Supermarket Income REIT buys Sainsbury’s superstore – Supermarket Income REIT has acquired the freehold of the Sainsbury’s Bybrook Superstore in Ashford, Kent, from National Farmers Union Mutual Insurance Society for GBP80 million (net of acquisition costs), reflecting a net initial yield of 4.5% after the next agreed RPI-linked rent review in September 2017. The store […]
Wolf Minerals (AIM: WLFE) has secured an additional £5 million in funding from major shareholder Resource Capital Fund VI to help it complete the operating turnaround plan at its Drakelands tungsten/tin mine. The key elements of the turnaround plan are modifications to the dense media circuit (Phase 1 completed and Phase 2 planned for 9 […]
John Laing Environmental buys anaerobic digestion plant – John Laing Environmental Assets Group has acquisition of Vulcan Renewables Ltd for a total consideration, including working capital, of GBP15.3 million. The acquisition, in partnership with experienced operator Future Biogas Ltd, is the Company’s first investment in the anaerobic digestion sector, further diversifying the Company’s portfolio of […]
Witan Pacific diversifies manager line up – The Board of Witan Pacific Investment Trust has announced changes it intends to make to the line-up of external delegated investment managers within its multi-manager structure. The initial structure will be approximately: Aberdeen Standard Investments 25% (previously 42%) Dalton Investments LLP 10% (new) Matthews International Capital Mgt. 40% (previously […]
NextEnergy adds two plants – NextEnergy Solar Fund Limited has announced the acquisition of two operating solar plants totalling 21.7MWp with an investment value of GBP26.4m Since IPO in 2014, NextEnergy Solar has now secured a portfolio of 50 solar PV assets with a total capacity of 505MWp and a total investment value of GBP581m. NextEnergy […]
Macau Property Opportunities escapes worst of Typhoon Hato – Macau Property Opportunities Fund Limited announces that the Company’s portfolio of properties has suffered minimal damage resulting from Typhoon Hato which caused widespread disruption and flooding in Macau on Wednesday. The company is fully insured for typhoon risk. The Manager has instructed the commencement of repair […]
Starwood European proposes changes to DCM and management agreement – The board of directors has announced proposals that relate to the discount-triggered realisation mechanism and realisation vote currently provided for in the Articles ), amendments to the investment management agreement with Starwood European Finance Partners Limited and the replacement of the existing carried interest entitlement […]
Greencoat UK Wind buys Corriegarth wind farm – Greencoat UK Wind PLC has acquired Corriegarth Wind Farm from Invenergy Renewables LLC for a total consideration of approximately GBP181 million. Corriegarth is located approximately 20 miles south west of Inverness on the eastern side of Loch Ness, and has a capacity of 69.5MW. Corriegarth was developed […]
James Carthew: Witan paves way for debt-laden Merchants One headline that caught my eye last week was Witan (WTAN) announcing it had borrowed £30 million at a rate of 2.74% fixed for 37 years. I think that might be a record, in terms of time to maturity, for the investment companies sector. For most of […]
Africa Opportunity tidies up share structure – The Board of Africa Opportunity Fund Limited has announced the creation and issue of Contingent Value Rights to holders of its Existing Ordinary Shares (details of which are set out below) and conversion of the outstanding C Shares into New Ordinary Shares. Africa Opportunity issued 29,200,000 C Shares […]
Hg Capital sells Sequel – HgCapital, the Manager of HgCapital Trust plc, has announced that it has sold Sequel Business Solutions, a provider of software and services to the Lloyd’s of London and the broader insurance markets, to Verisk Analytics (Nasdaq: VRSK), a leading data analytics provider serving customers in property/casualty insurance, natural resources, and […]
Shaftesbury buys Berwick Street development – Shaftesbury PLC, the Real Estate Investment Trust which owns a 14 1/2 acre portfolio in London’s West End, announces that it has entered in to a contract with PMB Holdings Limited to acquire a long-leasehold interest in 90-104 Berwick Street, Soho, London W1 at a price of GBP38.5 million. […]
LXi buys Motorpoint car showroom – The Board of LXi REIT has announced that the company has acquired the Motorpoint car showroom in Burnley, Lancashire. The purchase price for the Property is GBP5.7 million, reflecting a net initial yield of 6.5% (net of acquisition costs), which is expected to rise to over 7.0% following next […]
LXi buys long let supported living portfolio – LXi REIT has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Essex and Somerset. The purchase price for this portfolio is GBP9.2 million, reflecting a net initial yield of 6.0% (net of acquisition costs to the company). Each […]
Supermarket Income REIT buys Bristol Tesco Superstore – Supermarket Income REIT has acquired the freehold of a Tesco Superstore, Lime Trees Road, Bristol, from a client of Aberdeen Asset Management for GBP28.5 million (net of acquisition costs), reflecting a net initial yield of 4.9%. The purchase has been funded out of the equity proceeds of […]
Scottish American’s deputy managers take charge – The Board of the Scottish American Investment Company has announced that James Dow and Toby Ross, previously Deputy Managers, have become Joint Managers of the fund. The Board said that it wished to extend its thanks to Dominic Neary, the former Manager of Scottish American, for his considerable contribution […]
Vietnam Opportunities paying dividends – Following consultations with the major shareholders of, and advisers to, VinaCapital Vietnam Opportunity Fund Limited, the Board of Directors has decided to amend VOF’s dividend policy. With immediate effect, the Board intends that the Company will pay a dividend twice per year, normally declared in March and October. The first […]
Wolf Minerals intends to recover the cost of rectifying a low frequency noise (LFN) problem caused by the vibrating screens in its Drakelands tungsten/tin processing plant from its lead construction contractor, GR Engineering Services Limited (GRES). It will take advantage of a £7.5 million Performance Bond provision included in the construction contract for the Drakelands […]
Witan fixes £30m debt for 37 years – Witan Investment Trust plc has today agreed to issue a GBP30m fixed rate 37 year secured private placement note at a coupon of 2.74%. The purpose of this transaction is to obtain fixed rate long dated Sterling denominated financing at a pricing level that the company considers […]
Caledonia Mining has reported comprehensive H1 2017 earnings of US$4.2m against US$5.4m for the same period of 2016. EPS was US27.6c against US38.3c a year earlier, a decrease of 28%. Adjusted EPS was US45.7c against US43.0c in H1 2016. Net profit attributable to Caledonia’s shareholders decreased from US$4.2m in H1 2016 to US$3.0m in H1 […]
Civitas Social Housing invests in South West – The Board of Civitas Social Housing PLC has announced that the company has completed the purchase of a portfolio of regulated social housing for a total consideration of GBP4.8 million, comprising the freehold interest in five supported living properties, with 28 tenancies, in the South West of […]
LXi REIT buys another Premier Inn – LXi REIT has exchanged contracts to forward purchase the new Premier Inn hotel currently under construction at Wilson Street, Middlesbrough. The purchase price is GBP6.2 million, reflecting a net initial yield of 5.1% (net of acquisition costs). They have paid the vendor a 10% deposit with the balance […]
Fast Forward’s Schoold merging with Lingo Media – FastForward is pleased to announce that investee company, Vested Finance inc (trading as Schoold Inc) in which FastForward has an equity interest of 11.6%, has announced that it has now approved a definitive agreement dated August 10, 2017 to combine in a merger of equals through an all-stock […]
VinaLand sells My Gia stake – VinaLand Limited has announced that, further to the announcement dated 28 April 2017, it has divested its remaining stake in the My Gia project to a Vietnamese development company. The My Gia township development project is located in Khanh Hoa Province and was acquired by VNL in 2008. VNL’s disposal […]
Empiric funding 166 bed development in Edinburgh – The Board of Empiric Student Property says that the Group has acquired land with planning permission and entered into a forward funded agreement for a 166 bed premium student accommodation development in Edinburgh for a total funding commitment of GBP26.56 million (excluding costs). The Property will be valued post-completion and […]
Greencoat UK Wind buys North Hoyle and Slieve Divena wind farms – Greencoat UK Wind PLC has entered into agreements to acquire the North Hoyle and Slieve Divena wind farms from institutional investors advised by JP Morgan Asset Management for a total consideration of approximately GBP105 million. The acquisitions, which are expected to complete in August […]
Renewables Infrastructure investing in battery storage project – The Board of The Renewables Infrastructure Group has announced that the company has completed the acquisition of a 100% interest in Broxburn, a battery energy storage project which is currently under construction in West Lothian, Scotland. Broxburn, a 20MW battery, was developed and is being constructed by RES, TRIG’s […]
LondonMetric buys logistics portfolio from Cabot – LondonMetric Property Plc has announced the acquisition of 14 urban and regional logistic warehouses for GBP116.60 million from Cabot Properties. The purchase price reflects a day one yield on cost of 6.1% and a reversionary yield of 6.6%. The 1.3 million sq ft of warehouses are in established […]
