Empiric Student Property has announced that they haves exchanged contracts to acquire, subject to planning, the freehold of a site on Pendennis Rise, Falmouth, at a cost of £2.3 million (excluding fees). The company is in the process of applying for planning permission with the Cornwall County Council for a 287 bed premium student accommodation development […]
Standard Life Investments Property Income Trust has announced that it has entered into an agreement to extend £145m of its existing £155m debt facility with The Royal Bank of Scotland. The debt facility consists of a £110m 7 year term loan and a £35 million 5 year revolving credit facility. The Revolving Credit Facility may, […]
Empiric Student Property has announced that it has acquired a site, on a 199 year lease, and entered into a forward funding arrangement in relation to a development in Portsmouth, known as Europa House (pictured). The company say that the project comprises a 242 bed redevelopment to create a new premium student accommodation scheme, for […]
LondonMetric Property has announced that it has acquired two convenience assets in Matlock and Leicester and a development site in Ipswich for a total cost of GBP16.2 million, reflecting a net initial yield of 7.0%. In Ipswich, LondonMetric has acquired a three acre site from Tesco, where it intends to develop a new 30,000 sq […]
Redefine International’s interim statement, covering the six months ended 29 February 2016, saw the EPRA NAV fall by 1.7% to 40.3p. Adjusting for the result of non-recourse negative equity, adjusted NAV of 40.9 pence decreased by 0.8 pence or 1.9 per cent since year-end. The underlying valuation growth of GBP4.8 million in the property portfolio […]
Empiric Student Property has acquired the long leasehold (999 years from March 2007) of a 561 bed scheme in Manchester for £29.5m. Victoria Point, Manchester was constructed in 2009 by the vendor as a private residential scheme comprising apartments and duplexes across six separate blocks of accommodation on a 3.5 acre site. The property has […]
Hammerson has announced the successful syndication and signing of a £420 million unsecured Revolving Credit Facility at an initial margin of 90 basis points with a syndicate of eight international banks. This new facility will refinance the existing £150 million Revolving Credit Facility which would have matured in April 2017 which featured a margin of 150 basis […]
LondonMetric Property has announced that it has exchanged contracts on the sale of its freehold Odeon Multiplex Cinema, in Taunton, Somerset, for £9.1m. The purcasher is the Asda Pension Fund and the sale price reflects a net initial yield of 5.5%. The eight screen, 27,000 sq ft cinema is let to Odeon Cinemas Ltd for a […]
Regional REIT Limited has announced the sale of two assets. Blythswood House, 200 West Regent Street, Glasgow, has been sold to Standard Life Investments for GBP17.4m, reflecting a net initial yield of 5.0%. The property was acquired in 2014 and then the previous lease was surrendered with a back-to-back letting-on a 25-year lease to Glasgow School […]
Empiric Student Property has announced that it has entered into a nomination agreement with the University of Bath in respect of three operating properties and two forward committed assets in Bath. The three operating properties are Piccadilly Place (pictured), Canal Bridge and Widcombe Wharf, whilst the two forward committed assets (due for completion in September 2016) […]
