Capital & Counties Properties PLC has acquired the freehold interest of Tower House, 10 Southampton Street, Covent Garden, from Derwent London PLC for GBP67.5m before purchaser’s costs. The property is a substantial corner building located at the junction of Southampton Street and Tavistock Street with views towards the Piazza. The multi-let building produces an annual rental […]
The Board of Schroder European Real Estate Investment Trust has announced the exchange of contracts for the purchase of a EUR30.1 million office property located in Saint Cloud, Paris, reflecting a net initial yield of 9.5%. The asset is fully income producing and comprises part of an established office complex in Saint Cloud, a densely […]
Livermore Investments Group Limited has announced that it has sold its subsidiary Livermore Investments AG, which holds the Wyler Park property located in Bern, Switzerland, for net proceeds of CHF 57.8m on 28 October 2016. LIV : Livermore sells Wyler Park Bern
Redefine International has announced its results for the year ended 31 August 2016. Its EPRA NAV per share fell to 40.0p (2015: 41.0p), a decrease of 2.4%, incorporating a one-off impact of AUK portfolio acquisition costs and a 1.0% increase in UK Stamp Duty Land Tax. Earnings per share were flat at 3.2p and they are […]
Sale of intu Bromley intu properties plc has exchanged contracts to sell its 63.525 per cent stake in intu Bromley to Alaska Permanent Fund Corporation (‘APFC’) for GBP177.9 million, representing a premium to its 30 June 2016 valuation of GBP175.9 million. The topped-up net initial yield based on market value at 30 June 2016 was […]
Target Healthcare REIT Limited has completed the acquisition of a purpose built care home in Tonbridge, Kent. They paid approximately GBP12.2 million for the property, including acquisition costs. Target Healthcare had previously entered into a forward commitment to acquire this property. This is a purpose built home which was completed in early October 2016. It has 101 bedrooms […]
Ahmet Sinan Kalpakçıoğlu (born in 1961) has been indicted for aggravated theft of money from two group companies while serving as The Ottoman Fund’s CFO in Turkey. If convicted, Kalpakçıoğlu faces in excess of twelve years’ imprisonment and fines. On 19 October the Istanbul 8th Criminal Court of First Instance accepted the indictment and set a […]
MedicX has contracted to acquire, by way of forward funding, a new primary healthcare medical centre in Brynmawr, South Wales. The property is due to be completed in November 2017. The acquisition is being made under the framework agreement with General Practice Investment Corporation (“GPI”) which was agreed in May 2013. The completed development will […]
Picton Property Income has published an update following the repayment of all its 7.25% zero dividend preference shares and revolving credit facility, together with asset disposals announced in August and October: GBP45 million of NAV accretive disposals, reducing central London office exposure. Repayment of GBP15.8 million previously drawn under a revolving credit facility. Repayment of GBP29.1 million […]
UK Commercial Property Trust faces a continuation vote as it has been trading on too wide a discount. Continuation votes triggered by the fund’s discount trading at wider than 5% for 90 days were built into the structure of the fund. The vote was triggered on 11 October 2016 and the meeting will be held […]
