Over the year to the end of October 2013 Safestore had to contend with the impact of the imposition of VAT on UK self storage and this, they say, had a knock-on effect on revenues which fell by 2.7%. Earnings per share and EBITDA moved ahead however as borrowing costs fell, occupancy rates in France rose, and […]
Riverstone Energy has announced that Liberty Resources II, its largest holding, has bought a portfolio of oil & gas assets in North Dakota’s Williston Basin for $455m. Altogether the acquisition represents 53,000 acres and 4,000 barrels of oil equivalent per day production.
LMP has bought the Superdrug distribution centre in South Elmsall, Doncaster for £13m, equivalent to an initial yield of 7.3%. The 292,500 sq ft centre is located two miles from junction 38 of the A1(M) motorway and is fully let to Superdrug until 2025 with a break clause in 2020.
MedicX has announced that it has acquired a specialist primary care medical centre in Cardonald, Glasgow for £3.2m
ACD has been buying back shares, subject to having available liquidity available after paying dividends and maintaining its currency hedging programme, with the aim of keeping its discount at or below a 10% discount. the Board has decided to reduce this target to 7.5%.
After announcing on 5 December 2013 that it would not proceed with its placing, open offer and offer for subscription, IGRE’s Board has been considering the future of the company. They believe it is in shareholders’ best interests to continue with the fund. Shareholders will soon be asked what they think – should the fund wind […]
The EDIN Board has appointed Mark Barnett as manager of the fund with immediate effect, keeping the management contract at Invesco Perpetual. EDIN has also cut its fee to 0.55% of the market capitalisation and no performance fee. In addition any performance fee payable for this year will be capped at £7.5m.
Over the six months to the end of December 2013, AGIT’s ordinary share NAV rose by 41% and the share p[rice by 41.2%. The zero dividend preference share NAV rose by 3.3% and its share price by 0.8%. The FTSE All-Share rose by 11.4% over the period while the Numis Small cap Index excluding investment […]
ND Distressed Debt is proposing to create a new class of shares. This new “Global” portfolio will invest in the global distressed debt market with a particular focus on Europe and North America. The manager will have until 31 March 2017 to invest the issue proceeds and after this date all capital and profit from […]
PHP has made Nexus Tradeco its sole advisor as Nexus will take on non-property services from JO Hambro Capital Management. At the same time, PHP has renegotiated its property advisory fee to reflect the recent growth of the business. The overall fee will fall. Old fees were: First GBP50 million 0.5500% Between GBP50 million and GBP350 million 0.4125% […]
GCP Infrastructure has invested just shy of £5m in loan notes with a yield of 9.3% at 20 year maturity. The borrower is GCP Rooftop Solar 4 Limited – a portfolio of domestic solar panel installations installed by A Shade Greener. The loan will be serviced from income derived from the Government’s Feed-in-tariff scheme. The […]
Like for like occupancy up 30bps to 97.1% 525,000 sq ft of lettings or renewals in Q3 with rent 5.3% ahead of ERV – split 386,000 sq ft retail and 139,000 sq ft offices. £405m of disposals including Eastgate in Basildon and a further £200m in the pipeline. £196m of acquisitions including £83m of Sainsbury’s […]
FSFL has announced that it expects all its IPO proceeds to be invested in fully operational and grid connected assets by the end of Q1 2014. The company’s largest asset, Wymeswold in Leicestershire (pictured), is generating electricity at rates 15% ahead of target. Foresight also say that they are on-track to pay the planned 6p per […]
DIVI’s interim accounts covering the six months ended 30 November 2013 show its net asset value rising by 19.2% – a good result when compared to the FTSE All-Share Index (up 2.1% or the FTSE Small cap ex Investment companies (up 15.9%). This translated into a 21.6% return for shareholders as the shares finished the […]
International Public partnership is buying all but 3% of a PPP project that is building a 55,000 sqm office for the Federal German Ministry of Education & Research in Berlin (estimated completion is July 2014). The cost to INPP is €11.9m.
LMP has sold its Odeon Multiplex in Dudley for £7.7m, equivalent to a yield of 5.95% (falling to 5.8% in June). LMP bought the cinema as part of a package of ten. these were acquired in November 2013 for £80.6m, equivalent to an initial yield of 7.2%.
HICL has invested in two new investments – Holdfast Training Services (a 30 year concession to design, build, refurbish and maintain 32 buildings, 21 refurbishments and five training areas across the UK for the Royal School of Military Engineering) and the Sheffield BSF Schools Project (a 27 year PFI deal to build, finance, maintain and […]
VNH has announced interim results covering the six month period ended 31 December 2013. During this period the benchmark index, the VNI, rose by 5.4% in US dollar terms, by contrast, VNI’s net asset value rose by 13.2%. VNH’s discount widened however, its share price rose by just 3.4% .
BlackRock Commodities Income’s full year results for the 12 months to the end of November 2013 reflect a difficult period for investors in commodity related assets but were well ahead of its benchmark. The net asset value total return was a decline of 5.9%. the share price return was negative 6.0%. By contrast the Euromoney Global Mining […]
DREF has announced today that the master fund has realised three of its mezzanine loan investments (numbered one, three and eight – DREF does not report who it lends money to but these borrowers were against a retail property in Denmark, against eight hotels in Germany and against an office and light industrial park in France). […]
Jupiter European has released results for the half year to 30 November 2013. Over the period the fund lagged the return on the FTSE World Europe ex UK index – the NAV returned 3.6% while the index returned 6.8%. The Board say relative performance has improved since the end of the period and now for […]
New River Retail has raised £85m of extra capital in a placing. 32m new shares were issued at 265 pence per share. The new shares will start trading on 21 February 2014. NRR is a real estate investment trust (REIT) specialising in retail property. It describes itself as one of the UK’s largest value-creating owners and […]
Midas Income & Growth has announced that Miton Capital Partners, the fund’s manager, has been sold by Miton Group : MGR to Seneca Investment Managers Limited, part of Seneca Partners Group, based in Liverpool. The fund will continue to be managed by Alan Borrows, assisted by Simon Callow. The Board is happy that Seneca will be […]
DCG Iris, a fund investing in insurance-linked contracts, has today released its interim results for the six months ended 30 November 2013. On 30 November IRIS’s NAV was 99.46p, slightly below the level at close of business on 31 May 2013 when the NAV was 99.79p. Including income however the total return for the period […]
IIT has announced its final results for the 12 months ended 30 November 2013. Over the year Independent’s net asset value total return (including income) was 20.2%. By comparison the FTSE All-Share Index returned 19.8% and the FTSE World Index 22.5% over the same period. IIT’s discount narrowed during the year, boosting the return to shareholders to […]
Redefine has sold St. Anne’s House, Croydon (an empty 75,000 sq ft 1960’s office building with planning permission to convert into a 144 bedroom hotel and 46 residential units) for £8.4m – that is £3.4m than the value Redefine ascribed to it in its valuation at the end of August 2013.
FMPI has announced its interim results covering the six months ended 30 November 2013. The net asset value returns for the period were 2.9% for the Income shares and 7% for the Growth shares. This compares to a 3.9% return on the FTSE All-Share Index and 3.1% on the FTSE Equity Investments Index. The Board say […]
