This sector includes mortgage companies, property management companies and REITs
2018 a year of progress for Empiric Student Property – Empiric Student Property (ESP) has announced full year results to 31 December 31 2018. These re-affirm the fundamentally strong shape UK higher education is in on the demand side. Current occupancy stands at 97%, up 5% from year-end 2017. Key highlights from the fund’s financial […]
Real Estate Investors continues to see HS2 related demand – Real Estate Investors (RLE), which focuses almost exclusively on commercial properties in the Midlands, had a solid year to December 31, 2018, as it continued to see the demand impact from the High Speed 2 rail project-related population migration from London, driving increased value in […]
Rouble weakness weighs down Raven Property’s sterling returns – Russia-focused Raven Property (RAV) made note of improving fundamentals in its year-end results to December 31, 2018, which saw vacancy rates shift down and rents increase as the wider economy strengthened. However, while the rouble valuation of the investment portfolio was up 8%, it was down […]
Primary Health Properties to acquire new Kew medical centre for £4.6mn – Following its merger with MedicX Fund, Primary Health Properties (PHP) has announced that forward funding is in place for it to acquire a new primary healthcare medical centre in Kew, London. The property is due to be completed in October 2019 and will […]
New shares in Primary Health tradeable following MedicX merger – following on from the announcement on 14 March 2019 by MedicX Fund Limited and Primary Health Properties (PHP) that their merger had become unconditional in all respects, PHP announced that dealings in the new shares became effective at 8.00 a.m. today (March 15, 2019). The […]
Capital and Regional has announced its full year results for the year ended 30 December 2018. During the year, the company says that there has been an increase of 4.8 per cent in Adjusted Profit to £30.5 million from £29.1 million. It says that the increase has been achieved despite the headwinds from both structural […]
Sirius Real Estate has announced that it has completed the acquisition of a business park in Bochum in the Ruhr region of Germany, for a total consideration of €25.7 million, which equates to an EPRA net initial yield of 8.9%. The seller is a fund managed by DOBA-Grund Beteiligungs, Munich, which is part of the […]
Globalworth Real Estate sees strong growth in portfolio – Globalworth has released its preliminary results for the year ended 31 December 2018. Things are looking good here – last year Globalworth made €538.3m of acquisitions in Poland and Romania, totalling eight new investments. The combined portfolio rose by 35.6% to €2.5bn, split 51% in Romania, […]
Schroder Real Estate sells Victory House in Brighton – Schroder Real Estate Investment Trust has exchanged unconditional contracts to sell Victory House in Brighton to an institutional purchaser for GBP36.1 million. The disposal is scheduled to complete on 30 April 2019. Victory House is an 84,988 sq ft office building in Brighton city centre, let to BUPA […]
Schroder Real Estate sells Basingstoke warehouse – On 7 March 2019, the UK-focused REIT announced that it has scheduled sale of its Basingstoke retail warehouse for 29 March 2019. The sale has been confirmed for £12m, which compares to an independent valuation of the property at 2018 year end, pricing it at £12.5m. This reflects […]
Symphony International suffering, NAV and share price decline sharply – Symphony International Holdings has realised a substantial loss on both share price and NAV in their 2018 results. NAV declined 24% in 2018, moving from $1.27 per share to $0.96 per share, a roughly 24% decrease. This comes as a result of one of the […]
Secure Income has landmark acquisition year – Results for the 2018 year have been published today for Secure Income REIT. EPRA NAV in total returns terms for the year increased 11.9%, with shareholder returns increasing by 8.3% alongside it. This is starkly different from the UK REIT sector, which returned -13.0% for shareholders on average. […]
Tritax Big Box expands portfolio in 2018 – Tritax Big Box has released its 2018 results today. Some of the highlights are: dividends declared in 2018 totalled 6.70p per share, meeting its target. The earnings per share increased by 8.0% to 6.88p per share in 2018. EPRA NAV per share increased 7.4% resulting in a […]
Aberdeen Standard European Logistics secures debt facility – Aberdeen Standard European Logistics Income has completed the purchase of its property in Erlensee, Germany (gross value EUR33.3 million / net initial yield of 5.2%) and has now completed the acquisition of the freehold logistics warehouse near Krakow, Poland f (net value of EUR24.5 million / net initial yield […]
Alpha Real sells Monk Bridge residential site – Alpha Real Trust has announced the sale of its residential development site, “Monk Bridge” in Leeds to Highline Holdings Limited and Whitehall Holdings Limited, wholly-owned subsidiary entities of City Developments Limited for a total transaction value of £15.4 million. Alpha Real bought the development site in December 2015 […]
Sirius enters jv with Axa – Sirius Real Estate has formed a real estate investment joint venture with clients represented by AXA Investment Managers – Real Assets. AXA IM – Real Assets, acting on behalf of its clients, will own a 65% interest and Sirius will own the balance of 35%. The JV will be called […]
Unite confident as focuses on high quality universities – Unite Group has published results for the year ended 31 December 2018. Highlights were: A 10% increase in EPRA NAV to 790p EPRA earnings up 25% to GBP88.4 million, 34.1p per share (2017: GBP70.5 million and 30.3p) 98% occupancy and like-for-like rental growth of 3.2% (2017: 99% […]
RDI REIT shopping centre loan breached covenant In a trading update released on 28 February 2019, RDI REIT notes that four of its UK shopping centres namely Grand Arcade, Wigan; Weston Favell, Northampton; Birchwood, Warrington and Byron Place, Seaham, are financed by a long-term fixed-rate debt facility with Aviva. Given the deterioration in values for […]
LXB Retail Properties (LXB) has announced its annual results for the year ended 30 September 2018. In his chairman’s statement, Phil Wigely says that LXB has only a few weeks left until the anticipated de-listing and dissolution of the Company (subject to shareholders approve the necessary resolutions at an EGM scheduled for late March, and […]
Derwent London delivers NAV growth despite Brexit – Derwent London has published results for the year ended 31 December 2018. Highlights are: Derwent London delivered a total return of 5.3% EPRA NAV 3,776p per share, up 1.6% EPRA earnings of 113.1p per share, up 20.0% from 94.2p in 2017 (but these include some one-off items, underlying […]
Urban Logistics REIT has announced that it has exchanged contracts with Carbide Properties Limited, conditional on receipt of planning permission, for the forward funding of two high-quality urban logistics assets at Staffordshire’s Stone Business Park and Leicestershire’s Lime Kilns Business Park in Hinckley. The gross development value of the total acquisition is £15.4 million and […]
LXi REIT has announced that it has acquired a Bupa care home in Bristol for £13.8m. The Property, comprising a modern, high quality care facility providing nursing and residential care predominantly for privately funded patients, and reportedly benefits from high underlying occupancy levels. The purchase was conducted off-market and has been funded using the Company’s […]
Hammerson steps up disposal programme – Hammerson has published results for the year ended 31 December 2018. Highlights were: A 4.9% fall in EPRA NAV to 738p Impacted by a weaker investment market, UK property values fell during the second half of 2018 by -9.3%, the overall portfolio produced a 12 month capital return of -4.3% […]
intu reports significant fall in NAV – intu has released results for 2018 that show a drop in its EPRA NNNAV from 349p to 271p. Underlying earnings per share also fell – from 15p to 14.4p. The fall in NAV pushed up the company’s debt ratio to 53.1% from 45.2%. It said “In a challenging […]
AEW UK Long Lease REIT (AEWL) has announced that it has acquired a nursery property, 53 Victoria Road, in central Southampton. The property, known as the YMCA Woolston Nursery, was purchased by way of a sale and leaseback agreement with YMCA Fairthorne Group, a regional operation of the charity YMCA (the world’s largest youth charity). […]
Aberdeen Standard European Logistics invests in Krakow – Aberdeen Standard European Logistics Income has signed an agreement to acquire a freehold logistics warehouse in Krakow, Poland for a net value of EUR24.5 million providing a net initial yield of 6.8%. The vendors are Panattoni and Marvipol, well-known international real estate developers specialising in logistics. The transaction is […]
Civitas Social Housing has announced that it has completed the purchase of 9 regulated social housing properties, comprising 42 tenancies, for a total consideration of £7.8m. The properties are leased to Encircle Housing Limited, Auckland Home Solutions C.I.C. and Inclusion Housing C.I.C. all of which are regulated by the Regulator of Social Housing and are […]
Primary Health Properties (PHP) has announced that it has contracted to fund and acquire a purpose built primary care centre in Athy, County Kildare, in the Republic of Ireland. The transaction is being conducted through Primary Health Properties ICAV, an Irish investment vehicle wholly owned by PHP, for a total cost of €11.4 million. Construction […]
AEW UK REIT(AEW) has announced that it has acquired Lockwood Court, a 187,794 square foot warehouse located on the Parkside Industrial Estate in Leeds, for a gross purchase price of £7.3m, reflecting a initial yield of 7.7%. About Lockwood Court The Lockwood Court warehouse asset is fully let to LWS Yorkshire Ltd, a logistics and […]
Judgement issued on Inclusion Housing CIC – The Regulator of Social Housing has issued a regulatory judgment in respect of Inclusion, one of the 15 housing associations working with Civitas. Inclusion has been issued with a G3 grading in terms of Governance and a V3 grading in terms of Financial Viability. These are the same gradings […]
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