This sector includes mortgage companies, property management companies and REITs
LondonMetric Property has announced that it has acquired three distribution warehouses for £21.8m, totalling 212,600 sq ft and reflecting a net initial yield (“NIY”) of 6.6%, which contractually rises to 6.9% within two years. The warehouses are located in Castle Donington, Royston and Hemel Hempstead and are let to toy retailer Hamleys, Howdens and Goodrich respectively for […]
Hansteen’s results for the year ended 31 December 2015 have been published. Its EPRA NAV per share increased by 9% to 111p to give a total return of 17.3%. Full year dividend increased by 5.0% to 5.25p per share. The Normalised Income Profit or NIP, which excludes profits or losses from the sale of properties, essentially […]
Safestore has agreed an option to acquire Space Maker, the ninth largest self-storage portfolio in the UK with 12 stores. The initial consideration is £43.0m initial consideration and a £1.4m deferred consideration to be funded from existing Group debt facilities. At the initial consideration price, the Space Maker portfolio has an implied first year net operating income […]
Empiric Student Property has published its interim results covering the six months ended 31 December 2015. The Group’s basic EPRA earnings per share for the period were 0.70p per share (31 December 2014: 0.11p per share). The basic EPRA NAV per share as at 31 December 2015 was 105.6p (30 June 2015: 103.4p). They have […]
Green REIT has announced that it has completed the renegotiation of its leases with Vodafone Ireland on their Irish headquarters building at Central Park, Dublin 18, which comprises 263,000 square feet and generates a rent of €7.3m per annum for Green REIT. Vodafone is the largest occupier at Central Park and is Green REIT’s single […]
intu properties is reporting a 7 per cent increase in both its NAV per share (adjusted, diluted) and its underlying earnings per share from 13.3p to 14.2p and a 4 per cent revaluation surplus taking the value of investment properties to £9.6bn. The total return for the year was 10%. They see like-for-like net rental income in the […]
Derwent London is reporting that its EPRA net asset value per share increased by 21.6% to 3,535p from 2,908p at 31 December 2014, and by 9.6% from 3,226p at 30 June 2015. Net rental income increased 7.8% to £138.7m from £128.7m in 2014. EPRA profit before tax rose 31.0% to £81.6m from £62.3m last year […]
Safestore has announced that its acquired a freehold site in eastern Paris adjacent to the A4 motorway at Marnes-la-Vallée in the town of Emerainville for €4.2m. The site contains an existing warehouse which will be converted into a c.60,000 sq ft self-storage facility and c.8,000 sq ft of serviced offices. The company estimates that the costs […]
SEGRO has announced its annual results for the year ended 31 December 2015. The company describes the year as one of strong operating and portfolio performance and they say the results reflect the active management of their assets, positive market dynamics and the strategic repositioning of the company’s portfolio, which is now almost exclusively focused […]
Redefine International has announced the completion of the Placing, which has raised gross proceeds of approximately £115m (net proceeds approximately £109m). A total of 270,588,236 new Ordinary Shares are being issued under the placing. These shares, in aggregate, represent approximately 15.32% of the company’s issued ordinary share capital immediately following admission of the shares. The […]
Schroder European Real Estate announced yesterday that contracts have been exchanged for the purchase of two office buildings located in Germany’s leading office markets Stuttgart and Hamburg, for a total of EUR28.9 million at a blended net initial yield of 6.0%. The assets are fully income producing and multi-let to a combination of governmental and […]
Hammerson announced its results yesterday. The highlights were an 11.3% uplift in its EPRA NAV, a 12.6% increase in its adjusted earnings per share to 23.9p on the back of a 4.3% improvement in net rental income (2.3% like for like). Overall occupancy rose from 97.5% to 97.7%. Retail sales at their centres rose by […]
Regional REIT’s Board has announced that it intends to increase the frequency of dividend payments and move to the payment of quarterly dividends with effect from the financial year beginning 1 January 2016. Further details on the quarterly dividends are expected to be announced alongside the publication of the Company’s results ending 31 December 2015. […]
Hansteen Holdings has announced that it has acquired a further 5.5 million units in the Ashtenne Industrial Fund from clients of CBRE Investors for £2.5m cash, which reflects a price of 46.06p per unit. The company says that the acquisition represents 0.9% of the units in issue and increases Hansteen’s holding in the Ashtenne Industrial […]
Regional REIT Limited has announced that it has exchanged contracts to buy the “Rainbow Portfolio” for £80m from Northwood Investors. The portfolio produces a net yield of 8.2% at a capital rate of only £70 per sq.ft., well below replacement cost. The portfolio comprises 12 assets, five offices and seven industrial sites totalling 1.15m sq.ft. and […]
Green REIT has appointed JLL to sell “The Glas Collection” by private treaty on its behalf. The Collection comprises six properties and provides exposure to almost all Irish property sectors, with a diversified and secure income stream. Four of the six properties are in Dublin and include the mixed use Arena Centre in Tallaght, Ormond […]
Green REIT has announced that it has signed leases with Fidelity International at George’s Quay, Dublin 2 (pictured). Fidelity International will take tenancy in February 2016 of 26,500 square feet in the former offices of Royal Bank of Canada, who have relocated to Georges Quay Plaza, a nearby office block also owned by Green REIT. […]
LondonMetric Property has announced that it has exchanged contracts to sell the Odeon Multiplex Cinema, in Preston, for £10.2m. The sale reflects a net initial yield of 5.75% and the buyer is the Blackrock UK Long Lease Property Fund. The 33,000 square foot property has ten screens and is let to Odeon Cinemas Ltd for […]
Assura has announced that on 21 January 2016, it acquired Malmesbury Medical Enterprise Limited from its former shareholders Kate Badcock, David Charles, Angela Charles, Nigel Pickering, Janet Pickering, John Pettit, Philippa Pettit, Jaqueline Neale, John Harrison, Pamela Harrison, Thomas Estcourt, Sonia Munnelly & David Grogan (together, the “Sellers”). As part of the consideration payable under […]
Hammerson has announced that it has exchanged contracts with Birmingham City Council to acquire the new Grand Central shopping centre in Birmingham for £335m. The company has also said that it is in advanced discussions, with an existing joint venture partner on other assets, about entering into a 50:50 joint venture for the future ownership […]
Safestore Holdings has announced its annual results for the year ended 31 October 2015. The company describes it as being a successful year leaving them well placed for future growth. During the year, the company’s basic EPRA NAV per share has increased by 17.4% to £2.56 (2014: £2.18). The company says that Group like-for-like revenue […]
The Board of AEW UK REIT has announced the acquisition of a multi let industrial warehouse located in Brockhurst Crescent, Walsall, West Midlands, an established commercial area located two miles from Junction 9 of M6. Comprising approximately 142,106 sq ft, the property is fully let to Tata Steel UK and Micheldever Tyre Services providing a […]
LondonMetric Property has announced that its joint venture with the Universities Superannuation Scheme, the Metric Income Plus Limited Partnership, has sold its retail parks at Camborne, Haverhill and Bristol for £29.5m. LondonMetric’s share of the sale proceeds is £14.7m, which reflects a blended net initial yield of 5.8%. Longwell Green Retail Park in Bristol has […]
Intu Properties has announced that it has announced that it has commenced a (secondary) public offering in the United States whereby it will sell 11,357,837 shares of the common stock of Equity One, Inc. The shares are owned by Intu properties’ wholly-owned subsidiary, Liberty International Holdings Limited. Equity One is a real estate investment trust […]
Hammerson has announce that it has exchanged contracts to sell the Villebon 2 retail park to a consortium of French institutional investors for €159m (£116m). Villebon 2 is located in Villebon-sur-Yvette, in the south of Paris region. The park covers 47,500 square metres and was acquired by Hammerson in 2005. Hammerson say that it has […]
Empiric Student Property has announced that it has acquired the freehold of Ayton House, a 241 bed, student accommodation property in St Andrews for £26.0m (excluding costs). Ayton House is Empiric’s first acquisition in St Andrews and was newly completed for the 2015/16 academic year. The property, which is located in a prominent position in […]
Black Sea Property says it has been advised that the acquisition of properties that it is considering would not satisfy AIM that it was implementing its investment policy. The effect of this is that the company will have its admission to listing cancelled on 16 January. The Board are mulling their options and will shortly […]
Highcroft Investment has announced that Rodenhurst Estates Limited (a property owning subsidiary of Highcroft Investments PLC) has agreed the sale of a freehold building in Market Place, Kingston upon Thames to a private investor for £1.125m (a 61% premium over its 31 December 2014 valuation of £700k). The property comprises a listed shop property fronting […]
Schroder European Real Estate Investment Trust has announce that it has exchanged contracts to purchase freehold office property located in Boulogne-Billancourt (Paris) for €37.5m. The purchase is the company’s first since its launch (the company listed on the London Stock Exchange on 9 December 2015) and the purchase price represents a net initial yield of […]
Hansteen has announced that it has acquired a further 31.6m units in the Ashtenne Industrial Fund for £15.4m in cash, reflecting a price of 0.4869 pence per unit. The price represents an effective 5% discount to Hansteen’s carrying value for the Fund as at 30 June 2015. This acquisition represents 5.3% of the units of […]
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