This sector includes mortgage companies, property management companies and REITs
Hammerson plc and its partners in VIA Outlets, APG, Meyer Bergman and Value Retail, have signed an agreement to acquire, subject to regulatory clearance, four established outlet centres as part of its growth strategy in the European outlet market. The retail venues, located close to major cities in Germany, Portugal, Spain and Poland, represent total […]
LondonMetric Property has announced that it has acquired eight ‘last mile’ distribution warehouses for GBP39.9 million at a blended yield of 6.2% and with a WAULT of 9.0 years. Six of the distribution warehouses have been acquired from Helical plc for GBP26.0 million at a NIY of 6.5%. The 382,000 sq ft of warehouses are […]
Assura reports 3.1% growth in diluted EPRA NAV per share to 47.2 pence over the six months ended 30 September 2016. EPRA EPS, which excludes the net impact of valuation movements and gains on disposal, was 1.2 pence (2015: 0.9 pence). The quarterly dividend will rise by 9% to 0.6p from January 2017. They are reporting […]
Hammerson has announced that it has signed an agreement with eleven institutional investors, from both the US and the UK, for the placement of £400m of private placement notes with maturities at 7, 9, 11 and 14 years. The fixed rate notes are denominated in Euro (EUR 177m), British Pound Sterling (£50m) and US Dollar […]
Big Yellow says its adjusted net asset value at the end of September 2016 was 594.1 pence per share, up 4% from 569.1 pence per share at 31 March 2016. The Group made an adjusted profit before tax in the period of GBP27.0 million, up 13% from GBP23.9 million for the same period last year. […]
A strategic review of European Real Estate Investment Trust has taken place between the manager and the board. Following the sale of the Panrico assets on 28 July 2016, La Gaude in Nice is their last remaining property and needs to be sold as soon as practicable to ensure the liquidation process can be completed. […]
McKay Securities has announced its half year results for the six months ended 30 September 2016. Its EPRA NAV at the end of the period was 295 pence per share, down 2.0% (31 March 2016: 301 pence per share). EPRA earnings per share were up 10.3% to 4.3 pence as gross rental income rose by 2.4% to […]
Workspace’s EPRA net asset value per share was down 0.9% over the six months ended 30 September 2016, falling from 923p to 915p. Adjusted underlying earnings per share rose 15.2% to 14.4p as net rental income was up 6% to £38.0m. The interim dividend has been upped by 40% to 6.8p. Net initial yields shifted from 5% […]
The Board is pleased to announce that Rodenhurst Estates Limited (the property owning subsidiary of Highcroft Investments PLC) has today agreed the sale of a freehold warehouse on the Heathcote Industrial Estate, Warwick to a private investor. It is expected that contracts will be completed within one month. Built in the early 1990’s, the property […]
Sirius Real Estate continues to reduce the average cost of its borrowings. It has confirmed it has completed a new 7 year EUR70 million banking facility with BerlinHyp with an all-in fixed interest rate of 1.48% for the term of the loan. This replaces an existing EUR39.3 million facility which was incurring an all-in fixed […]
Capital & Counties Properties PLC has acquired the freehold interest of Tower House, 10 Southampton Street, Covent Garden, from Derwent London PLC for GBP67.5m before purchaser’s costs. The property is a substantial corner building located at the junction of Southampton Street and Tavistock Street with views towards the Piazza. The multi-let building produces an annual rental […]
The Board of Schroder European Real Estate Investment Trust has announced the exchange of contracts for the purchase of a EUR30.1 million office property located in Saint Cloud, Paris, reflecting a net initial yield of 9.5%. The asset is fully income producing and comprises part of an established office complex in Saint Cloud, a densely […]
Redefine International has announced its results for the year ended 31 August 2016. Its EPRA NAV per share fell to 40.0p (2015: 41.0p), a decrease of 2.4%, incorporating a one-off impact of AUK portfolio acquisition costs and a 1.0% increase in UK Stamp Duty Land Tax. Earnings per share were flat at 3.2p and they are […]
Sale of intu Bromley intu properties plc has exchanged contracts to sell its 63.525 per cent stake in intu Bromley to Alaska Permanent Fund Corporation (‘APFC’) for GBP177.9 million, representing a premium to its 30 June 2016 valuation of GBP175.9 million. The topped-up net initial yield based on market value at 30 June 2016 was […]
LondonMetric Property has acquired a distribution warehouse in Stevenage for GBP7.3m at a NIY of 6.25%. The 74,000 sq ft distribution warehouse is located immediately adjacent to the A1(M), on an established South East distribution park. The unit is let to Dixons Carphone for a further 9 years at a rent of GBP6.50 psf with […]
The Board of Empiric Student Property plc has acquired the freeholds of five operating properties, one in Exeter, two in Leicester and two in Portsmouth, with a total of 464 beds, for an aggregate cash consideration of GBP26.69 million (excluding acquisition costs) from assets managed by LaSalle Investment Management. All the properties were fully let […]
Regional REIT Limited has announced its results for the six months ended 30 June 2016. Financial Highlights for the half year to 30 June 2016: (unaudited) Gross value of property assets up 1.8% like-for-like, to GBP501.3m (31 Dec 2015: GBP403.7m). Acquisitions of GBP128.1m were successfully completed, including 2 major portfolios; Wing with a net initial […]
Empiric Student Property has announced its annual results for the year ended 30 June 2016. The company grew its portfolio significantly during the year, from £251.3m to £523.9m, funded by £286.4m of gross equity proceeds and a further £120m of debt. As a result, the company says that its portfolio of purpose-built student accommodation increased […]
Green REIT has reported a 14.9% increase in its EPRA NAV to EUR1.52 per share, underpinning a 17.7% total return in the year to the end of June 2016. EPRA EPS increased 131% to 3.7 cents per share as contracted annual rents rose by 10% to EUR61.3 million. The proposed dividend is 4.6 cents – up 188% […]
Derwent London has announced that it has sold its long leasehold interest in 75 Wells Street, London W1, for £40.9m before costs. The purchaser was a private investor and the company says that the sale price was in line with December 2015 and June 2016 valuations. According to Derwent London, 75 Wells Street (pictured) is […]
Sirius Real Estate has announced that, following on from the successful private placing raising EUR30 million before expenses completed in June 2016, it has notarised and is near to completing the acquisition of two multi-let business parks, referred to at the time of the fundraising, for a total consideration of EUR46.3 million. The first site […]
Mucklow (A & J) has announced its annual results for the year ended 30 June 2016. During the year, the company’s EPRA earnings per share increased by 7.5% to 23.88p (2015: 22.21p) whilst its EPRA NAV per share increased by 4.4% to 446p (2015: 427p). The period also saw the companies underlying pre-tax profit increase […]
Empiric Student Property (Empiric) has announced that it has entered into a forward funding arrangement, with Linford CZero Ltd, to develop a 185 bedroom scheme, The Emporium, in central Birmingham for a total investment of £19.53m. The scheme is expected to be delivered in spring 2018, in time for the 2018/19 academic year and is […]
Sirius Minerals’ ambitions to build the world’s largest polyhalite mine in North Yorkshire, UK moves forward with a non-binding agreement for a US$2.6 billion debt facility for ‘Stage 2’ of mine development with six financial institutions; closing expected to take place in 2018. The agreement is subject to due diligence and securing US$ 1.09 […]
Empiric Student Property has announced that it has acquired the freehold of a 79 bed student accommodation property, Pavilion Court (pictured), in Canterbury, for £9.2m (excluding acquisition costs). The property, which is the company’s first acquisition in Canterbury, comprises 79 beds in a mix of studios and one, two, three and four-bed apartments. It was […]
Hansteen’s interim results for the six months ended 30 June 2016 show its EPRA NAV per share increased by 11.9% to 124.4p over the period. Adjusting this for the dilution effect of their convertible issue, the NAV was 120.5p. They also publish an adjusted EPRA NAV per share, this increased by 8.4% to 120.5p. Normalised Profits (their measure […]
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What sort of investment strategy should investors adopt when contemplating property funds? What the Brexit-induced woes have highlighted is advisers should make sure what sort of investment strategy clients need when contemplating property as part of a portfolio. read more here
Empiric Student Property has acquired the freeholds of three operating properties, two in London and one in Exeter, with a total of 213 beds, for an aggregate cash consideration of GBP21.5 million (excluding acquisition costs) from CBRE Global Investors. Isca Lofts, Exeter – GBP4.73 million Isca Lofts, Longbrook Street, Exeter, is a direct-let student accommodation […]
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