This sector includes mortgage companies, property management companies and REITs
U and I Group, the specialist regeneration developer and investor, has sold three retail assets for a combined £22.4m. It has sold Crown Glass Shopping Centre in Nailsea for £11.15m; two units at The Killingworth Centre in Newcastle for £7.5m; and 89-107 Queen Street in Cardiff for £3.75m. The combined assets were sold marginally below their […]
GCP Student Living has said it intends to pay its third interim dividend but expects “materially reduced revenues” for the final term of the current academic year. The UK REIT said it has received around 74% of all budgeted revenues due to it this academic year but added that the closure of universities due to […]
Supermarket Income REIT (SUPR) has provided an update to the market in which it: reaffirms its commitment to pay its third quarterly dividend; confirms it received 100% of the expected rent for the quarter ended March 2020; announces positive results from two rent reviews; and provides a general update in regards to the impact of […]
British Land has suspended its dividend payments and said it was offering smaller shopping centre tenants a three-month rental holiday due to covid-19. The group said larger retailers and leisure tenants would be able to spread payments over the six quarters from September 2020. The company, which owns and develops office and retail property, said […]
Impact Healthcare REIT, which owns a portfolio of care homes in the UK, has provided a covid-19 business update. The group said the number of occupied beds in its portfolio has been stable, with 3,848 beds occupied on 3 January 2020, and 3,886 beds occupied on 20 March 2020. It added that a number of the group’s […]
Self-storage giant Big Yellow Group (BYG) has reported a drop-off in occupancy as a result of covid-19. The company said current like-for-like occupancy across its portfolio is 81.6% across 56,000 customers. In half-year results to the end of September 2019, like-for-like occupancy was 84.1%. The group said it had seen an increase in demand from […]
Intu Properties has said it expects to seek covenant waivers from its lenders as the impact of covid-19 hits its rental income. The group, which owns shopping centres in the UK and Spain, said it had received 29% of its rent for the second quarter when it fell due yesterday (25 March 2020). For the […]
In QuotedData’s morning briefing 26 March 2020: As the excitement of yesterday’s $2trn stimulus gave way to the reality of sharply rising cases in the US and stories of a potential uptick in cases in Japan (where the virus seemed to be under control) markets are falling once again. NB Private Equity has increased its borrowing […]
St Modwen Properties has said it is in a strong position to handle the disruption caused by covid-19. The group has adjourned its AGM, scheduled for 27 March 2020, and therefore payment of its final dividend for 2019 of 5.1 pence per share, which was due to be paid on 3 April 2020, as this requires […]
In QuotedData’s morning briefing 24 March 2020: UK goes into lock down, following a number of other European countries BlackRock Greater European will not hold a tender offer in May 2020, reasoning that the discount was under control ahead of the recent volatility Jupiter US Smaller Companies was beating its benchmark at 31 January 2020 […]
Several property companies have updated the market on the impact of Covid-19 on their business. Here we have rounded up the latest. Yesterday we reported updates from NewRiver REIT, Schroder REIT and Civitas Social Housing. You can read them by clicking the links. QuotedData has also published a piece looking at the likely long-term impact […]
The coronavirus has had a big impact on markets around the world, but the longer-lasting effects have yet to be realised. We have seen people’s day-to-day lives change, from stock-piling essential goods to working from home. Technology has enabled these things to happen, things like home delivery and conferencing call facilities. One of the knock-on […]
Civitas Social Housing has acquired a portfolio of properties for £19.6m, bringing its run-rate dividend cover to 100%. The group has completed the purchase of five freehold properties comprising 63 tenancies for £17.8m and exchanged contracts on three further properties comprising 11 tenancies for £1.8m. The properties are located in Hertfordshire, Shropshire and Tyne and Wear, over […]
NewRiver REIT will not pay a fourth quarter dividend, it has announced, due to the coronavirus pandemic. The company, which owns a portfolio of community shopping centres, convenience stores and pubs, said it is focused on cash preservation and reducing operational costs during this uncertain time. The decision not to pay a fourth quarter dividend, will […]
Empiric Student Property’s chief executive Tim Attlee will step down from the role in June 2020. The company made the announcement alongside full year results today. It said Attlee would remain in the position until the end of June 2020 and the board would commence an immediate search for his successor. Attlee co-founded and helped […]
Student accommodation provider Empiric Student Property said it had so far not seen a “negative impact on reservations from international students for the 2020/21 academic year” as a result of the Covid-19 pandemic. In full year results for 2019, the group said as of today, bookings for the 2020/21 academic year were “very much in […]
Warehouse REIT, the UK REIT that invests in and manages urban and ‘last-mile’ industrial warehouse assets in the UK, has suspended its fund raise amid the current market uncertainty caused by Covid-19. The company announced on 17 February that it intended to raise up to £100m through a placing, with a general meeting arranged for […]
Real Estate Investors, the REIT focused on the Midlands, saw revenues increase 6.4% in 2019. The company reported revenue of £16.6m in full year results, up from £15.6m in 2018. Underlying profit before tax was also up, by 11.1%, to £8.0m. The group’s portfolio, which is valued at £228.9m, produces an annualised rental income of […]
Tritax Big Box REIT reported a 7.7% increase in operating profit in 2019. The group, which owns a portfolio of ‘big box’ logistics warehouses in the UK, said profit for the year ended 31 December 2019 was £122.5m compared to £113.7m in 2018. It also said its contracted annual rent roll was up 3.4% to […]
Estate agency group LSL Property Services has pulled out of negotiations to buy fellow estate agent Countrywide. It was announced last month that the two companies were in discussions about an all-share merger, but LSL today said talks were off. The £500m tie-up would have brought together two of Britain’s biggest listed estate agents. LSL […]
In light of cov-19, it has been announced this afternoon that Master Investor, the UKs largest private investor show, has been moved to Saturday 5 December 2020. The event was originally scheduled for Saturday 28 March 2020. Click on the following link for more information: https://quoteddata.com/events/master-investor-uks-largest-private-investor-show/
Secure Income REIT reported a 7.6% increase in net asset value (NAV) in 2019. The group, which owns a £2.1bn portfolio of long-let property, said NAV per share grew to 431.1p in 2019 as the like-for-like value of the company’s portfolio rose by 4%. The growth helped Secure Income REIT deliver a total shareholder return […]
Intu Properties has warned it could go under after reporting a £2bn loss in 2019. The shopping centre owner said the spate of retailer failings had resulted in the value of its properties falling almost £2bn (or 22.3%) to £6.6bn. Intu’s debt totals £4.5bn, giving it an unhealthily high loan-to-value ratio of 67.8%. Chief executive […]
In QuotedData’s other news 12 March 2020 Markets dive following EU/US travel ban Volta Finance is engaging with the shareholders that voted against the re-election of its directors back in December 2019. 37% of votes were cast against these resolutions. Volta says it is not sure why. Ruffer says its NAVs might be slightly misleading because […]
Countrywide, the estate agency group, has announced that the proposed sale of its commercial property arm, Lambert Smith Hampton (LSH), has fallen out of bed. The company had agreed a deal with John Bengt Moeller to sell the business for £38m in November last year but said Moeller “failed to complete the transaction in accordance with […]
In QuotedData’s other news 11 March 2020 Bank of England cuts rates to 0.25% from 0.75%. The new rate is the lowest in the UK’s history. RDL Realisation should have about $8.7m in cash following its $7m (43 cent/33p per share) distribution paid in February. Its portfolio was valued at $33m at the end of January. […]
Impact Healthcare REIT has agreed terms on a trio of acquisitions for a total of £61.1m. The group, which owns a portfolio of healthcare properties, has completed the acquisition of a portfolio of care homes, has exchanged contracts to acquire a second portfolio and has entered into a pre-let forward funding arrangement with an existing tenant. […]
In QuotedData’s other news 5 March 2020 Sirius Real Estate has secured €50m funding through a Schuldschein loan offering a blended interest rate of 1.60%, with an average maturity of 3.7 years. Urban Logistics REIT has topped up the £130m it raised the other day with a further £6.1m from its open offer and offer for subscription. […]
Embattled shopping centre landlord Intu Properties has failed in its attempts to raise up to £1.5bn of emergency cash and could be in trouble of breaching debt covenants by July. Intu had, over the past several months, been engaged in extensive discussions with its shareholders and potential new investors regarding a possible equity raise of […]
In QuotedData’s other news 3 March 2020: AEW UK Long Lease REIT has changed its name to Alternative Income REIT Gresham House Energy Storage managed to raise £31m, despite the ongoing market volatility. It will issue 30m shares at 104p each. The dispute between Pollen Street Secured Lending and its manager, Pollen Street Capital rumbles on. […]
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