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QuotedData’s morning briefing 11 January 2021

In QuotedData’s morning briefing 11 January 2021 –

  • Tufton Oceanic Assets (SHIP) announced the acquisition of a stainless steel Chemical Tanker for $15.2m, taking its fleet size to twenty vessels. SHIP says it will be employed in a leading chemical tanker pool.
  • Ground Rents Income Fund (GRIO) has responded to leasehold reform proposals that would reduce future residential ground rents to zero and offer rights to extend residential leases to 990 years in return for a premium. It said any potential reform will need to “ensure sufficient compensation for landlords to reflect their legitimate property interests”.
  • PRS REIT has now built 3,163 homes for private rent following an uptick in delivery in the final quarter of 2020 where 529 homes were completed. Its portfolio now has an estimated rental value (ERV) of £29.4m (average £775 per month). Delivery of its 5,000th home is expected later this year or early 2022. The company also confirmed its intention to move from the specialist fund segment to the premium segment of the main market in early 2021.
  • Grainger has completed a forward funding acquisition of a 231-home build to rent development in Bristol for £63.1m. It said it expects this investment to generate a gross yield on cost of c.6% once stabilised.

We also have news of a proposed amendment to Octopus Renewables Infrastructure‘s investment policy and new project investments by Bluefield Solar Income and Gresham House Energy Storage, as well as an update from British Land and the offer of a 50% discount to students from Unite.

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