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Real Estate News

This sector includes mortgage companies, property management companies and REITs

06 Dec 2019

Ediston reports 5.7% fall in NAV

Ediston Property Investment Company, the real estate investment trust, has reported a fall in net asset value (NAV) of 5.7% in full year results. The drop was largely due to a 3.5% fall in the value of its property portfolio, which now stands at £319.2m, and its exposure to the retail sector. All of its […]

06 Dec 2019

QuotedData’s other news 6 December 2019

In QuotedData’s other news 6 December 2019 Sanditon’s liquidation vote passed yesterday Baring Emerging Europe beat its benchmark for the year ended 30 September 2019, returning 17.8% against 15.9% for the index. The dividend was increased by a penny to 35p. Returns were driven by a strong stockmarket in Russia. Duke Royalty has awarded three […]

04 Dec 2019

Primary Health Properties to forward fund Eastbourne GP surgery

Primary Health Properties (PHP), one of the UK’s leading investors in healthcare facilities, will provide development funding for the construction of a purpose built medical centre in Eastbourne, East Sussex for a total cost of £8.4m. The facility, which will be wholly owned by PHP upon its completion, will be used by two merged GP practices […]

04 Dec 2019

QuotedData’s other news 4 December 2019

In QuotedData’s other news 4 December 2019 Augmentum Fintech’s NAV made progress over the six months ending 30 September 2019, rising by 2.4%. This would have been higher but their holding in Zopa took a hit as it raised money to fund an application for a full banking licence. We also have news of higher […]

02 Dec 2019

Civitas Social Housing reports half-year results as portfolio grows to nearly 600 properties

Civitas Social Housing reports half-year results as portfolio grows to nearly 600 properties – Civitas Social Housing, the supported living and social housing REIT, has released half-year results to 30 September 2019. CSH’s chairman, Michael Wrobel, commented: “The company is pleased to report a strong set of results with our key performance objectives met. We continue to […]

29 Nov 2019

QuotedData’s other news 29 November 2019

In QuotedData’s other news 29 November 2019 PME Africa has increased its loan from Optas Gmbh from €400,000 to €600,000 while it tries to free up cash at its account in Tanzania. EIH says it has consulted its shareholders and a vast majority are in favour of de-listing its shares in the interests of saving money. […]

28 Nov 2019

Urban & Civic posts 9.6% leap in NAV

Urban & Civic saw its EPRA net asset value (NAV) jump 9.6% in full year results after successfully progressing residential sites through the planning system. EPRA NAV rose from £481.2m a year ago to £527.5m with the revaluation of its Waterbeach site, where the company gained outline consent for 6,500 homes earlier this year, contributing £24.6m […]

28 Nov 2019

St Modwen continues industrial focus with £34m retail portfolio sales

St Modwen has sold a chunk of its non-core retail portfolio for a total of £34m, as it continues to shift its focus to the industrial sector. The sales, in Doncaster, Crosby and Kirkby, were sold at a discount of 9% compared to the May 2019 book value of the three assets. The disposals follow […]

28 Nov 2019

QuotedData’s other news 28 November 2019

In QuotedData’s other news 28 November 2019 Tritax EuroBox is to spend €30m extending its Barcelona warehouse by 88,000 sqm. Building starts in 2021 for completion in 2023. The warehouse is let entirely to Mango (the fashion retailer) and was already by far the largest asset in EBOX’s portfolio. This is a big bet on one […]

27 Nov 2019

LondonMetric post 16.6% uplift in net rental income

LondonMetric has reported a 16.6% uplift in net rental income to £54.9m in half year results following the acquisition of A&J Mucklow in the period. The company, which saw net asset value (NAV) remain flat at 174.9p per share, said the acquisition has significantly increased its portfolio weighting to the urban logistics sub-sector that has […]

25 Nov 2019

Intu Properties continues disposals programme

Intu Properties continues disposals programme – Intu Properties (INTU) has sold Sprucefield Retail Park to NewRiver REIT for £40m, in line with its June 2019 valuation. Sprucefield Retail Park is located in Lisburn, Northern Ireland and comprises of 231,000 sq ft of retail space in five units, anchored by Sainsburys and B&Q. Intu has a portfolio of […]

22 Nov 2019

Civitas Social Housing appoints Alison Hadden to its board

Civitas Social Housing appoints Alison Hadden to its board – The board of Civitas Social Housing (CSH) has announced the appointment of Alison Hadden as an independent non-executive director of the company. CSH note that Alison brings a depth of experience within social housing and local government, having started her career at Dudley Metropolitan Borough […]

21 Nov 2019

Residential Secure Income reports annuals, 18% NAV total return since admission

Residential Secure Income reports annuals, 18% NAV total return since admission – Residential Secure Income (RESI), which invests in affordable shared ownership, retirement and local authority housing, has announced its annual results for the 12 months to 30 September 2019.  Financial highlights IFRS NAV total return of 8.0p per share for the period; 3.9%, or £8.7m, uplift […]

20 Nov 2019

QuotedData’s other news 20 November 2019

In QuotedData’s other news 20 November 2019 Hansteen has bought seven multi-let industrial estates on the Newton Aycliffe industrial park in County Durham for £12m. The portfolio comprises 53 units totalling 341,620 sq ft, with individual units ranging in size from 820 sq ft to 32,648 sq ft. The contracted rental income is GBP1,094,000 a year (GBP3.55 […]

20 Nov 2019

Grit Real Estate investing more in Botswana

Grit Real Estate investing more in Botswana – Grit Real Estate Income is buying an additional 22.75% stake in Botswanan real estate company, Letlole La Rona Limited for US$ 13.8m (to be settled by issuing new ordinary shares in Grit). The vendor is Botswana Development Corporation Limited, a development finance institution founded in 1970, with the […]

19 Nov 2019

Palace Capital reports drop in NAV and profits

Palace Capital, which owns a diverse portfolio of property in the UK regions, has reported a drop in net asset value (NAV) per share of 3.9% during the six months to the end of September. NAV per share fell to 391p during the period, compared to 407p at the end of March, while profit after […]

19 Nov 2019

Hammerson sells Gloucester retail park

Hammerson sells Gloucester retail park – Hammerson has exchanged contracts on the sale of St Oswald’s Retail Park, Gloucester, to a local authority for GBP54m. The sale price reflects a net initial yield of 8.5%, and is 8% below the 30 June 2019 book value. The 20,900 square metre scheme, which is located to the north […]

19 Nov 2019

Standard Life Property Income sells Denby logistics unit

Standard Life Property Income sells Denby logistics unit – Standard Life Investments Property Income Trust has sold its second largest investment, a logistics unit close to Derby, for GBP19.1m. The property was let until 2025 and the rental income represented 4.4% of the company’s income. The sale price was at the September valuation, and reflected a […]

19 Nov 2019

QuotedData’s other news 19 November 2019

In QuotedData’s other news 19 November 2019 Amedeo Air Four says that Emirates will take two of its A380s out of service for a while to allow it to install new premium economy cabins. This won’t affect Amedeo Air Four’s income but it thinks it might help when it comes to selling the planes at the […]

18 Nov 2019

Capital & Counties sells Earls Court estate for £425m

Capital & Counties has exchanged contracts for the sale of its interests in Earls Court, excluding Lillie Square, to APG and Delancey for £425m. The price is significantly short of the balance sheet value at 30 June 2019 of £508m. Payments will be made to Capital & Counties on a phased basis, with 45% payable […]

18 Nov 2019

McKay Securities posts 20.8% leap in rental income

McKay Securities, the London and South East focused REIT, has reported a 20.8% jump in gross rental income to £12.61m in half-year results. The company said the increase was due to several lettings secured on development projects. It contributed to a rise in EPRA net asset value (NAV) in the six months to the end […]

18 Nov 2019

Real Estate Investors adds Leamington Spa unit

Real Estate Investors adds Leamington Spa unit – Real Estate Investors (RLE), the midlands-focused REIT with a portfolio of 1.53m sq. ft. of commercial property in the Midlands property market across all sectors, has announced the acquisition of a fully-let, prime, mixed-use block on The Parade, Royal Leamington Spa, for £7.45m, delivering a net initial […]

14 Nov 2019

Great Portland Estates posts strong half-year figures with earnings growth of 17.8%

Central London office developer Great Portland Estates announced earnings per share growth of 17.8% to 10.6p in strong half-year results. The company also revealed net asset value (NAV) growth of 1.8% to 868p per share, for the six months to the end of September. It posted portfolio valuation growth of 0.8%, rental growth of 1.0% (+1.4% offices, […]

14 Nov 2019

Regional REIT adds £2.2m to rental income so far this year

Regional REIT announced it has grown its annual rental income by £2.2m so far this year through new leasing deals, during a third quarter trading update. The company, which is focused on building a diverse portfolio of income producing regional UK core and core plus office and industrial property assets, exchanged on 50 leases to new […]

14 Nov 2019

Safestore reports growth in revenue of 5.5% in a year

Safestore, the self-storage specialist that has a portfolio in the UK and Paris, reported a 5.5% increase in revenues in a fourth quarter trading update. The company’s revenues for the full year to the end of October increased to £151.8m, from £143.9m last year. Occupancy across its portfolio, which comprises 122 sites in the UK […]

14 Nov 2019

Urban Logistics REIT posts 12.4% NAV rise in impressive interim results

Urban Logistics REIT has announced an increase in net asset value (NAV) of 12.4% to 145.2p in interim results today, reaffirming the strength of the industrial sector. The specialist logistics REIT posted a 31.3% jump in net rental income to £5.8m in the six months to the end of September, while EPRA earnings per share […]

14 Nov 2019

QuotedData’s other news 14 November 2019

In QuotedData’s other news 14 November 2019 At the half-year stage (30 September in its case), Next Energy Solar’s NAV crept up to 111.2p from 110.9p, supporting a 6.7% return to shareholders. Dividends for the first half totalled 3.44p, up from 3.325p. Electricity generation was 5% above budget, powering the equivalent of 134,000 homes for the […]

13 Nov 2019

CLS Holdings buys Harrow office for £13.8m

CLS Holdings has exchanged contracts to buy an office in Harrow, north-west London, for £13.8m. It has acquired One Six Six on College Road, which comprises 34,655 sq ft of space and is currently multi-let to eight tenants with a weighted average unexpired lease term (WAULT) of 4.8 years to breaks and 7.9 years to expiries. The […]

13 Nov 2019

Retail problems weigh heavy on British Land as NAV falls 5.4% in half-year results

Property giant British Land suffered a 5.4% fall in net asset value (NAV) while losses plunged further as the woes of the retail sector impacted on the group’s half-year results. The group’s NAV for the six months to the end of September fell to 856p, while its pre-tax losses jumped from £48m last year to […]

13 Nov 2019

Workspace posts 2.7% jump in NAV as demand for serviced office space in London continues

Demand for serviced office space in London remains buoyant as Workspace Group reports strong half-year results that has seen its net asset value (NAV) increased by 2.7% to £11.15 per share. The flexible office space provider has reported net rental income up 11% in the six months to 30 September 2019 to £60.1m, while its […]

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