NewRiver Retail is planning to raise £150m, buy out the minority interests in two unit trusts and move to the main market. Of the £150m, £29m would be used to fund the acquisition of a 50% stake in the Trent JPUT (the Marston’s portfolio) at an implied net initial yield of 10.1%; £23m is for […]
Over the year to the end of March 2015, Alpha Real Trust saw its net asset value rise from 107p to 113.2p. Earnings per share rose 40% rom 5.3p to 7.5p. The quarterly dividend payment has now been set at 0.6p per share. Total dividends for the year were 2.175p. Asset values rose within the […]
Safestore has released its interim results covering the six months ended 30 April 2015. The EPRA earnings per share have risen from 5.3p to 7p and, on the back of that, the interim dividend has been increased from 2.15p to 3p. The EPRA diluted net assets per share rose from 201.5p to 232.2p. Property valuation […]
Real Estate Investors is buying six properties using the proceeds of its recent fund raising. they are spending £24.95m on: 40 St Paul’s Square, Birmingham: a prime office investment in the Jewellery Quarter of Central Birmingham, producing rent of £399,824 p.a. Tenants include Willis Group, ISG Regions, BHP Design, OLR (UK) Limited and Coltham Developments. Bearwood […]
SEGRO has announced that it will take full control of its Heathrow Bog Box Industrial & Distribution Fund joint venture with M&G. The Fund was formed as a 50/50 joint venture between Brixton PLC and M&G Real Estate in 2004 to own two assets in the vicinity of Heathrow Airport: Axis Park and Heathrow Corporate Park. SEGRO acquired […]
Ediston Property Income is spending £11.95m to acquire the Abbey Retail Park in Daventry. The yield will be 7.80% when the Park is fully let. The property provides 63,160 sq. ft. of retail warehousing, anchored by Homebase, with parking for 386 cars, on a five acre site. The weighted average unexpired lease term is just […]
Ediston Property has announced the acquisition of a B&Q Extra Retail Warehouse in Coatbridge, Scotland for £16.8m. The acquisition price is equivalent to a net initial yield of 7.46%. The property extends to 103,000 sq. ft., plus a garden centre and builders’ yard, with parking for 600 cars, on a site of 4.27 acres. It is […]
UK Commercial Property has announced the sale of two assets from its retail portfolio, 176-206 Kensington High Street, London and 134-138 North Street, Brighton in two separate transactions for a total consideration of £82.7m, which is marginally ahead of their aggregate valuation as at 31 March 2015. The assets have been deemed to be non-core to […]
Custodian REIT has published its first set of results covering the 53 weeks to the end of March 2015. Over this period the NAV rose by 3.2% to 101.3p and the NAV total return was 7%. They paid dividends of 3.75p in the period and are proposing a final dividend of 1.5p to make a […]
Over the year to the end of March 2015, Picton Property Income’s net asset value climbed from 56p to 69p and its earnings per share grew from 10.4p to 15.4p. To give a total return of 27.4%. They maintained the dividend but this year will increase it by 10% to 3.3p per share [corrected from version where […]
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