This sector includes mortgage companies, property management companies and REITs
In QuotedData’s other news 20 November 2019 Hansteen has bought seven multi-let industrial estates on the Newton Aycliffe industrial park in County Durham for £12m. The portfolio comprises 53 units totalling 341,620 sq ft, with individual units ranging in size from 820 sq ft to 32,648 sq ft. The contracted rental income is GBP1,094,000 a year (GBP3.55 […]
Grit Real Estate investing more in Botswana – Grit Real Estate Income is buying an additional 22.75% stake in Botswanan real estate company, Letlole La Rona Limited for US$ 13.8m (to be settled by issuing new ordinary shares in Grit). The vendor is Botswana Development Corporation Limited, a development finance institution founded in 1970, with the […]
Palace Capital, which owns a diverse portfolio of property in the UK regions, has reported a drop in net asset value (NAV) per share of 3.9% during the six months to the end of September. NAV per share fell to 391p during the period, compared to 407p at the end of March, while profit after […]
Hammerson sells Gloucester retail park – Hammerson has exchanged contracts on the sale of St Oswald’s Retail Park, Gloucester, to a local authority for GBP54m. The sale price reflects a net initial yield of 8.5%, and is 8% below the 30 June 2019 book value. The 20,900 square metre scheme, which is located to the north […]
Standard Life Property Income sells Denby logistics unit – Standard Life Investments Property Income Trust has sold its second largest investment, a logistics unit close to Derby, for GBP19.1m. The property was let until 2025 and the rental income represented 4.4% of the company’s income. The sale price was at the September valuation, and reflected a […]
In QuotedData’s other news 19 November 2019 Amedeo Air Four says that Emirates will take two of its A380s out of service for a while to allow it to install new premium economy cabins. This won’t affect Amedeo Air Four’s income but it thinks it might help when it comes to selling the planes at the […]
Capital & Counties has exchanged contracts for the sale of its interests in Earls Court, excluding Lillie Square, to APG and Delancey for £425m. The price is significantly short of the balance sheet value at 30 June 2019 of £508m. Payments will be made to Capital & Counties on a phased basis, with 45% payable […]
McKay Securities, the London and South East focused REIT, has reported a 20.8% jump in gross rental income to £12.61m in half-year results. The company said the increase was due to several lettings secured on development projects. It contributed to a rise in EPRA net asset value (NAV) in the six months to the end […]
Real Estate Investors adds Leamington Spa unit – Real Estate Investors (RLE), the midlands-focused REIT with a portfolio of 1.53m sq. ft. of commercial property in the Midlands property market across all sectors, has announced the acquisition of a fully-let, prime, mixed-use block on The Parade, Royal Leamington Spa, for £7.45m, delivering a net initial […]
Central London office developer Great Portland Estates announced earnings per share growth of 17.8% to 10.6p in strong half-year results. The company also revealed net asset value (NAV) growth of 1.8% to 868p per share, for the six months to the end of September. It posted portfolio valuation growth of 0.8%, rental growth of 1.0% (+1.4% offices, […]
Regional REIT announced it has grown its annual rental income by £2.2m so far this year through new leasing deals, during a third quarter trading update. The company, which is focused on building a diverse portfolio of income producing regional UK core and core plus office and industrial property assets, exchanged on 50 leases to new […]
Safestore, the self-storage specialist that has a portfolio in the UK and Paris, reported a 5.5% increase in revenues in a fourth quarter trading update. The company’s revenues for the full year to the end of October increased to £151.8m, from £143.9m last year. Occupancy across its portfolio, which comprises 122 sites in the UK […]
Urban Logistics REIT has announced an increase in net asset value (NAV) of 12.4% to 145.2p in interim results today, reaffirming the strength of the industrial sector. The specialist logistics REIT posted a 31.3% jump in net rental income to £5.8m in the six months to the end of September, while EPRA earnings per share […]
In QuotedData’s other news 14 November 2019 At the half-year stage (30 September in its case), Next Energy Solar’s NAV crept up to 111.2p from 110.9p, supporting a 6.7% return to shareholders. Dividends for the first half totalled 3.44p, up from 3.325p. Electricity generation was 5% above budget, powering the equivalent of 134,000 homes for the […]
CLS Holdings has exchanged contracts to buy an office in Harrow, north-west London, for £13.8m. It has acquired One Six Six on College Road, which comprises 34,655 sq ft of space and is currently multi-let to eight tenants with a weighted average unexpired lease term (WAULT) of 4.8 years to breaks and 7.9 years to expiries. The […]
Property giant British Land suffered a 5.4% fall in net asset value (NAV) while losses plunged further as the woes of the retail sector impacted on the group’s half-year results. The group’s NAV for the six months to the end of September fell to 856p, while its pre-tax losses jumped from £48m last year to […]
Demand for serviced office space in London remains buoyant as Workspace Group reports strong half-year results that has seen its net asset value (NAV) increased by 2.7% to £11.15 per share. The flexible office space provider has reported net rental income up 11% in the six months to 30 September 2019 to £60.1m, while its […]
Land Securities reported a £147m loss in half-year results to the end of September as the group’s retail portfolio continued to lose value following a raft of insolvencies and retailer collapses. The group posted a 3.2% fall in net asset value (NAV) per share to 1,298p from 1,341p as its portfolio lost £368m in value to […]
Assura, the healthcare property investor and developer, saw its net asset value (NAV) increase slightly to 53.5p and its portfolio value rise 3% in the six months to the end of September. However, pre-tax profit fell 2.7% to £36.4m, despite a 9.5% rise in net rental income to £50.6m. The group posted a 7.7% increase […]
Picton Property Income announced steady half-year results today that saw its net asset value (NAV) nudge up 0.9% to 94p per share. The slight increase in NAV was in part down to a 1.2% increase in the value of its property portfolio, driven by its large weighting to the industrial and office sectors. It posted […]
Picton completes Croydon office sale for £18.2m – Picton Property Income (PCTN) has completed the disposal of an office building in Croydon for £18.2m. Citylink, located on Addiscombe Road in Croydon, is a 48,000 sq ft detached office building constructed in 1986 and let to RBS and Fairfield School of Business. The building was sold […]
Civitas Social Housing quarterly update affirms regulator has no issue with model – Civitas Social Housing (CSH) has released a quarterly update, to 30 September 2019. Highlights: Annualised rent roll £46.5m (30 June 2019: £46.0m) IFRS NAV per share 107.23p (30 June 2019: 107.21p) 1.325p quarterly dividend declared EPRA dividend cover 88% (EPRA run rate […]
Big vote against AEW Long Lease chairman – at the Annual General Meeting of AEW Long Lease REIT, held on 5 November, most of the resolutions put to shareholders were approved overwhelmingly [as tends to be the case with most AGMs]. However, resolution number 3, which asked shareholders to approve the re-election of Steve Smith, […]
In QuotedData’s other news 6 November 2019 Symphony International reports a 10% drop in its quarterly NAV – from $1.0915 to $0.9921 – it says falls in the value of Minor International and writedowns in its unlisted portfolio are to blame RM Secured Lending has extended the deadline for its placing to 12 November in the […]
Warehouse REIT expanding apace – The UK specialist warehouse investor, Warehouse REIT (WHR), has announced interim results covering the six-month period to 30 September 2019. Results breakdown (notes around these figures can be found in the official release): Six months to 30 September 2019 30 September 2018 Revenue £13.6m £10.7m Operating profit before gains on […]
In QuotedData’s other news 4 November EPE Special Opportunities has appointed a new administrator (Not gone into administration as we first read the headline!!). Langham Hall Fund Management (Jersey) Limited replaces R&H Fund Services (Jersey) Limited. Globaworth is paying €185m for two Polish offices – Chmielna 89 is a 14-storey office development, situated directly adjacent to […]
In QuotedData’s other news 1 November 2019 RM Secured Direct Lending has renewed and amended its revolving credit facility with OakNorth. Under the terms of the amended facility, the company may draw down loans up to an aggregate value of GBP 10.5 million, on materially similar terms as the previous facility. The new facility will expire […]
Yew Grove buys Athlone office – Yew Grove REIT has reached agreement to purchase an office building at the IDA Ireland Business and Technology Park, Garrycastle, Athlone (situated in Ireland’s Midlands region). The purchase price for the building will be EUR12 million, which represents a net initial yield of 7.2 per cent. after accounting for […]
Empiric Student Property anticipating 10% increase in student revenues – Empiric Student Property (ESP) has provided a trading update: ESP say that student revenue is expected to be approximately 10% up in full year 2019 compared to full year 2018, driven by an increase in the number of beds, increased occupancy and an increase in revenue […]
In QuotedData’s other news 30 October 2019 Schroder European Real Estate has added €0.8m to its rent roll with three lettings at its St Cloud office complex and has drawn down another €4m on its loan to fund capital expenditure within its portfolio. Riverstone Energy reported a $275.8m unrealised loss for the third quarter of 2019. […]
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