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 […]
Good returns help Henderson Far East grow – over the year ended 31 August 2019, Henderson Far East Income returned 6.5% in NAV terms and 7.6% in share price terms, both well-ahead of comparative indices and the AIC’s Asia Pacific Income peer group average. The dividend was upped by 3.7% to 22.4p,an amount that was […]
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 […]
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 […]
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 […]
In QuotedData’s other news 18 November 2019 – Real Estate Credit Investments (RECI) announced it had received a full repayment of a loan for a mixed-use development in Old Street, London. RECI participated pari passu alongside its manager’s other real estate funds, in a £87.5m mezzanine loan, at 47%-73% loan-to-cost (LTC) and 38-57% loan-to-gross-development-value (LTGDV) ranking behind […]
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 […]
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 […]
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 […]
Greencoat Renewables acquires 20.4MW Killala community wind farm – Greencoat Renewables (GRP), the Irish renewable infrastructure company has announced it has acquired Killala Community Wind Farm, a 20.4MW wind farm situated in County Mayo. The project consists of 5 Siemens 3.4MW turbines that have been operational since July 2019. An additional Siemens 3.4MW turbine is […]
In QuotedData’s other news 15 November 2019 Princess Private equity has highlighted a press release from Partners Group – Partners Group has agreed to sell its minority equity stake in Action, Europe’s leading non-food discount retailer, on behalf of its clients. The stake will be acquired by Hellman & Friedman, a leading private equity investment firm. Partners […]
Adamas AGM postponed on Hong Kong unrest – yesterday Adamas Finance Asia announced that it would postpone the AGM planned for today. The statement said that the directors”are closely monitoring the current unrest in Hong Kong, in particular the flare up this week in the financial district and in the context of the scheduled annual […]
Reasonable year for Schroder Oriental Income – Over the year to the end of August 2019, Schroder Oriental Income produced an NAV return of 3.7%. A small narrowing of the discount meant that shareholders got a return of 5.4%. The dividend was increased from 9.7p to 10.1p and there was sufficient income left over to add […]
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, […]
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 […]
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 […]
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 […]
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 […]
Schroder Income Growth hit by widening discount – over the year ended 31 August 2019, the trust underperformed its benchmark, the All-Share Index, returning -1.9% against +0.4% for the index. A widening discount compounded the problem, however. The discount went from 4.6% to 8.3% leaving shareholders with a return for the year of -5.4%. On […]
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 […]
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 […]
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 […]
New investments from BioPharma Credit – BioPharma Credit (BPCR) has announced that it has entered into two separate loan agreements to invest US$52.5m now and up to an additional US$32.5m over the next twelve months. Epizyme – epigenetic therapies On 4 November 2019, BPCR entered into a definitive senior secured term loan agreement for up to […]
The Liquidators of JPMorgan Global Convertibles Income Fund Limited (JCGI), have announced that they are to make a first interim liquidation distribution to shareholders. This will be made at the rate of 92.90 pence per each ordinary share of no par value held. They say that all distributions will be paid by way of cheques drawn upon a […]
In an announcement on 1 May 2019, EJF Investments (EJF) said that EJF Capital LLC, the parent of the company’s investment manager (EJF Investments Manager LLC), currently absorbs 90% of EJF’s recurring operating expenses of the Company – aside from management and incentive fees. This arrangement is due to expire “no earlier than 1 January […]
Land Securities reported a £147m loss in half-year results to the end of September as the group’s retail portfolio continued to lose value following a raft of insolvencies and retailer collapses. The group posted a 3.2% fall in net asset value (NAV) per share to 1,298p from 1,341p as its portfolio lost £368m in value to […]
Assura, the healthcare property investor and developer, saw its net asset value (NAV) increase slightly to 53.5p and its portfolio value rise 3% in the six months to the end of September. However, pre-tax profit fell 2.7% to £36.4m, despite a 9.5% rise in net rental income to £50.6m. The group posted a 7.7% increase […]
Picton Property Income announced steady half-year results today that saw its net asset value (NAV) nudge up 0.9% to 94p per share. The slight increase in NAV was in part down to a 1.2% increase in the value of its property portfolio, driven by its large weighting to the industrial and office sectors. It posted […]
AVI Global held back as underlying discount widens – For the year ended 30 September 2019, AVI Global delivered an NAV return of 2.1%, lagging its benchmark, the MSCI All Country World ex US Index, which returned 4.5%. A widening of the discount from 8.5% to 10.9% left shareholders with a return of -0.4%. The dividend […]
Symphony invests in Smarten Spaces – Symphony International Holdings is making an investment in Smarten Spaces Pte. Limited, a Singapore based SaaS (Software-as-a-Service) company that provides software solutions for space management in commercial and industrial properties. The price hasn’t been disclosed but Symphony will get a minority position in Smarten Services and this will represent less than […]
