Triple Point report busy first six months – The managers of the social housing REIT, Triple Point Social Housing (SOHO) have not been resting on their laurels. They have acquired 116 properties (828 units) with average property value of £1.2 m and an aggregate purchase price of £131.8 m (including costs). The geographic split of the properties is […]
Hammerson reports well positioned portfolio and leasing driving performance – British property development and investment company Hammerson plc (HMSO) has reported that it has a 98.3% occupancy rate, which is a 17-year high. The achieved level of lettings in 2017 was the highest in the REIT‘s* 75 year history. This activity contributed to a 6.5% uplift in Earnings Per […]
Civitas Social Housing comments on First Priority Housing Association – Civitas Social Housing leases 45 properties to First Priority Housing Association. Regulator’s report The Regulator of Social Housing released a report last week that said: First Priority Housing Association Limited (4702) is a small Registered Provider of homes for a vulnerable client group, primarily adults […]
Flat 2017 for Intu despite Brexit worries – Intu has announced results for the year ended 31 December 2017. Highlights were NAV (adjusted and diluted) rising from 404p to 411p as the market value of their investment properties rose from £9,985m to £10,529m. Net rental income was up to £460m from £447m but underlying earnings per share were flat […]
Ground Rents fund reinstates its double or inflation offer – On 21 December, the Government announced new measures in response to its leasehold market consultation. It proposed to introduce legislation to prohibit new-build leasehold houses and to set future residential ground rents to zero. It is also to consider introducing a ‘prescribed formula’ that would […]
Primary Healthcare Properties delivers 10.5% NAV uplift – Primary Healthcare Properties (PHP) has published its results for the year ended 31 December 2017. Highlights were: EPRA earnings increased by 15.7% to GBP31.0m (2016: GBP26.8m) EPRA earnings per share increased by 8.3% to 5.2p (2016: 4.8p) Net rental income increased by 7.1% to GBP71.3m (2016: GBP66.6m) IFRS […]
Empiric buys Southampton’s Emily Davies Hall – Empiric Student Property has acquired the freehold of a 240 bed student accommodation property in Southampton, the Emily Davies Halls of Residence, for GBP10.6 million (excluding costs). The property comprises affordable student accommodation configured in three and four bed apartments with 65 commercially let car parking spaces. The […]
LXi fully invested again after social housing deal – LXi REIT has exchanged contracts on the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Colchester, Essex (74%), Birmingham (17%) and Dover, Kent (9%). The purchase price for this portfolio is GBP6.2 million, reflecting a net initial yield of […]
AEW UK REIT buys Wakefield business park – AEW UK REIT has announced the acquisition of Diamond Business Park in Wakefield for GBP4.2m. The 201,543 sq ft multi-let property has a Net Initial Yield of 11.5% and comprises an industrial and office element. On the industrial side, there are 13 units totalling 172,584 sq ft leased […]
British Land buys Woolwich Estate – British Land has acquired the Woolwich Estate, a retail-focused, multi-use estate covering 4.9 acres in south east London for a headline price GBP103 million representing a net initial yield of 4.1%. Part of the attraction for British Land is that it builds their portfolio of places benefitting from the Elizabeth Line, […]
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