This sector includes mortgage companies, property management companies and REITs
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 […]
Great Portland Estates has reported results for the year ended 31 March 2016. At the end of March its EPRA NAV per share was 847 pence (pre-SDLT increase: 857 pence), up 19.5% in the year. EPRA profit before tax for the year was GBP47.8 million, up 6.0% on 2015. this translates into EPRA earnings per […]
Over the year to the end of March 2016, Big Yellow’s EPRA NAV rose by 11.5% to 569.1p. Its adjusted diluted EPRA earnings per share were up 15% to 31.1p and from this they are paying dividends totalling 24.9p for the year, an increase of 15%. The increase in profits was driven in part by […]
McKay Securities delivered 11% growth in its EPRA NAV over the year that ended on 31 March 2016. The EPRA diluted earnings per share rose from 5.22p to 7.76p. The Board is recommending a 1.7% increase in the final dividend to 6.1 pence per share (March 2015: 6.0 pence). This will be paid as an ordinary dividend on […]
Assura has announced its preliminary results for the year ended 31 March 2016. It saw a 3.9% growth in diluted EPRA NAV per share to 45.8 pence. Profit before tax fell to GBP28.8 million from GBP36.6 million after GBP34.1 million debt early repayment costs. The enlarged property portfolio delivered a Total Property Return of 8.9%. Assura raised […]
Sirius Minerals Plc has increased reserves at its North Yorkshire polyhalite project by 12% following the completion of a Definitive Feasibility Study earlier this year. The probable reserve now stands at 280.2 Mt at an average grade of 88.4% for 247.7 Mt of polyhalite contained as a result of the inclusion of mineralisation previously reported […]
Empiric Student Property has announced that it has entered into a nomination agreement with Falmouth Exeter Plus, which delivers all shared services, including accommodation, to the students of Penryn Campus, in respect of the Group’s existing 137 bed operating property in Falmouth, Maritime Studios (pictured). The duration of the Nomination Agreement is for three years […]
Raven Russia has announced proposals for a fundraising, for a minimum of £105.5m, by way of a placing of new convertible redeemable preference shares. The company says that it has secured firm commitments from existing institutional investors and the EBT to subscribe for an aggregate amount of approximately £105.5m convertible preference shares and is in […]
British Land have announced their annual results for the year ended 31 March 2016. During the year, the company says that underlying profit increased by 16.0% to £363m, whilst the company’s EPRA NAV increased by 10.9% to 919p per share (or 932p pre the budget stamp duty increase). The company generated an IFRS profit before […]
LondonMetric Property Plc has announced that the Metric Income Plus Limited Partnership (“MIPP”), its joint venture with Universities Superannuation Scheme Ltd (“USS”), has sold its retail parks in Bridgwater, Chatham and Grimsby for GBP15.9 million (LondonMetric share: GBP8.0 million), reflecting a blended NIY of 5.7%. The 33,000 sq ft Range store in Bridgwater has been […]
Empiric Student Property says it has exchanged contracts to acquire, subject to planning, the freehold of a site on Well Street, Exeter, at a cost of £1.5 million (excluding fees). The Company is in the process of applying for planning permission with Exeter City Council for a premium student accommodation development on the site, comprising […]
The Board of Schroder European Real Estate Investment Trust has announced the company’s fifth investment since listing on 9 December 2015. Contracts have been signed for the purchase of a convenience retail property located in Germany. The asset is a grocery supermarket anchored, multi-let convenience retail centre located in a growing inner urban region of Frankfurt […]
Empiric Student Property has announced that they haves exchanged contracts to acquire, subject to planning, the freehold of a site on Pendennis Rise, Falmouth, at a cost of £2.3 million (excluding fees). The company is in the process of applying for planning permission with the Cornwall County Council for a 287 bed premium student accommodation development […]
Empiric Student Property has announced that it has acquired a site, on a 199 year lease, and entered into a forward funding arrangement in relation to a development in Portsmouth, known as Europa House (pictured). The company say that the project comprises a 242 bed redevelopment to create a new premium student accommodation scheme, for […]
Redefine International’s interim statement, covering the six months ended 29 February 2016, saw the EPRA NAV fall by 1.7% to 40.3p. Adjusting for the result of non-recourse negative equity, adjusted NAV of 40.9 pence decreased by 0.8 pence or 1.9 per cent since year-end. The underlying valuation growth of GBP4.8 million in the property portfolio […]
LondonMetric Property has announced that it has acquired two convenience assets in Matlock and Leicester and a development site in Ipswich for a total cost of GBP16.2 million, reflecting a net initial yield of 7.0%. In Ipswich, LondonMetric has acquired a three acre site from Tesco, where it intends to develop a new 30,000 sq […]
Empiric Student Property has acquired the long leasehold (999 years from March 2007) of a 561 bed scheme in Manchester for £29.5m. Victoria Point, Manchester was constructed in 2009 by the vendor as a private residential scheme comprising apartments and duplexes across six separate blocks of accommodation on a 3.5 acre site. The property has […]
Volatility has meant that no investment trusts were launched over the first quarter of this year, while money that was raised was focused around property and infrastructure trusts, according to QuotedData. See more at: http://www.portfolio-adviser.com/news/1028797/property-infrastructure-trusts-inflows-q1#sthash.uWHsqkEA.dpuf
Hammerson has announced the successful syndication and signing of a £420 million unsecured Revolving Credit Facility at an initial margin of 90 basis points with a syndicate of eight international banks. This new facility will refinance the existing £150 million Revolving Credit Facility which would have matured in April 2017 which featured a margin of 150 basis […]
LondonMetric Property has announced that it has exchanged contracts on the sale of its freehold Odeon Multiplex Cinema, in Taunton, Somerset, for £9.1m. The purcasher is the Asda Pension Fund and the sale price reflects a net initial yield of 5.5%. The eight screen, 27,000 sq ft cinema is let to Odeon Cinemas Ltd for a […]
Regional REIT Limited has announced the sale of two assets. Blythswood House, 200 West Regent Street, Glasgow, has been sold to Standard Life Investments for GBP17.4m, reflecting a net initial yield of 5.0%. The property was acquired in 2014 and then the previous lease was surrendered with a back-to-back letting-on a 25-year lease to Glasgow School […]
Empiric Student Property has announced that it has entered into a nomination agreement with the University of Bath in respect of three operating properties and two forward committed assets in Bath. The three operating properties are Piccadilly Place (pictured), Canal Bridge and Widcombe Wharf, whilst the two forward committed assets (due for completion in September 2016) […]
Empiric Student Property has announced that it has acquired the freehold of a 44 bed student accommodation property, Stonemason House, in Oxford for £4.5m (excluding costs). Stonemason House, which is the company’s first acquisition in Oxford, was built in 2011 as a new build scheme in time for the 2011/12 academic year. The property comprises […]
The Board of Empiric Student Property has announced that the group has acquired the land and entered into a forward funded development agreement for a 115 bed, premium student accommodation development in York for a total funding commitment of £11.1m. The property, Empiric’s first in York, is located between York city centre and the University of […]
Highcroft Investments reports for the year ended 31 December 2015 its net asset value per share was up 11% to 1026p and its total property income distribution was up 8% to 38.8p per share. Gross property rental income rose 12% to £3,435,000. This growth includes the effect of a full year’s income from the Ash Vale […]
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