Target Healthcare REIT has announced that it has exchanged contracts to acquire Tapton Court, a 69 bed care home in Sheffield, South Yorkshire. Tapton Court (pictured) was built in the 1990s and closed in 2014. It will now be substantially redesigned and refurbished during which the bedrooms will be enlarged and reduced in number to […]
Aurora Russia is selling its last investment, a minority interest in Unistream Commercial Bank. They expect to get total proceeds of $4.975m in cash and believe the sale process will be completed by no later than 31 December 2015. Following the disposal of Unistream, the Board intends to consider proposals to hand back the cash proceeds in a cost […]
Schroder UK Growth Fund has announced its interim results for the six-months ended 31 October 2015. During the period, the Company’s NAV produced a total return of -5.3%, marginally outperforming its benchmark, the FTSE All-Share Index, which provided a total return of -5.7%. The share price produced a total return of -5.7%. The company has […]
Black Sea Property says it has been advised that the acquisition of properties that it is considering would not satisfy AIM that it was implementing its investment policy. The effect of this is that the company will have its admission to listing cancelled on 16 January. The Board are mulling their options and will shortly […]
Bluefield Solar Income fund has announced that it has made three sub-5 MegaWatts peak (MWp) solar plants. The three assets include a 4.7 MWp plant in Lincolnshire and two 4.99 MWp plants in Norfolk. The three are being acquired for a total consideration of £16.5m including transaction costs and working capital. Each plant is expected […]
Honeycomb Investment Trust has listed on the Specialist Fund Market of the London Stock Exchange raising £100m. The trust’s investment manager is Pollen Street Capital, the former private equity business of the Royal Bank of Scotland, which is headed by Lindsey McMurray. Pollen Street describes itself as a private equity fund manager focussed on investing […]
Graphite Enterprise Trust has announced that Intermediate Capital Group plc (ICG) has been appointed as the trust’s investment manager. This follows ICG’s acquisition of the private equity fund investment business of Graphite Capital Management LLP. The change of manager is expected to take effect on 1 February 2016 and Graphite Enterprise will be renamed ICG […]
MedicX Fund has announced that it has contracted to acquire, by way of forward funding, a new primary healthcare medical centre in Crumlin, a suburb of Dublin. The property is due to be completed in January 2017 and will be let to the Health Service Executive, a number of GPs and associated medical service providers. […]
Globalworth Real Estate Investments has announced that it has closed the acquisition, of Green Court Building B, Bucharest, from Skanska Romania. The transaction was effected through the acquisition of 100% of the shares of SPC Gamma Property Development Company s.r.l., the company owning the asset, for a consideration of circa €45m. Of this, €20m was […]
JPMorgan Chinese has published results for the year ended 30 September 2015 that show that discount widening resulted in a -7% return to shareholders despite the NAV return coming in at -0.2%, very close to the performance of the MSCI Golden Dragon Index of 0.0%. There is a dividend of 1.8p up from 1.6p last […]
John Laing Infrastructure Fund has announced that it has entered into an agreement with Iridium Concesiones de Infraestructuras (Iridium), a subsidiary of Grupo ACS, to acquire an effective 40% stake in the Barcelona Line 9 Section II metro project. Line 9 (pictured) runs directly through the heart of the city centre, connecting the airport and […]
Over the year to the end of September 2015, Schroder UK Mid Cap Fund’s net asset value produced a total return of 8.2%, compared to a total return of 12.7% for its benchmark, the FTSE 250 (ex-Investment Companies) Index. The share price produced a total return of 5.0%. The full year dividend increased 8.2% to […]
Highcroft Investment has announced that Rodenhurst Estates Limited (a property owning subsidiary of Highcroft Investments PLC) has agreed the sale of a freehold building in Market Place, Kingston upon Thames to a private investor for £1.125m (a 61% premium over its 31 December 2014 valuation of £700k). The property comprises a listed shop property fronting […]
Leaf Clean Energy has announced that, on 22 December 2015, it filed a complaint against its investee, Invenergy Wind LLC (“Invenergy”), in the Delaware Court of Chancery in Delaware, USA. The complaint seeks payment by Invenergy to Leaf Clean Energy of US$126.0m. Rather than cut and paste the text, we have attached a pdf of the […]
Renewable Energy Generation has announced that it has completed the sale of its assets and will delisting from the London Stock Exchange on 5 January 2016. The last day of dealing in the company’s ordinary shares, on AIM, will be 4 January 2016. No more WIND – Renewable Energy Generation to delist in January : […]
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 […]
Hansteen has announced that it has acquired a further 31.6m units in the Ashtenne Industrial Fund for £15.4m in cash, reflecting a price of 0.4869 pence per unit. The price represents an effective 5% discount to Hansteen’s carrying value for the Fund as at 30 June 2015. This acquisition represents 5.3% of the units of […]
Hg Capital Trust has announced that its manager, Hg Capital, has made investments in Zitcom and ScanNet, two leading Danish hosting and cloud solutions providers. The terms of the transactions were not disclosed. Hg Capital Trust will invest in Zitcom and ScanNet, alongside other institutional clients of Hg Capital, who will participate through the Mercury […]
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 […]
Randgold Resources has decided not to proceed with a proposed investment in a joint venture with AngloGold Ashanti to redevelop and operate AngloGold’s Obuasi gold mine, in Ghana. In terms of an agreement announced on 16 September, Randgold planned to undertake due diligence on the mine and the redevelopment plan that is the subject of […]
GLI Finance has announced this morning that, in light of feedback received as part of the marketing of the 2020 ZDP Shares to investors, the board has decided to cancel the Placing and Open Offer of 2020 ZDP Shares. Furthermore, the Board has decided that it will not be progressing with the issue of 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 […]
Alternative assets have dominated investment trust fundraising in 2015. A significant portion of the record net £3.9bn raised since the start of the year to 14 September was allocated to higher-yielding vehicles in areas including specialist debt and infrastructure, according to the AIC. www.investmentweek.co.uk/investment-week/analysis/2431475/five-of-the-best-alternative-trusts-with-attractive-entry-points
Chinese volatility in early August and the ‘Black Monday’ falls that followed may seem like big enough warning signals to avoid investing in Asia altogether. However, it is worth remembering that for most countries in the Asia (ex-Japan) region expected long-term growth remains attractive relative to more developed economies, and the region has much more […]
On 26 October 2015, Caledonia Investments announced that it had agreed to acquire Gala Bingo Holdings Limited, the UK’s largest retail bingo operator, from Gala Coral Group, in a transaction which valued the business at £241m. The acquisition was conditional on change of control approval by the Gambling Commission, which has now been granted, and […]
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 […]
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