This sector includes mortgage companies, property management companies and REITs
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 […]
Aberdeen Standard European Logistics expands in France – completes purchase of logistics warehouse located in Meung-sur-Loire, France, that was announced on 23 November 2018. Cost was EUR23.5 million providing a net initial yield of 4.7%. The warehouse is let to Office Depot France on a fully indexed lease until 2026 resulting in an unexpired lease term […]
Yew Grove REIT has announced that it has exchanged contracts to acquire Unit 2600, an Office Block located in Cork Airport Business Park. The €7.5 million acquisition represents a net initial yield of 7.85 per cent. after accounting for purchase costs. This is Yew Grove’s first investment in Cork. Unit 2600 Unit 2600 is a […]
LXi gets coffee fix – LXi REIT has exchanged contracts to provide forward funding for the pre-let development of a portfolio of 13 separate Starbucks and Costa drive-thru format coffee shops for a combined consideration of GBP23.4 million, reflecting a 5.7% net initial yield (net of acquisition costs). The acquisitions are being funded with their new […]
Ediston Property Investment Company (EPIC) has announced that it has restructured lease terms with New Look at Prestatyn Shopping Park, Prestatyn. This has led to both increased rent and a longer lease term. Background to the restructuring – New Look’s CVA New Look completed a Company Voluntary Arrangement (CVA) in March 2018, under which the […]
The Local Shopping REIT (LSR) has provided an update on its Property Sales Programme. Since its last update, LSR has sold or exchanged contracts for sale on 6 properties for an aggregate price of £0.93 million, representing a 1.1% discount to carrying value before sales costs. It says that, of these, 3 properties were sold […]
Tritax Big Box REIT (BBOX) has announced the results of its recent fundraising under which the Company has raised approximately £250 million (before expenses). The net proceeds of the issue are to be used by to fund the acquisition of an 87 per cent. economic interest in db Symmetry as well as further investments. The […]
Primary Health Properties (PHP has announced that it has acquired the entire issued share capital of Chapeloak Investments Limited, whose sole activity is the ownership of the Oakwood Lane Medical Centre, in Leeds, for a total consideration of £5.425m. It has also contracted to forward fund the development of a purpose built medical centre in […]
Thalassa firms up Local Shopping bid – Thalassa will offer a total of GBP9.0 million in cash and approximately 16,000,000 Thalassa shares in exchange for the 61,484,576 Local Shopping REIT shares it does not already own. The offer will also include a mix and match facility which will allow Local Shopping REIT shareholders to elect to vary […]
Ediston Property (EPIC) has announced that it has signed a lease on unit B, Barnsley East Retail Park, with B&M Retail Limited (‘B&M’). The new letting has increased B&M’s occupation on the park by 40%. B&M will occupy both units A and B B&M already occupies the adjoining unit A which extends to approximately 25,000 […]
Regional REIT buys Norfolk House, Birmingham – Regional REIT Limited has exchanged and completed on contracts to purchase Norfolk House, Smallbrook Queensway, Birmingham, for GBP20m, reflecting a current net initial yield of 7.92%. The deal was done off market. The 119,687 sq. ft. freehold property is in the centre of Birmingham; adjacent to Birmingham New Street […]
Warehouse REIT buys Glasgow air cargo centre – Warehouse REIT has exchanged contracts on the purchase of the Air Cargo Centre at Glasgow International Airport, from Airport Industrial Nominees Limited. The GBP11.1 million price represents a net initial yield of 6.7% and a reversionary yield in excess of 7%. The property is held by way of […]
Ground Rents Income loses court case – Ground Rents Income Fund says a High Court judgment has been handed down in connection with the recent hearing of the case between its wholly owned subsidiary North West Ground Rents Limited (‘NWGR’) and Blue Manchester Limited (‘BML’), a leaseholder within Beetham Tower, Deansgate, Manchester. In Ground Rents Income’s […]
Primary Health reports static earnings but increases dividend – Primary Healthcare Properties has published results for the year ended 31 December 2018 [a remarkable feat given this is just one month later]. Highlights are: A 4.4% increase in the EPRA NAV to 105.1p. The net initial yield of the portfolio fell to 4.85% from 4.91% EPRA […]
PRS REIT buys four more development sites – PRS REIT signed contracts over four additional private rental sector development sites in January. Three of the sites are ones which PRS will develop in conjunction with partners and the remaining site will be bought once it is fully-completed. The four sites are expected to deliver approximately 310 […]
Key highlights: Civitas Social Housing (CSH) has released its quarterly NAV and market update announcement. Key highlights are as follows: The IFRS NAV per share increased by 0.4% to 106.5p during the quarter (30 Sept 106.1p). This includes the recognition of two dividends in the quarter, and is equivalent to a total return of 2.6%. […]
CEIBA fully invested – CEIBA Investments Limited says it has now successfully deployed all of the £30m raised in its IPO. The company repaid the outstanding EUR30 million bridge loan (that was previously provided by its largest shareholder) in order to expand their interest in the Meliã Las Americas, Meliã Varadero and Meliã Sol Palmeras hotels […]
Drum Income Plus REIT ups dividend – Drum Income Plus REIT says that its net asset value per share at 30 September 2018 was 93.8 pence, 0.2% lower than the figure at the end of the previous year. When dividends paid during the year are included the net asset value total return for the year […]
Civitas Social Housing (CSH) has promptly announced that the Regulator of Social Housing (RSH) has issued a grading under review notice in respect of Bespoke Supportive Tenancies (BeST), one of the 15 housing associations that it is working with. CSH says that, as at 31 December 2018, BeST represents 4.3% of its net asset value […]
LXi announces clutch of deals including supported living sale – LXi REIT has exchanged contracts to provide forward funding for the pre-let development of a Travelodge hotel at Gosport in Hampshire for GBP6.6 million, reflecting a 5.7% net initial yield. The 70 bedroom hotel has been fully pre-let to Travelodge Hotels Limited, the principal trading company of […]
Tritax Big Box dives as it announces dilutive share issue – Tritax Big Box REIT has conditionally agreed to acquire an 87 per cent. economic interest in db Symmetry, which owns one of the UK’s largest strategic land portfolios for the development of Big Box real estate assets and related logistics facilities. Created in 1996, db […]
Primary Health and MedicX to merge – The boards of Primary Healthcare Properties (PHP) and MedicX Fund have reached agreement on the terms of a recommended all-share merger between MedicX and PHP, which is intended to be structured as PHP acquiring the entire issued and to be issued share capital of MedicX. Under the terms of […]
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