This sector includes mortgage companies, property management companies and REITs
AEW UK REIT posted a marginal fall in its net asset value (NAV) for the three months to the end of December 2019 The company, which owns a diversified portfolio of 35 regional UK commercial property assets, reported NAV of 97.24p per share for the quarter, a decrease of 0.1% on September’s NAV of 97.36p per share. The […]
Workspace Group reported an increase in enquiries and lettings for the fourth quarter of 2019 despite the increased political uncertainty leading up to the general election. The company had 1,001 enquiries per month in the three months to the end of December (up from 907 in 2018) and made 113 lettings per month (2018: 98) […]
In QuotedData’s other news 15 January 2020 Standard Life Private Equity said that Peter McKellar, global head of private markets at Aberdeen Standard Investments, the investment manager, bought £500,000 worth of shares in the company – a massive vote of confidence we think, and taking advantage of the discount that the shares trade on. Chenavari Toro […]
London property developer Helical has let the final floor of The Tower office scheme, near Old Street, taking the building to 100% let. Brilliant Basics, an Infosys Company and existing occupier, has taken the 11,331 sq ft 15th floor on a five-year lease, taking its total footprint to 40,479 sq ft across four floors as […]
The PRS REIT has provided an update for the three months to the end of December 2019 during which it completed 256 new rental homes bringing its total portfolio to 1,617 homes. The new homes will contribute £2.6m per year to the company’s rental income, increasing its annualised rental income to £14.9m. The group said demand […]
Macau Property Opportunities (MPO) has provided an update covering the six month period to 30 September 2019. Over the period, shareholders voted to extend the company’s lifespan by one year until the next continuation vote in November 2020, in order to enable an orderly ongoing divestment process. Revised fee structures for the manager and the administrator […]
Assura, the investor and developer of primary care property, announced a trading update for the third quarter ending 31 December 2019 in which it made six acquisitions and completed its third development of the year. The company now has a portfolio of 563 properties that produces an annual rent roll of £105.8m. The six acquisitions competed […]
Great Portland Estates has exchanged contracts to sell a central London office let to Kurt Geiger for £64.5m. The sale of 24/25 Britton Street, which is located in the City fringe area, to an overseas investor reflects a net initial yield of 4.07% and a capital value of £1,255/sq ft. It was also sold at […]
In QuotedData’s other news 10 January 2020 Ground Rents Income Fund has refinanced its debt, reducing its overall interest cost from 3.37% to 2.76%, increasing the loan to value covenant on its debt from 40% to 45% (giving it more headroom to borrow if it chooses – the current loan to value ratio is 24%) and […]
CLS Holdings, the UK, France and Germany focused property company, has exchanged contracts to acquire an office building in Staines for £19m. It has bought ‘TWENTY’ Kingston Road, which comprises 44,230 sq ft of grade A, multi-let office space, for a net initial yield of 5.3%. The asset is currently let to four tenants with a WAULT […]
Real Estate Investors (RLE) has released a trading update with CEO Paul Bassi, commenting, “Despite high levels of economic and political uncertainty creating a relatively static market in 2019, we have increased our revenues and covered our dividend payments, with contracted rents rising to £17.66m, up 3.85% over the year. Looking ahead into 2020, we anticipate […]
Triple Point Social Housing adds 4 supported living properties – Triple Point Social Housing (SOHO) has completed the acquisition of 4 supported housing properties, totalling 41 units in total, for around £6.3m (excluding costs). The properties are located in Yorkshire (35 units) and the East of England (6 units). The company has entered into new full […]
Urban Logistics REIT (SHED) has provided an update on its pipeline of acquisitions. SHED says that its manager, Pacific Capital Partners Limited, has significant experience in sourcing quality properties off-market with opportunities for significant value creation. It constantly reviews the market for potential investment opportunities and has identified a large pipeline of high-quality logistics properties […]
Sirius Real Estate (SRE), which operates business parks providing conventional and flexible workspace across Germany, has completed the acquisition of two business parks for total of €33.4m. The company has bought Neuss II, a business park near Düsseldorf, and Neuruppin business park, in the Brandenburg region, reflecting an aggregate EPRA net initial yield of 6.8%. […]
Regional REIT has acquired an office asset in one of Scotland’s premier business parks for £10.3m. The office asset comprises 43,676 sq ft over three floors, currently 100% let to John Menzies, an international aviation business and one of Scotland’s largest companies. The current contracted rent of £880,000 a year provides a net initial yield […]
CLS Holdings has sold a portfolio of government-let regional offices in the UK for a total of £65m to Elite Capital Partners – a Singaporean investment firm. The 19 offices are located across the UK outside of the South East and, following major lease re-gears last year, have less active asset management potential. The group […]
Regional REIT has announced a series of lettings 3% ahead of the expected rental value (ERV). The six leasing deals, which are spread across the portfolio, amount to a total rental income of £589,856 a year and comprise: A 9,581 sq ft renewal at Star House in High Wycombe to Star Micronics for five years […]
Derwent London has exchanged contracts to sell its long leasehold interest in 40 Chancery Lane for £121.3m. The 103,700 sq ft office and retail building is let to Publicis Group until July 2035, with a tenant break in July 2033, at a net income of £5.5m per annum. The sale price represents a net yield to […]
Tritax EuroBox, which invests in Continental European logistics real estate assets, has acquired a prime newly developed logistics property at Breda, in the Netherlands, for €50.3m. The deal reflects a net initial yield of 4.6%, with the potential to add value through the letting of the vacant units. The property, purpose-built in November 2019, is situated in an […]
GCP Student, the UK REIT focused on student residential assets, has rasied £77m from an over-subscribed placing. It had targeted proceeds of £75m but was boosted by an application in respect of £50m of gross proceeds from APG Asset Management in its capacity as the discretionary manager of various pension funds. A total of 41,365,400 shares […]
McKay Securities has sold a prime City of London office for £76.5m. The REIT, which is focused on the London and South East office and industrial markets, has disposed of 30 Lombard Street at a net initial yield of 4.16%. McKay, which completed the redevelopment of the 58,500 sq ft building in early 2019, pre-let […]
Intu Properties has struck a deal to sell the Puerto Venecia shopping centre in Spain for €475.3m. The company, which owns the asset in Zaragoza in partnership with Canada Pension Plan Investment Board, will receive €237.7m from the deal as it looks to address its balance sheet with the value of its UK shopping centres continuing […]
U+I Group, the specialist regeneration developer and investor, has submitted plans for its £200m mixed-use scheme at Faraday Works in Charlton, Greenwich. Formerly known as Westminster Industrial Estate, this is one of two planning submissions totalling £1bn gross development value (GDV) outlined at the interim results on 20 November 2019. U+I expects an outcome in the […]
Globalworth, the office investor in Central and Eastern Europe, has agreed a deal to acquire an office in Kraków, Poland. The asset, Podium Park, comprises three connected 11-storey buildings which will, on completion, have a total lettable area of over 55,000 sq m, and it is one of the few office projects in Poland with BREEAM […]
LondonMetric Property has sold four distribution warehouse assets for a combined £145.3m. Across three deals, the company has disposed two mega box warehouses and two regional distribution warehouses as it continues to reduce it ‘big box’ exposure. In Newark, it has sold a 726,000 sq ft warehouse to an international investor for £80.8m, reflecting a net […]
In QuotedData’s other news 20 December 2019 Polar Capital Global Healthcare reported a -1.2% total return on NAV for the year ended 30 September 2019, behind the MSCI ACWI Health Care Index which returned 3.1%. The return to shareholders was -1.3%. The dividend has been upped to 2.1p from 2p. The biggest drags on performance were healthcare […]
In QuotedData’s other news 19 December 2019 GCP Student Living hopes to riase £75m from a placing of shares at 186p (a 10.4% premium to the EPRA NAV and a 6.3% discount to the current share price). The money would be used to help fund the purchase of Scape Canalside in Mile End, London. EJF Investments […]
Stenprop has agreed a deal to sell its largest asset, Bleichenhof in Hamburg, for €160.15m as it continues its transition to a fully-focused UK multi-let industrial (MLI) owner. The sale of the office and retail asset will see UK MLI asset rise to 56% of Stenprop’s portfolio, from 44.6%. The Bleichenhof property makes up around 21% […]
Hansteen Holdings has agreed terms to sell the company to Blackstone for £500m. Under the terms of the deal, Hansteen shareholders will receive 116.5p a share, which represents a 10.3% premium to yesterday’s closing price and an 18.1% premium to the average price for the last three months. It also reflects an 11.6% premium to the […]
Shaftesbury has pre-letted almost 50% of the office space at its 72 Broadwick Street redevelopment in Carnaby Street to American fitness and lifestyle brand Equinox. The group has entered into an agreement to let 32,000 sq ft of space at the 66,000 sq ft building. It is expected the space will be handed over for fitting out […]
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