This sector includes mortgage companies, property management companies and REITs
Hammerson sells Places des Halles in Strasbourg – Hammerson has exchanged contracts for the sale of its share (64.5%) of Place des Halles shopping centre in Strasbourg, France. LaSalle Investment Management will purchase the centre from Hammerson and its co-owner, on behalf of funds under management, for a total net vendor price (100%) of EUR […]
LondonMetric sells Tesco warehouse – LondonMetric Property has announced the disposal of a Tesco’s logistics warehouse in Bolton for GBP24.4 million, reflecting a net initial yield of 5.35%. The 274,000 sq ft regional warehouse was acquired as part of the GBP117 million Cabot logistics portfolio in August 2017 off a blended NIY of 6.1%. The […]
Regional REIT has announced that its asset manager, London & Scottish Property, has exchanged contracts to sell a development site in Leeds for £10.5m, on a subject-to-planning basis, to Unite Students. The 21,000 square foot site, which was acquired by Regional REIT in March 2016 as part of the Wing Portfolio together with the adjacent […]
Regional REIT changes to manager line up – London & Scottish Investments has announced the appointment of Simon Marriott to the position of Investment Director. Simon will join the main LSI board and work closely with Chief Executive Stephen Inglis on Regional REIT. Simon joins LSI with over 30 years’ experience in the property industry, […]
Redefine sells German retail property portfolio – Redefine International has announced the sale of the Leopard (German supermarket) portfolio to PATRIZIA Immobilien AG. Completion is anticipated to take place in December 2017. The consideration will reflect a purchase price of EUR205.0 million, reflecting a 10.8% (EUR20 million) premium to the 31 August 2017 book value. They say […]
Raven Russia buys Moscow logistics park – Raven Russia says that a subsidiary has entered into an agreement for the acquisition of a logistics park in Moscow. The agreement is to acquire a completed warehouse complex from Industrialniy park “Sever” Limited Liability Company, a company incorporated in Russia. Initial consideration of RUR 5.119billion ($86.58million), is […]
intu creates jv to own Chapelfield shopping centre in Norwich – intu properties plc and LaSalle Investment Management, acting on behalf of Greater Manchester Pension Fund and West Yorkshire Pension Fund, are forming a partnership to jointly own intu Chapelfield shopping centre in Norwich. LaSalle will acquire a 50 per cent interest in the property for net […]
AEW Long Lease buys St Helens industrial estate – AEW UK Long Lease REIT has bought Pocket Nook Industrial Estate, St Helens for GBP9.0m reflecting a net initial yield of 5.4%. The 16.1 acre site is let to three tenants and provides a weighted average unexpired lease term of 66 years to expiry, with 49% […]
Redefine moves to fully covered dividends – Redefine International has published results for the year ended 31 August 2017, its EPRA NAV rose to 41.4p rom 40p and EPRA earnings per share rose from 2.7p to 2.8p on earnings up from £44.1m to £50.9m. The Board has declared a second interim dividend of 1.3 pence per share […]
Hammerson buys Cergy 3 centre in Paris – Hammerson has completed the acquisition of the 11,000 sqm shopping centre, Cergy 3, adjoining its centre Les Trois Fontaines, Cergy Pontoise, Paris for EUR 81 million (GBP72 million) from a private vendor. Les Trois Fontaines is established as the leading shopping destination for the Val d’Oise region […]
Empiric Student Property makes rare sale – The Board of Empiric Student Property plc says that the group has exchanged contracts to sell the freehold of a site in Forthside Way, Stirling for GBP2.0 million (excluding costs). The disposal is expected to complete on 27 November 2017. This site was acquired by the group in August […]
AEW UK Long Lease buys Wandsworth gym – AEW UK Long Lease REIT has completed the acquisition of 212 Wandsworth Road, London for GBP4.4m. The property, which is fully let to Pure Gym Limited at a low passing rent of GBP11.60 per sq ft, provides an unexpired lease term of 10.2 years to break and […]
James Carthew: has Tritax paid too much as Hansteen hands back cash? In the past week we have seen a very large tender offer from Hansteen Holdings (HSTN), a real estate investment trust specialising in industrial property, and a deal where Tritax Big Box (BBOX) bought a large logistics facility from LondonMetric Property (LMP). Hansteen […]
LondonMetric buys logistics site in Bedford – LondonMetric Property Plc has unconditionally acquired the 40 acre Bedford Link site from the local authority. The site has planning consent for up to 670,000 sq. ft. of logistics space and all other conditions relating to the purchase have now been satisfied. Bedford Link is situated on the A421, […]
Warehouse REIT buys four industrial estates from Hansteen – Warehouse REIT says that, following its admission to AIM on Wednesday 20 September 2017, the board has announced its first pipeline acquisitions, which follows the initial Tilstone Portfolio purchase for GBP108.85 million. The pipeline assets described in the prospectus included four multi-let industrial estates in England which […]
Safestore buys Stork Self storage – Safestore Holdings plc has announced the acquisition of Stork Self Storage (Holdings) Limited (trading as Alligator Self Storage) for GBP56m. Highlights Exchanged contracts to acquire Stork Self Storage (Holdings) Limited (“SSSHL”), the eleventh largest self-storage portfolio in the UK with 12 stores. Consideration of GBP56m (subject to a potential working […]
Impact Healthcare REIT on track – Impact Healthcare REIT, which has just published some figures covering the period from launch to end June 2017. They raised £160m from investors in March 2017 and started trading on 7 March 2017. The chairman says that, at the period end, they had invested the majority of the net […]
Green REIT reports 10% NAV growth – Green REIT has released preliminary results for the year ended 30 June 2017. It is reporting 10% NAV growth driven by development profits and increased underlying earnings. Highlights: 10% increase in NAV from €1,048m to €1,152m 9% increase in EPRA NAV per share to EUR1.66, underpinning a 12.9% […]
Travelodge, Salvation Army and Wet’n’Wild for AEW Long Lease – AEW UK Long Lease REIT has announced the acquisition of a hotel and retail unit on Princes Street, Swindon for GBP6.3m. The 35,000 sq ft property, which comprises a Travelodge hotel and Salvation Army centre, provides a weighted average unexpired lease term of 23 years, […]
Steady performance from Mucklow (A&J) – Rupert Mucklow, chairman of Mucklow (A&J) Group says that he is pleased to report another steady performance by the Group for the year ended 30 June 2017. He said “Our property portfolio continued to perform well, in favourable market conditions. We maintained a high occupancy level throughout the year and delivered […]
Investors’ insatiable appetite for income has pushed many innovative income funds to lofty premiums, but a host of opportunities remain. Jennifer Hill outlines five routes to pocket in flation-beating income. Investors are on the hunt for alternative sources of income, given the high valuations of many equity markets and poor value in bonds. ‘We’ve been looking […]
Empiric funding 166 bed development in Edinburgh – The Board of Empiric Student Property says that the Group has acquired land with planning permission and entered into a forward funded agreement for a 166 bed premium student accommodation development in Edinburgh for a total funding commitment of GBP26.56 million (excluding costs). The Property will be valued post-completion and […]
LondonMetric buys logistics portfolio from Cabot – LondonMetric Property Plc has announced the acquisition of 14 urban and regional logistic warehouses for GBP116.60 million from Cabot Properties. The purchase price reflects a day one yield on cost of 6.1% and a reversionary yield of 6.6%. The 1.3 million sq ft of warehouses are in established […]
London Museum of Photography headed to Whitechapel – Derwent London has announced that it has pre-let the lower ground floors and a new office pavilion at The White Chapel Building, 10 Whitechapel High Street E1, to Fotografiska. Fotografiska runs the world renowned photography museum in Stockholm and will use the space for Fotografiska – The […]
LondonMetric buys Currys PCWorld store in New Malden – LondonMetric Property Plc has acquired Burlington Retail Park in South West London for GBP28.3 million from a large UK institution. The 51,500 sq ft unit in New Malden, South West London, is located next to the A3 and is majority is let to Dixons Carphone operating […]
Empiric will convert St Mary’s hospital Bristol to student housing – The Board of Empiric Student Property has announced that the Group has acquired, on an unconditional basis, the freehold of the former St Mary’s Hospital in Bristol for GBP8.08 million (excluding costs). The current site comprises a 3,400 sq m former hospital building and 65 […]
LondonMetric Property sells Milford Haven retail park – LondonMetric Property Plc has announced that it has sold its retail park in Milford Haven for GBP15.3 million. The 84,000 sq ft Havens Head Retail Park was acquired in 2010 for a net GBP14.2 million and is anchored by a 38,000 sq ft Tesco food store with other […]
Empiric buys Hahnemann building in Liverpool – The Board of Empiric Student Property has announced that the Group has exchanged contracts to acquire the freehold of the Hahnemann Building (the “Property”) in Liverpool for GBP10.8 million (excluding costs). The acquisition is expected to complete in October 2017. The Hahnemann Building is a Grade II listed building […]
Redefine International has announced that it has submitted a proposal to International Hotel Properties Limited to increase its shareholding in IHL from 17.24% to 50%. International Hotel Properties is listed on the Euro MTF market of the Luxembourg Stock Exchange and on the AltX of the Johannesburg Stock Exchange (JSE). Redefine International say that it […]
AEW UK Long Lease REIT invests £24m – AEW UK Long Lease REIT has four properties under offer across a range of property sectors. The combined value of the assets is GBP24m and represents over 30% of the net proceeds raised at the Company’s successful IPO on 6 June 2017. The properties are in line […]
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