Tritax Big Box REIT is buying the Next Group distribution warehouse in West Moor Park, Doncaster for £60m – this equates to a net initial yield of 6.07%. Barclays Bank is providing a £16.4m facility , secured against the warehouse (a loan to value of 27%). Tritax Big Box REIT’s finance, post this loan, will […]
New River Retail has bought four retail parks for £17.3m. The purchase price is equivalent to an initial yield of 9.1%. Overall the portfolio adds up to 196,300 sq ft of lettable space which is fully let to six tenants with an average unexpired lease length over 7 years. New River Retail says it has bought […]
Monks Investment Trust has published its results for the year that ended 30 April 2014. Over the year the fund delivered a total return on net assets of 5.2% which compares to a return on the fund’s benchmark index, the FTSE World Index, of 6.8%. The return to shareholders 5.4%. Dividends for the year were unchanged […]
The Establishment Investment Trust has published its results for the year that ended 31 March 2014. Over that period its net asset value fell by 20.4% and its share price fell by 17.4%. By comparison, the MSCI All World Index rose by 6.2% and the MSCI AC Asia ex Japan Index fell by 6.4% over […]
Masawara has published its final results for the year that ended 31 December 2013. Shareholders’ equity fell by $9.6m to $72.6m. The managers say that the company has been adversely affected by a slowdown n the Zimbabwean economy. TA Holdings, 41% held by Masawara, wrote down the value of their investment in Sable Chemical Industries by $13.7m […]
ARC Capital Holdings has been award RMB90m plus interest and arbitration fees by the China International Economic and Trade Arbitration Commission in respect of ARC Capital’s sale of Jiadeli Supermarkets. The sale concluded in October 2010 but the buyer, HNA Group, and ARC Capital were unable to agree on the amount of a “holdback” related to […]
Kennedy Wilson Europe Real Estate is paying €296m for a portfolio of 21 assets including nine office , two mixed, five car showrooms, three leisure, one retail and one warehouse – they bought the loans secured against this portfolio earlier in the year. The Portfolio currently delivers gross rental income of £25m per annum but 10% of […]
BBGI has bought the M1 Westlink road project in Belfast. Completed in November 2009, the 60km motorway and short dual carriageway section in the heart of Belfast generates revenues based on the availability of the asset rather than the volume of traffic using it. The concession expires in 2036.
Alpha Pyrenees Trust has announced that it has sold a 5,180 sqm multi-let warehouse and office investment, in Vitry-sur-Seine near Paris, for €5.7 million – 7.5% more than its book value. At the same time Alpha Pyrenees Trust has announced that it has sold the larger of the two vacant warehouse units located in Zaragoza, Spain for €1.3 million (book […]
Edinburgh Worldwide has released interim results that cover the six months that ended 30 April 2014. Approximately half way through the period Edinburgh Worldwide changed its remit and moved its portfolio from investing predominantly in large cap. stocks to investing in those with a market capitalisation of £5bn or less (only about 20% f the […]
Sadly, Acorn Income Fund has announced that John McClure, co-manager of the fund, has died. John was involved with the management of the fund from its inception and although Unicorn Asset Management say Simon Moon and Fraser Mackersie, the other co-managers of the Company’s smaller companies portfolio who have worked with John since 2008 will […]
Worldwide Healthcare has published its results for the year that ended 31 March 2014. Over the period the fund’s net asset value generated a total return of 25.9%. The fund’s rating improved, driving the total return to shareholders for the period up to 30.8%. The MSCI World Healthcare Index delivered a return of 14.9% over […]
Fidelity China Special Situations released its annual results on 6 June. These showed that over the year to the end of March 2014, the fund’s net asset value rose by 19.5% and its share price rose by 14.1%- in marked contrast to the fund’s benchmark, the MSCI China, which fell by 6.9%. The dividend increased from […]
Camper & Nicholson Marina has published its results for the year that ended 31 December 2013. While somewhat out of date now, the figures show that over the year its net asset value per share fell from €0.28 to €0.17. The company intends to raise £2.4m by issuing shares at 10p. The issue is underwritten […]
Starwood European Real Estate Finance has lent £27m against an office building in Park Royal in London. The loan will refinance the acquisition of and fund the refurbishment of the 160,000 square foot building. The loan has a three year term and will earn “a solid single digit return”. The company has now invested 89% of […]
Hansteen Holdings has today announced that it has sold a portfolio of ten multi-let industrial estates and an office park. The portfolio is held through Ashtenne Industrial holdings, a vehicle that Hansteen has a 36.7% interest in and is investment manager of. The 900,000 square foot portfolio fetched £62m (a price equivalent to an initial yield […]
Personal Assets Trust has published its results covering the year ended 30 April 2014. Over the year the company’s net asset value fell by 5.1%. Over the past three years Personal Assets Trust has underperformed both inflation and the FTSE All-Share Index. The problem, says Sebastian Lyon – the fund manager, has been the funds […]
Perpetual Income & Growth has published its annual accounts for the year that ended on 31 March 2014. Over that period Perpetual Income & Growth outperformed its benchmark (the FTSE All-Share Index) by some margin, delivering a total return on net assets of 18.8% at the portfolio level and 19.4% including the effects of marking its […]
Martin Currie Pacific has published its results for the thirteen months that ended on 31 March 2014. The Company has changed its year end from end February to end March hence the thirteen month period. Over the period the total return on net assets was -10.7% – an underperformance of the MSCI All Countries Asia […]
Workspace Group has announced results for the year ended 31 March 2014. Over the year its EPRA net asset value rose by 43% to £4.96 and they raised the total dividend for the year by 10% to 10.63p . The rise in the net asset value was driven by a 27% increase in the valuation […]
Tritax Big Box REIT has refinanced two recent acquisitions – the Marks & Spencer East Midlands Distribution Centre at Castle Donington, Leicestershire and the Tesco Distribution Centre at Southmead Industrial Estate, Didcot. Barclays Bank is providing loans of £49.3m and £12.2m respectively, secured individually on the assets. They are paying slightly more for the M&S centre financing […]
Terra Capital has published its results for the year ended 31 December 2013. While somewhat out of date now, the figures show a 10% increase in Terra Capital’s net asset value to 96 cents per share. The Chairman draws attention to the fact that this was achieved despite not being fully invested throughout 2013 – he […]
Standard Life Inv Property Income has sold its largest investment – a logistics unit in Bolton let to Tesco. The price it got for the property was £16m which equates to a yield of 7.25%. The reason for the sale, says Jason Baggaley, Standard Life inv Property Income’s manager, is that Tesco’s lease on the property […]
Henderson Diversified Income has published its interim accounts covering the six months to the end of April 2014. Over that period the fund generated a total return on net assets of 4.7%. The share price did not keep pace with the net asset value so the return to shareholders was 3.5%. The fund targets returns of 1.25% over LIBOR […]
LondonMetric Property plc has sold a 22,000 sq. ft. retail development in Berkhamsted let to M&S Simply Food and Costa Coffee at a price equivalent to an initial yield of 4.5%; is getting £15.2m for its Odeon Multiplex in Huddersfield (an initial yield of 6.1%); and is selling three DFS warehouse units in Ashby, Droitwich and Bury […]
Dragon Ukrainian Properties & Development has published results for the year ended 31 December 2013. These show its net asset value falling from $1.65 to $1.48 as they were hit by falling property valuations, notably in the value of their land bank, and also by the fall in value of the Hryvnya, the Ukrainian currency. […]
BP Marsh & Partners has published its results for the year ended 31 January 2014. The net asset value rose to 202p from 190p and the company declared an increased dividend for the year, and said it hoped to continue to pay a final dividend of at least 2.75p per share in the coming two years. BP […]
EIH has released its annual results for the year ended 31 December 2013. These are somewhat out of date now but show the net asset value rising from 72.7 cents to 74.7 cents per share – an increase of 2.8%. EIH also distributed 2 cents per share during the year. The company’s holding in Gland […]
British Land and the Crown Estate are selling Leamington Spa shopping park (held through a 50:50 joint venture) for £72m. The price is equivalent to an initial yield of 4.4%. The buyer is Ignis UK property Fund. Under British Land’s management the park has been refurbished and the tenant mix upgraded.
British Empire’s interim results for the six months that ended 31 March 2014 show the fund generating a total return on net assets of 4.8%, beating its benchmark (the MSCI All Country World ex US Index) which returned 2.4% but lagging the 5.6% return on the MSCI All Country World Index and the 5.5% return on […]
