This sector includes mortgage companies, property management companies and REITs
Derwent London has announced interim figures covering the six months ended 30 June 2016. Its EPRA net asset value per share increased by 1.8% to 3,598p from 3,535p at 31 December 2015. Net rental income increased by 8.5% to GBP72.6m (from GBP66.9m in the equivalent period in 2015). This fed through into EPRA adjusted profits before tax […]
More than half of the 10 investment trusts that became least expensive relative to their net asset value (NAV) over the second quarter (Q2) are related to property, according to fund research company QuotedData. Read more here
European Real Estate Investment Trust has announced that it is to return €20.7m to shareholders by way of a compulsory partial redemption of shares. The capital return, which is equivalent to 115 pence per share, follows the sale of Panrico on 11 August 2016. The company says that the return represents a substantial proportion of […]
Intu says its NAV (adjusted and diluted) barely changed (up to 405p from 404p) and like-for-like net rental income increased by 7.5 per cent in the first six months of 2016, reflecting increased occupancy, improving rental levels from new lettings and rent reviews and the benefits of unit reconfigurations. They signed 98 long-term leases (82 in the […]
Hammerson reports that, for the first six months of 2016, its EPRA net asset value rose by 2.4% to 727p. Adjusted EPS grew by 0.7p or 5.1% to 14.3p. The interim dividend was increased by 6.3% to 10.1p. Their properties produced a return of 2.9%, 0.5% ahead of the industry benchmark. Within this, their French […]
Sirius Minerals Plc has received government approval for the harbour facilities element of its US$2.3 billion, North Yorkshire, polyhalite project and has now been granted all major approvals for the project. The harbour facilities include the new berth, ship loading facilities and the conveyor linkage to the materials handling facility at the Wilton International site, […]
Investment Week – Investors eye beaten-up property sector: Investors are starting to hone in on attractive entry points into the beleaguered property sector, especially among more specialist and less-London centric closed-ended vehicles, after a “savage de-rating” following the Brexit vote and a raft of open-ended fund suspensions. James Carthew, director of research at QuotedData says […]
Empiric Student Property has announced that it has agreed a new £32.8m loan facility with AIB Group (UK). The Facility, which is secured against a portfolio of five forward funded assets, is a development loan which will be drawn down in agreed stages. The practical completion of all five forward funded assets expected by July […]
Hammerson has announced that it has exchanged contracts for the sale of Manor Walks Shopping Centre, Cramlington, Northumberland to Arch Commercial Enterprise Ltd for £78m. Manor Walks adjoins Westmorland Retail Park and the two schemes form the core retail offer for Cramlington town centre situated nine miles north of Newcastle. Hammerson says that, further to […]
Hansteen has announced that it has acquired 66.7% of the share capital of Ashtenne Industrial Fund (General Partner) Limited from Norwich Union (Shareholder GP) Limited for £0.12 million in cash. Hansteen say that the net assets of the General Partner, at 31 December 2015, were £0.17 m and the profits for the year ended 31 […]
Empiric Student Property has announced that it has acquired the freehold of a 31 bed student accommodation property, 2 Oolite Road, in Bath for £2.6m (excluding costs). The property is the fifth student accommodation property in Bath and it has been acquired from IESIS Limited, an established local developer and operator of purpose-built student accommodation […]
Hansteen refinances Netherlands Light Industrial Property with €145m 5-year facilityHansteen has announced that it has refinanced two loans secured against its Netherlands light industrial property portfolio with a single loan totalling €145.0m. The company says that this has resulted in a reduction in the cost of borrowing on the portfolio from 3.57% to 2.49%, excluding […]
Redefine International has provided an update on the progress it is making on asset management initiatives on its recently acquired Aegon UK (AUK) portfolio. The company says that it is making good progress that is ahead of initial expectations. In summary, since the EU referendum result, the company has completed two leases totalling £0.6m, which […]
AEW UK REIT has published its first set of accounts covering the period from 1 April 2015 to 30 April 2016. The net asset value was GBP116.38 million or 99.03 pence per share as at 30 April 2016. Total dividends of 5.5 pence per share have been declared for the period from the IPO to 30 April 2016. […]
British Land announces that it has exchanged contracts for the sale of 334-348 Oxford Street, London to a private investor for GBP400 million. The asset is a seven storey building located near Bond Street Underground Station in London’s core West End shopping district. The building is let in its entirety to Debenhams until 2039. In […]
Hammerson, together with its joint venture partner Allianz Real Estate, has successfully secured the ownership of Dundrum Town Centre, Ireland’s pre-eminent shopping and leisure destination as part of a portfolio of market-leading retail assets in Dublin, Ireland. Hammerson and Allianz acquired loans secured against a portfolio of retail assets in September 2015 from the National Asset […]
The Board of Schroder European Real Estate Investment Trust has announced the completion of the acquisition of two grocery anchored retail investments located in Rennes and Anglet (near Biarritz), France. The freehold properties are located in established retail parks which benefit from strong local catchments. The acquisition has been made in a joint venture with […]
Hammerson plc ) has exchanged contracts and completed the sale of Thurrock Shopping Park, Essex, to TH Real Estate for GBP93 million. The park comprises two retail schemes with net internal area of 25,500m(2) and is situated next to junction 31 of the M25. Tenants include M&S, Gap, Pets at Home, Decathlon, Boots, Evans Cycles […]
intu properties announces that it has exchanged contracts with the Queensland Investment Corporation (“QIC”) to acquire the remaining 50 per cent of the Merry Hill estate for GBP410 million before expenses. This represents an income yield of 5.2 per cent, based on net rental income of GBP43 million. The estate comprises the intu Merry Hill […]
Safestore’s EPRA NAV rose by 18.8% over the six months ended 30 April 2016 and the interim dividend was raised by 20% to 3.6p. Underlying, like-for-like EBITDA rose by 12.7% to £29.3m as occupancy rose by 2% to 70.9% and average storage rates rose by 4.7% to £26.02. Safestore has delivered a strong financial performance […]
In response to media comment, intu confirms that it is in advanced discussions with QIC regarding the potential acquisition of QIC’s 50 per cent interest in intu Merry Hill in the West Midlands. If the acquisition were to proceed, the consideration is likely to be around GBP410 million and would be funded through a combination […]
Further to its recent announcement of the selection of the main contractors for its of its North Yorkshire polyhalite project, Sirius Minerals Plc has concluded a new, 10-year offtake agreement with Yunnan Dian Huang Peony Industrial Group Co Ltd (Dian Huang), which is a producer of peony seed oil. The annual quantity covered by the […]
Empiric Student Property has announced that it has acquired Pennine House, a 127 bed student accommodation property in Leeds, for £17.8 million (excluding costs). The property comprises a mix of studios and two-bed en-suite apartments across eight floors together with communal facilities including a gym, cinema room, study rooms and a common room. The property […]
Sirius Real Estate has announced proposals for a private placing to raise up to €20m, which they say is to be used for further acquisitions. The company has also announced that it is refinancing an existing credit facility and is proposing a secondary placement of up to 27m shares. The Private Placement is conditional upon […]
Workspace has published results for the year ended 31 March 2016. At the end of the period, the EPRA NAV per share was GBP9.23, an increase of 31.3% over the year. The Board is recommending an increase in the final dividend to 10.19p per share. This represents an increase in the total dividend for the […]
Sirius Minerals Plc has selected the preferred contractors for key components of its North Yorkshire polyhalite project after a 19-month tendering process. Sirius has chosen AMC UK (a joint venture between Thyssen Group and Redpath Group) as the contractor for the design and build of mine site development, which includes all of the shaft construction […]
Schroder European Real Estate has confirmed completion of the purchase of a convenience retail property located in Rodelheim (Frankfurt) at a purchase price of EUR11.05 million reflecting a net initial yield of 5.6%. The investment is well located in a growing inner urban area of Frankfurt am Main and is anchored by a 1,600 sqm Lidl supermarket […]
Over the year to 31 March 2016, LondonMetric Property’s EPRA NAV increased from 140.6 to 1467.7. EPRA earnings increased from £40.9m to £48.5m which equates to an earnings per share increase from 6.6p to 7.8p. The dividend has been increased to 7.25p from 7.0p. They are implementing a policy of paying quarterly dividends the first […]
The Board of AEW UK REIT has announced the acquisition of two mixed use assets in Nottingham and Blackpool for a total of GBP13.2m, net of acquisition costs. With these two acquisitions the Company has now fully invested its equity capital and is geared to 20% of Gross Asset Value, in line with its investment […]
The Board of Empiric Student Property has announced that the Group has acquired the freeholds of three operational, direct-let, premium student accommodation properties in Leicester, comprising a total of 106 beds, for a consideration of GBP8.8 million (excluding acquisition costs). Bede Park (completed in 2012) is a conversion of a 1900s two storey industrial unit, with […]
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