This sector includes mortgage companies, property management companies and REITs
In QuotedData’s morning briefing 29 September 2020: Greencoat UK Wind’s issue was well oversubscribed. It has raised £400m and will issue over 305m shares. The money will be used to pay down debt to £600m (21% LTV). PRS REIT says that it has arranged an additional £50m of debt facilities with Barclays Bank, taking its total […]
Ediston Property Investment Company (EPIC) has announced it has started construction of a retail park, in a vote of confidence for the retail sub-sector. The 48,000 sq ft retail park and petrol filling station in Haddington, East Lothian (near Edinburgh), is 97% pre-let to Aldi, Home Bargains, The Food Warehouse, Costa Coffee and Euro Garages. Construction […]
In QuotedData’s morning briefing 28 September 2020: CVC Credit Partners European Opportunities (CCPE/CCPG) reported interim results to 30 June 2020, with NAV total returns for the Sterling and Euro share classes coming in at (7.95%) and (8.45%), respectively. Chairman, Richard Boléat, had this to say: “Performance of risk assets as a whole since 30 June has […]
In QuotedData’s weekly news show 25 September 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: Temple Bar appointing RWC Asset Management Bluefield Solar’s results Hipgnosis launching £250m fundraise but ‘only’ raising £190m KKV Secured Loan is […]
The brakes have been well and truly pumped on any positive sentiment that may have been building in the real estate sector. After the successful ‘Eat Out to Help Out’ scheme and the government urging people to get back to the office, there was some light at the end of the deep, dark tunnel. That […]
Shaftesbury, the REIT that owns a 16-acre property portfolio in the heart of London’s West End, has collected just 41% of rent in the six months to 30 September 2020. The group, which owns properties in Carnaby Street, Soho, Chinatown and Covent Garden, also said vacancy across its portfolio had jumped from 4.8% at the […]
U and I Group has announced that a positive planning decision has been made in favour of its Kingstanding trading scheme on the outskirts of Tunbridge Wells in Kent. U and I says that all planning matters have been addressed by the planning committee and the scheme is only subject to the resolution of Highways […]
Aim-listed Circle Property has announced its annual results for the year ended 31 March 2020, during which its Chief Exec, John Arnold, has described the company as delivering “a very resilient performance”. The Company has provided the following key highlights from its results: Financial Highlights: Resilient Performance Further 3% growth in Net Asset Value (“NAV”) […]
In QuotedData’s morning briefing 25 September 2020: Menhaden has published its interim results for the six months ended 30 June 2020. During the first half of the year, Menhaden’s NAV per share fell 4.3% on a total return basis (2019: rose 13.0%), while the market value of the Company’s shares decreased by 13.0% (2019: increased […]
UK Commercial Property REIT (UKCM) has reported a 6.6% fall in net asset value for the six months to the end of June 2020. The company’s NAV has been hit by a drop in the value of its property portfolio during the COVID-19 pandemic, which fell 11.6% to £1.22bn in the period. NAV per share […]
In QuotedData’s morning briefing 24 September 2020 Good progress with the construction of Gore Street Energy Storage’s Irish assets has helped deliver a 1.6p increase in the fund’s NAV over the second quarter of 2020 to 96.2p. An interim dividend of 2p has been declared, making 7p in total for the year ending 31 March 2020. […]
Home REIT prospectus published Home REIT’s prospectus has been published and, if you were waiting to read it having read our IPO note, here it is – click here The timetable is fairly short. Applications under the intermediaries offer close at 5pm on 6 October. For the offer for subscription it is 11am on 7 […]
In QuotedData’s morning briefing 23 September 2020 – Hg, the Manager of HgCapital Trust (HGT) announced the sale of A-Plan Group, one of the UK’s largest specialist insurance intermediaries, to Howden. The deal is subject to regulatory approval. This transaction values HGT’s current investment in APG at £21.5m. This would represent an uplift of £3.2m (18%) over […]
Town Centre Securities (TOWN) has posted a 17.4% fall in net asset value (NAV) in full year results to the end of June 2020. The company, which owns property in Leeds, Manchester and London, saw its NAV fall from 354p to 292p per share, primarily as a result of a revaluation of its portfolio, which […]
Standard Life Investments Property Income Trust has reported half-year results that show an 11.5% fall in net asset value (NAV). The company’s NAV per share fell to 79.6p on 30 June 2020 (Dec 2019: 89.9p) due to an 9.9% drop in the value of its property portfolio to £447.3m. NAV total return in the six months […]
Tritax Big Box REIT (BBOX) has sold three assets for £77m. The group said the three assets had reached their full value following the completion of asset management initiatives that delivered rental growth and a lease extension. The assets comprise Baker Business Park in Ripon, Langley Mill, in Nottingham and Warth Park in Raunds. All […]
In QuotedData’s morning briefing 22 September 2020; Ground Rents Income Fund says that it notes the announcement published on 4 September 2020 by the Competition and Markets Authority (“CMA”), detailing its enforcement action against four leading housing developers as part of its ongoing investigation in relation to the sale of leasehold homes. The CMA have also […]
Stenprop has acquired two multi-let industrial (MLI) properties for £11.1m, reflecting a blended net initial yield of 6.5%. The two estates, in Glasgow and Stoke-on-Trent, comprise 18 units and brings Stenprop’s MLI portfolio to over 5m sq ft and 61% of its overall portfolio. The Excelsior Industrial Estate on the south west side of Glasgow […]
Real Estate Investors (RLE), the Midlands-focused REIT, has reported a 4.6% drop in net asset value (NAV) in half-year results. The company’s EPRA NAV fell from 67.4p per share at the end of 2019 to 64.3p at 30 June 2020. The fall was mainly driven by a 3% drop in its portfolio valuation, from £228.9m […]
Town Centre Securities, the regional property investor and car park operator, has sold four retail properties in Scotland and London for £35.2m. It has sold two Waitrose stores in Milngavie and Glasgow; an Aldi/Home Bargains store in Milngavie; and a high street retail store in Chiswick, London. The details of the sales are as follows: […]
In QuotedData’s morning briefing 21 September 2020 – Crystal Amber (CRS) reported annual results to 30 June 2020. The UK smaller companies fund’s NAV fell by (55.4%) in total return terms. It was a better second half of the year, with CRS’ NAV increasing by 11.2% over the year-to-date to 30 June 2020. The main […]
In QuotedData’s weekly news show 18 September 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: Securities Trust of Scotland changing its manager Premier Global Infrastructure changing its investment approach JPMorgan Brazil losing its continuation vote Gabelli […]
Real estate landlords must be thinking ‘when are we going to catch a break?’ Or more to the point ‘when is the government going to give us a break?’ This week, in all his wisdom, communities secretary Robert Jenrick announced an extension to the ban on evicting commercial tenants until the end of the year. […]
U and I Group (U+I), has announced that Yoo Capital Investment Management has acquired a majority ownership interest in Shepherd’s Bush Market for its Yoo Capital Fund II, L.P., forming a joint venture partnership with U+I. About Yoo Capital Investment Management Yoo Capital is a privately held real estate investment firm, with over £2 billion […]
Macau Property Opportunities (MPO) has provided an update on its progress with its loan refinancing and portfolio divestment. To summarise, on the loan side, MPO has entered into a HK$540 million (US$69.7 million) five-year loan facility with Hang Seng Bank, while on the divestment side, MPO has entered into a provisional sale and purchase agreement […]
Grit Real Estate Income (GRIT) has announced that it has entered into a binding agreement with Gateway Real Estate Africa Ltd (GREA) for Grit to dispose of a 39.50% interest in Delta International Bahrain SPC (DIB), the beneficial owner of AnfaPlace Mall (Anfa) for a total of US$25,488,440. Anfa forms part of a mixed-use complex […]
In QuotedData’s morning briefing 18 September 2020: We have details of the GRIT Real Estate Income’s disposal of its stake in Anfaplace Mall, JLEN Environmental Assets acquisition of two hydro assets (one with a co-located battery storage asset), Macau Property Opportunities progress with its loan refinancing and its divestment of its remaining individual unit at One […]
Regional REIT reported a 10.2% fall in net tangible assets (NTA) in the six months to June 2020. The company, which owns a portfolio of office and industrial properties in UK regional markets, saw the valuation of its portfolio fall 4.3% in the period due to Covid-19 uncertainty. It has collected 94.1% of rents in […]
In QuotedData’s morning briefing 17 September 2020 LXI REIT says that “following robust rent collection for the quarter ending September 2020“, it is increasing its quarterly dividend guidance by 4% to 1.35p per share (from 1.30p per share). Supermarket Income REIT is looking for more money. The aim is to issue £150m worth of shares at […]
In QuotedData’s morning briefing 16 September 2020: UK equity income sector company, Law Debenture Corporation (LWDB), said it remained committed to at least maintaining 2019 full-year dividend level of 26p. LWDB is a unique combination of an equity portfolio and independent professional services business. LWDB said today that “we approached 2020 with a professional services business […]
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