Schroder Real Estate buys 244-248D Commercial Road, Portsmouth (a 27,359 sq ft retail parade let to Sportsdirect.com, Mothercare, Tui and the Gold Centre) and for £7.2m. The initial yield on the purchase price is 8.3%.
Interim results for the half year ended 31 October 2013. NAV rose by 12.6%, well ahead of the Dow Jones World Technology Index which returned 8.9% in sterling terms. The fund moved from trading at a discount to trading at a premium to NAV and so the share price return was 17.1% over the period. […]
Interim results for IIP for six months ended 30 September 2013. NAV falls to 63p from 78p. Fall in value of Indian rupee and increase in the Indian risk free rate (used to value investments) unhelpful, Vikram Logistics having difficulty in getting disbursement of approved debt which is holding up construction. Stakeholders in Shree Maheshwar Hydel Power […]
Qannas has sold its entire holding of shares in Rak Petroleum for $6.66m (bought for $3.85m). QIL NAV now $0.92.
Results for year ended 30 September 2013 show total shareholder return of 13.1%. Quarterly dividends running at 1.425p per quarter, equivalent to a yield of 7.1%. c70% of dividend covered by underlying earnings, NAV fell from 63.7p to 63.1p per share.
Marwyn has written off its investment in Silverdell. this will take 6.47p off the NAV.
Results for the year ended 30 September 2013 show a net asset value total return of 16.9% and a share price total return of 9.7% as the discount (calculated with debt at fair value) expanded from 20% to 28.4%. The full year dividend was maintained at 10.5p per share (net revenue was less than 65% of […]
Great Portland Estates has sold its lease on 20 St. James’s Street (55,490sq ft office / retail building) for £54.5m. The property was acquired for £42.5m in 2010. It was producing a net rent of £1.2m per annum. GPOR will use the proceeds to invest in other projects.
LBOW has made two further loans. One, to Halcyon Nominees for £8.6m, refinances 21 commercial freeholds. The other, to Carrara Nominees for £1.3m, refinances the ground rent on a freehold office property in the North of the UKBOW has now committed 72.2% of its capital.
VinaLand(VNL) is considering raising £20m by issuing 20m zero dividend preference shares at 100p. The new ZDPs would have a life of three years and the gross redemption yield would be determined by a bookbuild – potential investors will be asked to bid for the ZDPs at yields between 7% and 8%. The issue proceeds […]
