’s ownership, it secured planning consent to […]
