This sector includes mortgage companies, property management companies and REITs
AEW UK REIT has announced that it has secured a £40m 5 year term loan facility with RBS International. AEW UK REIT has approximately £81m invested. It will use the Facility to continue its investment process once net IPO proceeds have been fully invested and to provide gearing of up to 20% loan to Net Asset […]
Hammerson has announced that it is to exercise its option to redeem its 5.25% Bonds, due 2016, early. The issue has a par value of £300m. This announcement follows the announcement on 21 October that Hammerson had completed a 10-year bond issue for £350m. The company says that its 5.25% 2016 Bonds will be redeemed […]
British Land has announced that it has let the first floor of Marble Arch House (pictured) to Cirrus Logic, a provider of analogue and digital signal processing equipment. This follows deals announced earlier this year to let the fourth and second floors to BXR Partners LLP (private investment) and GTECH (global gaming technology). Existing tenants include […]
Assura has announced the acquisition of Abbey Healthcare Group Limited and Abbey Healthcare Property Investments Limited from its former shareholders Peter Archer and Gina Archer. As part of the consideration, payable under the terms of the acquisition, Assura has agreed to issue to the Sellers 2,229,072 ordinary shares to the sellers. Based on the closing […]
Treveria sold off its old property portfolio and gave cash back to shareholders but the listed company is still around and is being transformed into something else – it looks as though this will have something to do with the resources sector. Treveria has appointed Allenby Capital and Peterhouse Corporate Finance as joint-brokers. Peterhouse Corporate Finance has […]
Redefine International’s adjusted NAV rose from 40.5p to 41.7p over the year to the end of August 2015. Earnings per share slipped from 3.3p to 3.2p but the dividend was upped from 3.2p to 3.25p. The slip in earnings was the result of cash drag in the portfolio in the second half of the period […]
Hammerson has announced the successful launch of a £350m bond that matures in 2025. The bond has an annual coupon of 3.5% and the company says it was priced at 1.73% over the reference gilt rate. However, the company then entered into a transaction to swap the sterling bond nominal amount and coupon payments into […]
AEW UK REIT is spending £8.79m on two acquisitions: Barnstaple Retail Park was acquired for £6.79m reflecting a net initial yield and reversionary yield of 8.5%. It comprises a fully let retail warehouse scheme, extending to 50,950 sq ft. The Park is anchored by a 35,690 sq ft B&Q and includes a 9,605 sq ft […]
The Board of European Real Estate Investment Trust has announced that, following the extension of the ground lease interest to a 99 year fixed term, the sale of the retail property located in Kaiserslautern, Germany has been notarised at a price of EUR24.0 million. The sale price of EUR24.0 million represents a 12% premium to […]
Hammerson plc, together with its joint venture partner, Allianz Real Estate, has signed an agreement with Ireland’s National Asset Management Agency (“NAMA”) to acquire the Project Jewel portfolio of loans secured against market-leading retail assets in Dublin, Ireland, including Dundrum Town Centre, Ireland’s pre-eminent shopping and leisure destination. The loan acquisition is being made through […]
Hansteen Holdings has announced the acquisition of two assets in Derbyshire for a total price of £41.1m. West Hallam Industrial Estate (Ilkeston, South Derbyshire) is being acquired for £27.3m, which reflects a net initial yield of 6.2%. Completion is due on 24 September. Belasis Business Park (pictured) is located in Billingham, Teesside. It is being acquired […]
Town Centre Securities has published results for the year ended 30 June 2015. It is reporting an 11.7% increase in NAV to 344p, a maintained dividend of 10.44p (which was covered 1.16x by underlying earnings per share of 12.1p – down from 14.4p the previous year). The total return to shareholders was 19%. Like-for-like property […]
AEW UK REIT has announced the completion of a further acquisition for £5.3m (net of acquisition costs) of 1-15 Fargate & 18-36 Chapel Walk, Sheffield. The two properties provides a total of 40,128sq ft with 8 retail units spread over basement, ground and first floors. Two of the retail units front onto the pedestrianised Fargate Street with six […]
Empiric Student Property has published results covering the year to the end of June 2015. At the end of June the NAV was 103.2 pence per share, a 5.2% increase from an opening NAV of 98.1 pence as at 30 June 2014 and net of all property acquisition costs. £218.8m of the portfolio valuation was attributable to operating assets, […]
In Newcastle Empiric Student Property will acquire on practical completion the freehold of a turnkey student accommodation and retail scheme, Metrovick House (pictured), in central Newcastle for £7.4m (excluding costs). The property, which is the Group’s second acquisition in Newcastle, is located in the city centre with excellent transport links and is walking distance from the City’s […]
Empiric Student Property is expanding in Exeter with the acquisition, subject to planning, of a site on Bonhay Road, Exeter, for a price of £2.5m. The site is to be developed into a 139 bed new-build premium student accommodation scheme and a forward funding development agreement is expected to be entered into shortly. The Group […]
Green REIT has announced its results for the year ended 30 June 2015. The NAV rose by 23.6% and the EPRA NAV by 21.6% over the year. The EPRA earnings per share fell by 23.8% to 1.6 cents. Gearing at the year end was 9.5%. The Board expects to declare a dividend of 1.6 cent […]
Redefine International has announced that it has reached a conditional agreement with the Aegon UK Property Fund to acquire the AUK Portfolio through its wholly-owned subsidiary, Redefine AUK, for an aggregate consideration of £437.2m (£455.7m after costs). This acquisition is conditional upon shareholder approval, for which an EGM will be convened on 25 September 2015. The Company […]
Treveria has sold its two wholly owned subsidiaries – Treveria Asset Management Limited and Treveria Holdings Limited – to Haflinger Invest Limited and Phylira NV. Haflinger is a company owned by a group of investors, among them Richmond Invest GmbH and Richmond Invest BV, in which David Malpica, a director of the Company, holds a beneficial interest. […]
Hansteen is raising £40m at 110p per share to help fund the acquisition of a further £103.7m of units (35.7% of the fund) in the Ashtenne Industrial Fund. They say the deal represents an acquisition of £156.8m of UK industrial property valued at a yield of 8.3 per cent. The price is an effective c.5% discount […]
Empiric Student Property has exchanged contracts to acquire on practical completion the freehold on a site to be developed into a high quality turnkey student accommodation scheme on James Street West, in Bath, for a total investment of £25m (excluding acquisition costs). The property is currently owned and is being developed by James House Limited […]
Schroder Global Real Estate has reported a negative total return for the six months ended 30 June 2015 of 2.9%. An improvement in the fund’s discount gave shareholders a positive return of 1.9% however. They also say the performance is ahead of the return on the FTSEEPRA/NAREIT Index. The Company announced that a continuation vote […]
Empiric Student Property is buying the freehold of a high quality purpose-built student accommodation scheme on Pendennis Rise, in Falmouth, for £8.1m (excluding costs). The property is located next to the Falmouth Docks, within a few minutes’ walk to the Woodlane campus of Falmouth University and the marine School, and with good public transport links […]
AEW UK REIT, which listed on the LSE in May raising £100.5m, has announced the purchase of its fifth property for £12.2m. 225 Bath Street in Glasgow (pictured) has 87k square feet of office space, over seven floors and is currently fully let to six tenants. The purchase brings total capital invested to £52m. The purchase price reflects a […]
Empiric Student Property has acquired the freehold to a 134 bed new-build premium student accommodation scheme, in Sheffield, for £10.7m. Portobello House, as the development is known, is located in the heart of the University of Sheffield campus and within a 10 minute walk to the city centre and Sheffield Hallam University. The scheme comprises a mix of […]
Derwent London has published interim results covering the first half of 2015. Over this period, its EPRA net asset value per share increased by 10.9% to 3,226p from 2,908p. EPRA earnings per share were 33.97p, 16.5% up on the equivalent period last year – this was on the back of a 21.9% increase in PBT and […]
AEW UK REIT is spending £7.15m to buy Valley Retail Park. Valley Retail Park, Newtownabbey is located on the northern side of Belfast with good accessibility to the M2, M5 and A2. The site extends to circa 7 acres and the scheme provides 100,413 sq ft arranged over 7 modern purpose built retail warehouse units […]
Intu Properties has released its interim report for the six months ended 30 June 2015, which show a 1.6% increase in NAV during the period (from 379p to 385p). Underlying earnings per share increased by 6% (from 6.4p to 6.8p per share), whilst a £162 million (1.9 per cent) revaluation surplus and the acquisition of Puerto Venecia […]
intu Properties results for H1 2015 show a 4% total return – the adjusted diluted net asset value rising from 379p to 385p and underlying earnings per share rising from 6.4p to 6.8p. The interim dividend has been maintained at 4.6p. They outperformed the IPD – their property revaluation surplus was 1.9% like-for-like, partially attributable to […]
Highcroft Investments reports an increase in its net asset value from 923p to 965p over the six months ended 30 June 2015. The interim distribution has been increased by 8% to 14.3p. Gross rental income was up 7%, primarily on the back of rental income from properties in Ash Vale and Crawley purchased in the second half of 2014 and […]
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