This sector includes mortgage companies, property management companies and REITs
Schroder REIT has secured 13 new lettings or renewals across its portfolio. The group, which announced a share buyback programme last week, said the activity increased contracted rental income by £210,000 a year. The activity included: A new lease for a three year term to the Secretary of State for Housing, Communities and Local Government at […]
CLS Holdings has exchanged contracts to acquire a portfolio of commuter belt office properties for £59.71m. The portfolio consists of One Church Road, in Richmond; Priory Place, in Chelmsford; and Kings Court, in Leatherhead. One Church Road is located adjacent to Richmond Station, providing fast access to several commuter hubs including Clapham Junction and London […]
In QuotedData’s morning briefing 14 September 2020:: Martin Currie Global Portfolio (MNP) held up well over its interim results period to 30 June 2020, delivering a total NAV return of 8.4%. The result was well ahead of MNP’s benchmark, at 0.2%. MNP sits in the global sector, with healthcare and technology making up about half of […]
In QuotedData’s weekly news show 11 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 and Richard Williams covered the week’s top stories: Standard Life UK Smaller companies’ results A rush of announcements from Hipgnosis that could change the nature of […]
Alvarium Investments announced its intention to float Home REIT this week. Launching a new REIT during a global pandemic may have caused a few raised eyebrows among investors, but this is one we are particularly excited about. It was quickly apparent from reading the announcement that Home REIT is looking to tap into a sector […]
LondonMetric Property (LMP) has announced that it has sold a portfolio of six distribution warehouses for £57.3m to Canmoor and AIMCo (a Canadian institutional investor) reflecting a blended net initial yield of 5.3%. LMP has built the portfolio over a number of years, which includes last year’s acquisition of A&J Mucklow. LMP says that the disposal will crystallise an £8.8m profit on cost and […]
Secure Income REIT reported a 6% fall in property valuations in half-year results, mainly due to a 20.3% write down in the value of its budget hotel portfolio. The company is the biggest landlord to Travelodge, which secured a controversial CVA earlier this year that wiped millions off its rent bill. Secure Income REIT’s portfolio […]
In QuotedData’s morning briefing 10 September 2020: Capital & Counties has sold a block of property, that it has dubbed “the Wellington block”, for £76.5m. The block comprises 25-31 Wellington Street, 23 Wellington Street, 15 Exeter Street, 12 & 14 Burleigh Street and Burleigh House, currently providing approximately 66,000 square feet of lettable space. The buyer […]
New CEO for British Land – Chris Grigg has informed the board of British Land of his intention to step down as CEO and from the British Land board. Chris will step down as CEO following delivery of the company’s 2021 interim results on 18 November 2020 and leave the board and the company on 31 […]
UK Commercial Property REIT (UKCM) has fully let its 377,070 sq ft XDOCK377 logistics unit at Magna Park in Lutterworth to Armstrong Logistics, a pan-European distribution company. Armstrong Logistics has signed a 15.5-year lease with open market rent reviews at £6.50 per sq ft, in line with estimated rental value (ERV), which will add a […]
AEW UK REIT said it expects to collect 87% of rent by the end of the current quarter. The company, which owns a diversified portfolio of 34 regional UK commercial property assets, set out the following rent collection figures for the quarter commencing 24 June 2020 (as at 7 September): Received – 85% Payment expected prior […]
In QuotedData’s morning briefing 9 September 2020: Trian Investors (TI1), which was set up to invest in a single stock and engage with stakeholders to improve the stock’s value, made its move in July 2019 by acquiring a stake in Ferguson. Ferguson is a leading distributor of plumbing and heating products in North America, as well […]
In QuotedData’s morning briefing 8 September 2020: Standard Life Investments Property Income Trust has completed the purchase of a B&Q Retail Warehouse in Halesowen for £19.5m, financed by its low cost revolving credit facility. The purchase reflects an initial yield of 7.5% and is let to B&Q Ltd for a further 11 years to lease expiry. […]
Alvarium Home REIT Advisors has announced its intention to launch an initial public offering (IPO) in Home REIT, a company focused on the alleviation of homelessness in the UK. Home REIT will target inflation-protected income and capital returns, by investing in a diversified portfolio of assets across the UK which will be dedicated to providing accommodation to the […]
RDI REIT has sold its UK retail parks portfolio for £156.9m. The six assets that make up the portfolio has been sold to M7 Real Estate for a net initial yield of 7.5%. The sale price was a 3% discount to February 2020 book value. The group said the deal, which is expected to complete […]
Urban Logistics REIT (SHED) this week has announced another potential equity raise, having already invested all the proceeds of its £136m placing from March 2020. The news underlines the polarisation we are seeing in the property market, with other sectors such as retail and offices struggling in the face of uncertain futures. As many of […]
Impact Healthcare REIT (IHR) has announced that it has exchanged contracts on an individual property, St Peters House, in Bury St Edmunds, for a net consideration of £7.4 million. St Peters House is to be leased to an existing tenant. The initial rent will be £555,000, reflecting a yield of 7.5%. IHR has also completed […]
In QuotedData’s morning briefing 3 September 2020: Ashoka India provides an annual redemption facility to its shareholders. This year, just 367,616 shares (0.54% of the issued share capital) were requested to be redeemed. Tritax Big Box REIT has completed its sale of an asset in Chesterfield for £57.3m. The buyer was Warehouse REIT (see separate story). […]
Warehouse REIT spends £82m – Warehouse REIT has completed the acquisition of two single-let warehouse assets located in the East Midlands and Cheshire, occupied by Amazon and Wincanton respectively. The assets have been purchased in two separate transactions for a total consideration of £82 million, reflecting a blended net initial yield of 5.4% and provide a […]
In QuotedData’s morning briefing 2 September 2020: Temple Bar (TMPL) briefed that as per their announcements on 20 April and 9 June 2020, the board has instigated a review of the management arrangements. They anticipate that this review will be completed shortly, and the publication of the interim results has been delayed in order to […]
In QuotedData’s morning briefing 1 September 2020: CIP Merchant Capital has sold its interest in Circassia Group, a specialty biopharmaceutical company focused on respiratory diseases and quoted on AIM, for approximately £3.9m, resulting in a net profit of £1.1m. Circassia is the first investment that CIP Merchant Capital has sold. It made a 1.4 times cash on […]
Urban Logistics back for more money – In March 2020 Urban Logistics REIT completed a £136m equity raise, followed by arranging a £151m debt facility (at a reduced all in cost of c.2.66%) replacing the £76m facility previously in place. Since March 2020, Urban Logistics has completed nine acquisitions for a total consideration of £145.7m (6.0% […]
The debate around the future of the office continues to rage. It was reported today that the government is likely to set about on a campaign to get people back to the office. If the economy is going to bounce back quickly, cities like London, Manchester and Birmingham buzzing with office workers will certainly help. […]
In QuotedData’s morning briefing 28 August 2020: Invesco Asia (IAT) announced two measures aimed at meeting its 10% discount target. Chairman, Neil Rogan, says that they are being introduced to spark new demand for the company. Conditional tender offer: subject to approval by shareholders, the board intends to introduce a performance-related conditional tender offer. Under the […]
It has been a quiet morning so far. In QuotedData’s morning briefing 27 August 2020: NB Distressed Debt (NBDD) reported interim results to 30 June 2020, with the main point of focus being the ongoing wind up of the company’s three share classes: Ordinary; Extended Life; and New Global. Chairman, John Hallam, noted: “the Ordinary class […]
In QuotedData’s morning briefing 26 August 2020: Hedge fund company, BH Macro (BHMG), which invests all of its assets in the Brevan Howard Master Fund, is having a strong 2020 with its shares up over 30%. This morning, it reported interim results, covering the period to 30 June 2020. NAV in the Sterling share class increased by […]
In QuotedData’s morning briefing 25 August 2020: Princess Private Equity says that its manager, Partners Group, has agreed the sale of its majority equity stake in PCI Pharma Services to private equity firm Kohlberg & Company and Abu Dhabi-based sovereign investor Mubadala Investment Company. Princess, alongside other Partners Group-managed funds, will retain a meaningful minority equity […]
In QuotedData’s morning briefing 24 August 2020: Schroder AsiaPacific (SOI) announced that Matthew Dobbs will retire from fund management in 2021. In accordance with a succession plan agreed with the board, he will hand over responsibility to Richard Sennitt as manager and Abbas Barkhordar as assistant manager. Robin Parbrook, who has extensive Asian investment management […]
The conundrum of what to do with the vast amount of vacant space in shopping centres has been staring landlords in the face for years. The solution has been mulled over countless times by the biggest landlords, but a deal to convert space left over by ailing department stores into logistics space has yet to […]
In QuotedData’s morning briefing 21 August 2020: JPMorgan US Smaller Companies (JUSC) reported interim results to 30 June 2020, with the total NAV return coming in at (4.9%). The benchmark Russell 2000 index delivered (6.8%) over the same period, in sterling terms. Small-cap shares have underperformed the tech-led led large-cap rally in US markets since March. […]
Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.
Due to data protection policies, USA residents can not access our data.
Your content has been curated