This sector includes mortgage companies, property management companies and REITs
Black Sea Property has sent its shareholders a circular to convene an extraordinary general meeting at which it wants them to approve proposals to recommence investment activities in the residential real estate, holiday homes, commercial real estate and distressed real estate markets of Bulgaria, to adopt a new investing policy, appoint a new investment advisor, extend the […]
Empiric Student Property has acquired a student accommodation development in Aberdeen: Spital Court Studios. The deal is to buy the freehold of a forward funded development in Aberdeen currently being developed into purpose-built student accommodation by local developer, Scape Homes. The site is located on the corner of St Peter Street and St Peter Lane, within half a mile […]
Empiric Student Property’s acquisition spree continues with the £11.92m purchase of the Ballet School in Glasgow. The Ballet School is a conversion of the listed former home of the Scottish Ballet, on Willowbank Crescent, comprising 103 self-contained studios of various sizes, which was completed in 2013. The property has been bought from the developer, CCG (Scotland) […]
Raven Russia has announced results for the year that ended on 31 December 2014. Over the period the company’s fully diluted, adjusted net asset per share fell to 106cents from 126cents. The proposed final distribution, equivalent to 3.5 pence per share, makes a total of 6 pence per share for 2014, a 20% increase on 2013. They intend to […]
Hansteen’s results for the year ended 31 December 2014 show a 12.1% increase in its EPRA Net asset value and a 4% increase in its EPRA earnings per share. They have increased the full year dividend from 4.8p to 5p and, in addition, are paying a special dividend of 3p per share. This brings the […]
British Land has announced that it is paying £135m for Surrey Quays Leisure Park – the seller is Aviva Investors. When combined with Surrey Quays Shopping Centre and Harmsworth Quays, the former Daily Mail General Trust printing works, British Land has now assembled a 50 acre site close to Canada Water and Surrey Quays stations that it […]
Over 2014, intu Properties net asset value rose from 346p to 379p, an increase of 9.5%. this was achieved on the back of an increase in their underlying property value of 8.2% which was ahead of the return on the equivalent IPD index of 7.3%. The weighted average equivalent yield on their properties fell from […]
A&J Mucklow has announced interim results for the six months ended 31 December 2014. Over the period its EPRA net asset value rose by 8.9% from 358p to 390p on property revalued upwards by 6.9% (industrial property increased in value by 8.4%; offices by 5.8% and retail property by 3.1%. Occupancy was better, at 94.3% […]
Hammerson has announced results for the year ended 31 December 2014 that show its EPRA net asset value rising from 573p to 638p, an increase of 11.3%. The portfolio total return was 13.6%. Dividends totalled 20.4p up from 19.1p and these are payable from earnings per share up 3.5% from 23.1p to 23.9p. Like for like […]
British Land announced this morning that it has started work on its development at 4 Kingdom Street in Paddington. The recently re-designed nine storey building will have typical floorplates of 15,000 sq ft, with each floor having a large corner terrace and a glass pod designed as a creative meeting space. The core of the […]
Sirius Real Estate is spending €21.8m on two business parks in Aachen and Bonn. The Aachen business park is located in the expanding Würselen district, just west of the Company’s Bonn and Cologne parks and well situated next to the Dutch and Belgian borders. It has a total lettable area of 26,759 sqm and is […]
Derwent London has announced a deal with LaSalle Investment Management where it is swapping 22 Kingsway WC2, Mark Square House EC2, and a 50% interest in a new joint venture at 9 and 16 Prescot Street E1 for a minimum 175-year long leasehold of 20 Farringdon Road, Clerkenwell EC1 and £27.3m in cash. 20 Farringdon Road […]
Empiric Student Property has made its first acquisition in London with the purchase of a student accommodation block from Brandeaux Accommodation Funds for £13.25m. The announcement says the property, Liberty Fields in Camberwell, South London, is a high-quality conversion of an attractive building, which was part built in the 1930s and the 1970s and is part […]
Redefine International has announced that it has bought 56 German retail properties in a 50/50 joint venture with Redefine Properties Limited (Redefine International’s largest shareholder). The whole portfolio is valued at €157m which equates to an initial yield of 7.5%. The portfolio comes with €100m of bank debt, they expect to refinance this shortly (approximately […]
McKay Securities has announced that it has started work on the development of an office development in Redhill, Surrey. the completed project will offer 48,050 sq ft, (4,463 sq. m) of office space laid out over a ground floor and three upper floors, with 87 car parking spaces at ground and basement level. They are calling the […]
Safestore has published results for the year ended 31 October 2014 that show its EPRA NAV growing by 3.6% to 218p, an increase in the dividend from 5.75p to 7.45p. They reported a fall in earnings per share from 57.8p to 23.2p (-60%) but there was a 31.8p per share impact from a deferred tax credit that arose […]
Workspace Group has announced that it has bought Edinburgh House, SE11 for £25.3m and Peer House, WC1 for £6.1m. Edinburgh House is a prominent building in Kennington, close to Oval and Kennington Underground stations, the Vauxhall transport hub on London’s South Bank and Workspace’s existing cluster of properties in this area. Originally constructed in the 1970’s and […]
British Land has announced the sales of a retail and office portfolio in an off-market deal to Legal & General Property for £219.6m, ahead of September book value. The portfolio comprises: – Kingswood Retail Park, Hull (sold for £58.0m, at a 5.7% net initial yield) – House of Fraser, Birmingham (sold for £71.4m, at a […]
Intu Properties is buying Puerto Venecia shopping centre and retail park in Zaragoza for €451m. The price equates to an initial yield of 5% (based on rental income of €22.4m). €225m of the cost will be funded by a term loan supplied by HSBC (interest rate of 3.5%) and the balance will come from Intu’s own […]
Empiric Student Property has bought the Algernon Firth student accommodation block in Leeds for £7.2m. Algernon Firth has 111 beds arranged as a mixture of en-suite flats and loft-style studios. The apartments sit within in a Grade II listed building that was originally built for the University of Leeds in 1933 and is named after Yorkshire Industrialist, […]
Local Shopping REIT managed to generate an NAV uplift of just 1p per share (from 41p to 42p) over its accounting year that finished on 30 September. LSR adopted a policy of selling off its portfolio and returning proceeds to shareholders in July 2103 and has made some progress with this over the year. It managed […]
Hansteen has sold off £43.9m worth of its industrial portfolio. The eleven UK assets sold from the Ashtenne Industrial Fund (which Hansteen holds 36.7% of) comprise Langley Park (a 48 acre site in the centre of Chippenham in Wiltshire with 800,000 sq ft of office and industrial space occupied by tenants including Siemens PLCS, IXYS […]
The net asset value of South African Property Opportunities (SAPO) fell from 69p to 37p per share over the year to end June 2014 (somewhat ancient history now). 19p of the fall was accounted for by a distribution they made to shareholders, 10p relates to a fall in the value of the South African Rand […]
Over the year to the end of September 2014, Henderson European Focus Trust’s net asset value total return was 14.5% – well ahead of the return generated by its benchmark, the FTSE World Europe ex UK Index. Shareholders did even better, with a return of 19.3%. It even beat its peer group by a significant […]
Terra Catalyst Fund‘s sole remaining material holding is its 72.4% holding in Spazio Investments NV, an Italian registered Fund which invests in Italian property. This follows on from the sale of TCF’s holdings in the Tamar European Industrial Fund and Rugby estates earlier this year. Spazio is being held on TCF’s balance sheet at €6.43, unchanged […]
Empiric Student Property has announced it has made a further investment in Exeter. It is spending £4.5m to buy Dean Clarke Lofts, a 30 bed, loft-style student accommodation block. It is a conversion of a Grade 2 listed, Georgian building on Southernhay Gardens in Exeter. It was completed in August 2013 and comprises 30 beds […]
ESP : Empiric buys in Hatfield Empiric Student Property has exchanged contracts to acquire a 199 year lease on a direct-let, premium student accommodation property in Hatfield, Hertfordshire, for a consideration of £9.4m. The deal should complete on or about 17 December 2014. The property, Curzon Point, is an operating, purpose-built student accommodation property on The Common in […]
LMP : LMP announces interims and a couple of deals LondonMetric Property has published its interim results for the period that ended on 30 September 2014 and has also announced a couple of property transactions Over the period the fund’s EPRA net asset value rose by 6.4% to 128.8p on a 5.7% uplift in the […]
LMP : LondonMetric sells Bishop Auckland Retail Park LondonMetric Property is selling Bishop Auckland Retail Park to Standard Life Investments for £23.6m The price works out at an initial yield of 5.27%. LMP bought the land for £2.3m and then spent £15.8m over the course of 2012 and 2013 developing the site and so the […]
DLN : Derwent London buys Angel Square in EC1 Derwent London, which owns a number of properties close to Angel and Old Street tube stations, has acquired the freehold of Angel Square, London EC1 for £75m. The property sits on the corner of Islington Street and City Road, directly above Angel tube station. It consists […]
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