Schroder European Real Estate Investment Trust has announce that it has exchanged contracts to purchase freehold office property located in Boulogne-Billancourt (Paris) for €37.5m. The purchase is the company’s first since its launch (the company listed on the London Stock Exchange on 9 December 2015) and the purchase price represents a net initial yield of […]
Schroder Real Estate Investment Trust has announced that has exchanged unconditional contracts to sell Technology House in Fleet (pictured) for £2.2m. This is a marked premium (83%) to an independent valuation of the property as at 30 September 2015 of £1.2 million. The trust says that the buyer has paid a non-refundable deposit of £220,000 […]
Drum Income Plus REIT has announced that it has exchange of contracts to purchase Lakeside 5500 (pictured), a multi-let office development, in Cheadle, Manchester, for £5.475m. the company says that key tenants Micron Europe Limited and Agilent Technologies LDA UK Limited and that the purchase price reflects a yield of 7.82%. Drum Income Plus REIT […]
Custodian REIT has announced that it has acquired the Phoenix Leisure Park, Crewe (pictured), which comprises four freehold units occupied by Pizza Hut, Mecca Bingo, Odeon Cinemas and MFA Bowl. The park, which is near Grand Junction Retail Park and within walking distance of the town centre and railway station, covers 55,713 sq ft. The […]
Following the sale of its property portfolio to Kildare Partners (announced in June 2015) Invesco Property Income has, as anticipated, delisted from the London Stock Exchange. The company is in wind-up and all of the proceeds from the sale were to be used to pay back the company’s lenders. Invesco Property Income Trust was a property […]
The board of Schroder Global Real Estate Securities has announced that a scheme for liquidating the company is to be put to shareholders for approval. They say that it is expected that the proposals will offer an opportunity for shareholders to retain their exposure to the same asset class through one or more open-ended vehicles […]
Hammerson has announced that it has exchanged contracts for the sale of two assets for a total of £87m. This includes its wholly owned shopping centre Monument Mall in Newcastle-upon-Tyne (pictured), which is being sold to Standard Life Investments UK Property Fund for gross proceeds of £75m. Monument Mall was acquired in 2011 for £28m and […]
The Local Shopping REIT has announced its annual results for the year ended 30 September 2015. Profit for the financial period was £0.02m or 0.02 pence per share (2014: £1.21m or 1.5 pence per share). However, this marked drop reflects the sale of two of the Company’s property-holding subsidiaries, NOS 2 Limited and NOS 3 […]
AEW UK REIT has announced interim results for the six months ended 31 October 2015. The property portfolio rose in value by 1.55% over the period. Adjusted earnings per share were 1.68p. The net asset value fell from 98.03 after the IPO to 97.09p at end October – most of the fall relates to the […]
SEGRO plc and Hermes Property Unit Trust have completed a property swap transaction. SEGRO has acquired from Hermes a 9,800 sq m single-let, modern distribution warehouse in Hayes, West London for £21.9m. Hermes has purchased from SEGRO two multi-let industrial estates totalling 29,300 sq m, both situated close to Heathrow Airport for £47m. The balance of £25.1m […]
