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Real Estate News

This sector includes mortgage companies, property management companies and REITs

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QuotedData’s morning briefing 26 November 2020

In QuotedData’s morning briefing 26 November 2020: JLEN Environmental Assets Group’s half year results show a small drop in NAV from 97.5p to 96.1p, driven by falling power and gas price estimates. Dividends are on target, however and these are covered by cash generated from operations. Montanaro UK Smaller’s interim results show it lagging its Numis […]

25 Nov 2020

Helical posts 3.2% fall in NAV

London office developer and landlord Helical has posted a 3.2% fall in net asset value (NAV) for the six months to the end of September. NAV for the half-year came in at £579.2m, compared to £598.7m at the end of March, with EPRA net tangible asset per share down 3.6% to 505p (March 2020: 524p). […]

25 Nov 2020

QuotedData’s morning briefing 25 November 2020

In QuotedData’s morning briefing 25 November 2020: Gresham House Energy Storage has successfully raised gross proceeds of £120m through the issue of 114,285,714 shares at 105p. The issue was oversubscribed. The money will enable the company to finance up to six new near-term acquisitions totalling 245MW. RDL Realisation says that it intends for the company to become […]

24 Nov 2020

Countrywide shareholders opposed to Alchemy fundraise

Countrywide shareholders opposed to Alchemy fundraise – On 22 October 2020, Countrywide announced a proposed recapitalisation that included an equity raising of approximately £90m fully underwritten by Alchemy Partners. However, discussions with shareholders have indicated insufficient support for this proposal in its current form, but also a recognition of the need for new capital and a […]

24 Nov 2020

QuotedData’s morning briefing 24 November 2020

In QuotedData’s morning briefing 24 November 2020: Gore Street Energy Storage says its Drumkee project, a 50MW installed capacity project located in Northern Ireland, has been energised on schedule. Drumkee is now the largest energy storage project in Ireland. Mullavilly, Gore Street’s second 50MW Northern Irish project, is expected to be energised in December. Both Drumkee and […]

23 Nov 2020

Hotels and leisure assets weigh on LXI REIT

LXI REIT has reported a 2.9% fall in EPRA net tangible assets (NTA) in half-year results, as the value of its hotel and leisure portfolio took a hit during the pandemic. The company, which specialises in inflation-protected long income real estate, posted an EPRA NTA of 120.8p at 30 September 2020, compared to 124.3p at […]

23 Nov 2020

Sirius Real Estate post 5% growth in NAV

Sirius Real Estate, the operator of business parks in Germany, has posted a 5% increase in net asset value (NAV) in half-year results to the end of September. The growth in NAV per share to 81.18c (March 2020: 77.35c) was mainly driven by a 4.3% uptick in the value of its portfolio to €1,229.7m. Sirius […]

23 Nov 2020

Harworth acquires Merseyside industrial park for £26m

Harworth Group has acquired an industrial park in Merseyside for £26m, as it continues to grow its exposure to the sector. The developer and investor has bought Saturn Park in Knowsley at a net initial yield of 7.7%. Located on a 35.2-acre site, Saturn Park comprises 416,000 sq. ft of modern warehouse space across three units […]

23 Nov 2020

QuotedData’s morning briefing 23 November 2020

In QuotedData’s morning briefing 23 November 2020: US Solar Fund says that all 41 projects in its portfolio, totaling 443MWDC, are now fully operating and generating revenue. The final project, the 128MWDC Milford plant in Utah, reached the commercial operations date under its power purchase agreement (PPA) on 19 November, on-time and under-budget – saving $4m […]

20 Nov 2020

QD view – The valuation game

Commercial property valuation has been a bone of contention for years. It is generally accepted that valuers are slow to react to changes in the sector. Just look at the recent history of retail valuations. Despite clear evidence that rents were falling due to the impact on retailer demand for space caused by a boom […]

20 Nov 2020

QuotedData’s weekly news show 20 November 2020

QuotedData’s weekly news show 20 November 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: BlackRock Throgmorton’s fundraise Montanaro European’s excellent results UK Mortgage’s plan for the future Watch it again here We’ll be […]

20 Nov 2020

Wellcome Trust offer for Urban&Civic a persuasive outcome

Urban&Civic has announced its annual results for the year ended 30 September 2020, which includes commentary on the previously announced recommended offer from Wellcome Trust that the board describes as a persuasive outcome for all stakeholders. It says that the all cash offer of 345p per share is above up to date EPRA NAV and […]

20 Nov 2020

Unite acquires 800 bed development site in Paddington

Unite Group has announced that it has acquired an 800-bed development site in Paddington, central London on a subject to planning basis. It has also provided an update on check-in performance for the 2020/21 academic year. Paddington development site acquired from Travis Perkins Unite has exchanged contracts to acquire a new 800-bed development site in […]

19 Nov 2020

LondonMetric delivers strong half-year results

LondonMetric Property has delivered strong half-year results in which net tangible assets (NTA) jumped 3%. The company saw the value of its portfolio, which comprises industrial and logistics and long-income assets, increased by 2.3% to £2.4bn. As a result, EPRA NTA for 30 September 2020 was 175.5p, compared to 170.3p in March 2020. Net rental income […]

19 Nov 2020

QuotedData’s morning briefing 19 November 2020

In QuotedData’s morning briefing 19 November 2020: International Biotechnology reports that an uplift in the value of its stake in SV Fund VI has added $4.8m (£4.0m) or 9.1p per share to its NAV. Octopus Renewables Infrastructure Trust has secured a committed £150m revolving credit facility (RCF) from a group of five lenders. The RCF, provided […]

18 Nov 2020

AEW UK REIT posts 16.1% total return for six months

AEW UK REIT reported share price total return for the six months to the end of September of 16.1%. The group, which owns a diverse property portfolio, posted a net asset value of 92.73p per share (down slightly from 93.13p on March 2020). It paid dividends during the period of 4p per share, meaning its […]

18 Nov 2020

British Land makes £177m sale and reports gloomy half-year results

British Land has announced the sale of a West End development for £177m, at a 7.6% premium to book value, as well as half-year results. The group disposed of Clarges Mayfair, which consists of 50,000 sq ft of offices, 15,000 sq ft of retail and 34 residential apartments. It acquired the site in 2012 and […]

18 Nov 2020

QuotedData’s Morning Briefing 18 November 2020

In QuotedData’s Morning Briefing 18 November 2020 – Ahead of its AGM on 25 November 2020, JPEL Private Equity (JPEL) provided an update on its realisation strategy, noting that its manager is in advanced negotiations to sell its largest asset, its interest in MBI Holding. The transaction price would be around its carrying value with […]

17 Nov 2020

McKay Securities “ideally placed to benefit” from shift in office sector

McKay Securities, which owns a portfolio of office and logistics assets in the South East of England, said it was “ideally placed to benefit” from a shift in the office sector caused by COVID-19. Its office portfolio, which accounts for 56.3% of its £438.95m portfolio, is predominantly located in towns in the Home Counties that […]

17 Nov 2020

Schroder REIT NAV drops 2.8%

Schroder REIT has reported a 2.8% drop in its net asset value (NAV) in half-year results to the end of September 2020. NAV per share now stands at 58p versus 59.7p at 31 March. The fall was due to a 3.4% decrease in the value of its 39-strong property portfolio during the period, which is […]

17 Nov 2020

QuotedData’s morning briefing 17 November 2020

In QuotedData’s morning briefing 17 November 2020: BBGI Global Infrastructure has announced a placing of up to £55m worth of shares at a price between 164p and 172p. the money wil be used to help pay for a 25% stake in Signature on the Saint-Lawrence Group, the operator of the Samuel De Champlain Bridge Corridor in Montreal, […]

16 Nov 2020

Home REIT buys £41.6m of homeless accommodation

Home REIT, the recently launched REIT that funds the acquisition and creation of homeless accommodation, has acquired a further five portfolios of properties in England for a total of £41.6m. The deal means that since its £240m initial public offering (IPO) on 12 October 2020, the group has invested more than £50m in accommodation that will house […]

16 Nov 2020

Stenprop continues portfolio transition with £14m buys

Stenprop has acquired two multi-let industrial (MLI) estates for £14m, as it continues its transition into a fully focused UK MLI landlord. Together the two estates, in Durham and West Bromwich, comprise 58 units and produce just over £1m of annual rent. The largest of the two is the Mandale Business Park, located on the outskirts of […]

16 Nov 2020

Warehouse REIT acquires £43.6m portfolio

Warehouse REIT has acquired a portfolio of five warehouses for £43.6m, reflecting a blended net initial yield of 6.7%. It has bought the properties from Greenstone Property Holdings, a company owned by Warehouse REIT directors Simon Hope and Stephen Barrow. The assets total 570,000 sq ft and provide an annual rent of £2.95m as well as […]

16 Nov 2020

Supermarket Income REIT acquires first Aldi store

Supermarket Income REIT has acquired a Tesco Extra and an adjoining Aldi supermarket in Leicester from British Land. It has bought the two supermarkets for a total of £63.4m, reflecting a 6.4% yield. The acquisitions mean Aldi, which is one of the fastest growing grocers in the UK, has become a new tenant in Supermarket Income […]

16 Nov 2020

QuotedData’s Morning Briefing 16 November 2020

QuotedData’s Morning Briefing 16 November 2020 – UK Mortgages (UKML) is to convene an extraordinary general meeting on 4 December. Its board is recommending that UKML should continue operating as a publicly-traded investment company under a revised mandate offering an increased focus on enhancing liquidity and returns whilst continuing to seek to narrow the discount. This […]

13 Nov 2020

QD view – Has COVID impact on offices been over-egged?

Hoorah, some good news. A vaccine breakthrough courtesy of Pfizer and BioNTech brought much needed positivity. For the property sector, it was the shot in the arm it needed just a week after lockdown 2.0 was announced. Will life go back to normal with a successful vaccine available or are trends developed during the pandemic, […]

13 Nov 2020

QuotedData’s weekly news show 13 November 2020

QuotedData’s weekly news show 13 November 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, Shonil Chande and Richard Williams covered the week’s top stories: IPO: Round Hill Music IPO Intention to float: VH Global Sustainable Energy Opportunities, and Schroder […]

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