Overview
Shaftesbury is a REIT focused on real estate in London’s West End. It focuses on central locations close to a concentration of world-class attractions which attract numbers of domestic and overseas visitors.
Research History
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22 Jan 2021 16 min read
QuotedData’s Real Estate Annual Review – 2020
Real Estate Annual Review Kindly sponsored by Aberdeen Standard Investments Riding out the COVID rollercoaster The 2020 rollercoaster saw more downs than ups and at times felt like a pandemic induced freefall. Lockdowns, tiers and plenty of U-turns meant investing in property was not for the faint hearted. Positivity returned at the end of the […]
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14 Jan 2021 12 min read
QuotedData’s Real Estate Roundup – January 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data December’s biggest movers in price terms are shown in the chart below. The boost of coming out of the second national lockdown in early December was short lived as Christmas was cancelled for most of the UK with COVID-19 cases spiking. It did little […]
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17 Dec 2020 16 min read
QuotedData’s Real Estate Roundup – December 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data November’s biggest movers in price terms are shown in the chart below. The eagerly awaited news of a successful vaccine candidate came at the start of November, boosting the stock market. Property companies that had seen their share price battered over the past eight […]
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12 Nov 2020 12 min read
QuotedData’s Real Estate Roundup – November 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data October’s biggest movers in price terms are shown in the chart below. October finished with the threat of a second lockdown looming over the UK as COVID-19 cases continued to rise. However, this did not dampen demand for shares in some of the companies […]
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09 Oct 2020 14 min read
QuotedData’s Real Estate Roundup – October 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data September’s biggest movers in price terms are shown in the chart below. There was an eclectic mix of property companies to feature in the top price movers for September. Top of the tree was private rented sector and residential development specialist Sigma Capital Group, […]
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16 Jul 2020 10 min read
QuotedData’s Real Estate Quarterly Review – Q2 2020
Real Estate Quarterly Roundup Kindly sponsored by Aberdeen Standard Investments A polarised lens The covid-19 pandemic continued to wreak havoc in the real estate in the second quarter, but a polarisation of sectors and funds has started to become apparent. Companies focused on the retail, leisure and hospitality property sectors had already seen huge negative […]
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07 Jul 2020 16 min read
QuotedData’s Real Estate Roundup – July 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data June’s biggest movers in price terms are shown in the chart below. Uncertainty caused by the covid-19 pandemic continued to weigh on property stocks in June and we had the first real casualty in Intu Properties, which collapsed into administration. A number of companies […]
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09 Jun 2020 15 min read
QuotedData’s Real Estate Roundup – June 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data May’s biggest movers in price terms are shown in the chart below. Shares in property companies took another turbulent turn during May as the covid-19 pandemic continued to wreak havoc on property assets. The biggest mover in price terms during the month was an […]
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07 Apr 2020 15 min read
QuotedData’s Real Estate Roundup – April 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data March’s biggest movers in price terms are shown in the chart below. Property stocks took a hammering in March as the covid19 pandemic took hold. The UK was put on lockdown to stop the spread of the coronavirus resulting in the enforced closure of […]
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07 Feb 2020 12 min read
QuotedData’s Real Estate Roundup – February 2020
Real Estate Roundup Performance data January’s biggest movers in price terms are shown in the chart below. The sluggish start to the year for listed property companies is hardly surprising given they were coming off a high base after the “Boris-bounce” following the general election in December. Topping the list was Triple Point Social Housing […]
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30 Jan 2020 16 min read
QuotedData’s Real Estate Annual Review – 2019
Property’s alternative theory The year was dominated by political and economic uncertainty, with Brexit negotiations casting a shadow over the market and the general election adding a further layer of doubt for much of the year. For a market that is staunchly aligned with political and economic sentiment, listed property companies and REITs performed well, […]
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10 Dec 2019 21 min read
QuotedData’s Real Estate Roundup – December 2019
Real Estate Roundup Performance data November’s biggest movers in price terms are shown in the chart below. November saw a host of companies report interim and full year results with varying outcomes. CLS Holdings, which owns a diverse portfolio split between the UK, Germany and France, gave a positive trading update that outlined its capital […]
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10 Oct 2019 30 min read
Retail property market – ready for a renaissance?
Ready for a renaissance? There have been few structural shifts in the property sector as profound as the one currently taking place in retail. Consumer spending patterns have drastically changed over the past five years, with online sales now accounting for 19.7% of all retail spend in the UK (August 2019, source: ONS), compared to […]
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30 min read
Retail property market – ready for a renaissance?
Retail ready for a renaissance? There have been few structural shifts in the property sector as profound as the one currently taking place in retail. Consumer spending patterns have drastically changed over the past five years, with online sales now accounting for 19.7% of all retail spend in the UK (August 2019, source: ONS), compared […]
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18 Sep 2019 9 min read
QuotedData’s Real Estate Roundup – September 2019
Real Estate Roundup Performance data August’s biggest movers in price terms are shown in the chart below. The month of August has traditionally been a quiet period for news and announcements in the property sector, and this year is no different. Central London landlord Shaftesbury, which owns Carnaby Street as well as huge swathes of […]
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19 Dec 2018 2 min read
QuotedData’s economic roundup – December 2018
QuotedData’s economic roundup – December 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any […]
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11 Jun 2018 2 min read
QuotedData’s investment companies roundup – June 2018
QuotedData’s investment companies roundup – June 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2018. Kindly sponsored by Baillie Gifford. The premium of biotech company, Syncona, rose on positive news on two of its […]
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25 Apr 2018 2 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
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10 Jan 2018 2 min read
QuotedData investment companies roundup – January 2018
QuotedData investment companies roundup – January 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of December 2017. Kindly sponsored by Baillie Gifford. January Investment Companies Roundup Winners and losers in December Infrastructure India’s share price […]
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11 Dec 2017 2 min read
QuotedData’s economic round up – December 2017
QuotedData’s economic round up – December 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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14 Sep 2017 2 min read
QuotedData investment companies roundup – September 2017
QuotedData investment companies roundup – September 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2017. Kindly sponsored by Baillie Gifford. September Investment Companies Roundup Winners and losers in August Ashmore Global’s […]
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07 Dec 2016 1 min read
QuotedData’s round up of views on the global economy – December 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. december-economic-and-political-roundup
News
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25 Feb 2021 3 min read
West End landlord Shaftesbury reports grim rent collection rates
Shaftesbury collected just 36% of rent due in the first month of 2021 as the lockdown meant the majority of its portfolio was shuttered. The group, which owns a 16-acre portfolio in the heart of London’s West End – including Carnaby Street, Covent Garden and Chinatown, said it had received £3.5m of the £9.8m billed […]
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15 Dec 2020 1 min read
COVID impact on West End laid bare in Shaftesbury results
The impact of the COVID-19 pandemic on London’s West End was laid bare in Shaftesbury’s full year results, which saw net asset value (NAV) fall 24.3%. The company, which owns a 16-acre portfolio of assets in London’s West End including Carnaby Street, posted an EPRA NAV of £7.43 per share at 30 September 2020 (2019: […]
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17 Nov 2020 2 min read
QuotedData’s morning briefing 17 November 2020
In QuotedData’s morning briefing 17 November 2020: BBGI Global Infrastructure has announced a placing of up to £55m worth of shares at a price between 164p and 172p. the money wil be used to help pay for a 25% stake in Signature on the Saint-Lawrence Group, the operator of the Samuel De Champlain Bridge Corridor in Montreal, […]
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22 Oct 2020 2 min read
Shaftesbury aims to raise £297m in placing
Shaftesbury has announced its intention to raise £297m through a placing to firm up its balance sheet. The company, which owns a 16-acre chunk of London’s West End including Carnaby Street, has been heavily impacted by COVID-19 and the ability of its retail and leisure tenants to pay rent. The issue price of 400p is a […]
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25 Sep 2020 2 min read
Bleak winter ahead for real estate
The brakes have been well and truly pumped on any positive sentiment that may have been building in the real estate sector. After the successful ‘Eat Out to Help Out’ scheme and the government urging people to get back to the office, there was some light at the end of the deep, dark tunnel. That […]
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2 min read
Shaftesbury reveals full scale of COVID impact
Shaftesbury, the REIT that owns a 16-acre property portfolio in the heart of London’s West End, has collected just 41% of rent in the six months to 30 September 2020. The group, which owns properties in Carnaby Street, Soho, Chinatown and Covent Garden, also said vacancy across its portfolio had jumped from 4.8% at the […]
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10 Jun 2020 1 min read
Shaftesbury posts 7.9% drop in portfolio value
Shaftesbury has posted a 7.9% drop in the value of its West End portfolio in half-year results as the impact of the covid-19 lockdown bites. The company’s portfolio was valued at £3.5bn at 31 March 2019. The fall in value of the portfolio resulted in a 10.6% drop in net asset value (NAV) to 878p […]
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01 Jun 2020 2 min read
Capital & Counties agrees deal to buy 26.3% of Shaftesbury
Capital & Counties has agreed to acquire a 26.3% shareholding in rival West End landlord Shaftesbury for £436m. The group will pay 540p per share for the 80.7 million shares from Hong Kong billionaire Samuel Tak Lee. It represents a discount of 13.9% to the closing Shaftesbury share price on 29 May 2020. The price is […]
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29 May 2020 2 min read
Is a central London powerhouse REIT on the cards?
Capital & Counties this week confirmed it was in talks to buy a 26.3% stake in rival West End landlord Shaftesbury in what would be the first steps in a long-mooted merger of the two groups. Capco, which owns huge swathes of Covent Garden, is in discussions to buy Hong Kong billionaire Samuel Tak Lee’s […]
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2 min read
Capco eyes up takeover of Shaftesbury
West End property landlord Capital & Counties (Capco) is in talks to acquire a 26.3% stake in rival Shaftesbury, potentially paving the way for a multi-billion pound takeover. Capco, which owns a vast chunk of Covent Garden, confirmed it was in discussions to buy the stake from Hong Kong billionaire Samuel Tak Lee following a […]
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03 Feb 2020 1 min read
QuotedData’s other news 3 February 2020
In QuotedData’s other news 3 February 2020 BlackRock Throgmorton is asking shareholders for permission to issue more shares, having resold 5.5m of the 7m shares it was holding in Treasury. Ioannis Papalekas, the CEO of Globalworth has sold his entire stake in the company for €244.6m. he also freed up another €39m by selling the company […]
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31 Jan 2020 2 min read
Shaftesbury reports strong Christmas trading period
West End of London landlord Shaftesbury bucked the trend of retail negativity and reported a strong Christmas trading period. The company, which owns a 15.2-acre portfolio in the heart of the West End including Carnaby Street, said early data indicated retailers and food and beverage operators in its portfolio saw turnover and footfall growth in […]
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21 Jan 2020 3 min read
Shaftesbury dispute with Samuel Tak Lee rumbles on
Shaftesbury dispute with Samuel Tak Lee rumbles on – first a statement from the board: “As shareholders will be aware, the Board was served with legal proceedings issued by companies controlled by Mr Lee in June 2019. The proceedings concern allegations and claims relating to the equity placing conducted by the Company in December 2017, […]
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18 Dec 2019 1 min read
Shaftesbury agrees pre-let at Carnaby Street office redevelopment
Shaftesbury has pre-letted almost 50% of the office space at its 72 Broadwick Street redevelopment in Carnaby Street to American fitness and lifestyle brand Equinox. The group has entered into an agreement to let 32,000 sq ft of space at the 66,000 sq ft building. It is expected the space will be handed over for fitting out […]
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25 Sep 2019 1 min read
Shaftesbury upbeat despite wider retail woes
Shaftesbury upbeat despite wider retail woes – in a trading statement covering the period from 1 April to 24 September, Shaftesbury, the owner of 15.2 acres of property in London’s West End, said: West End remains busy and our food, beverage, leisure and retail occupiers continue, on average, to report year-on-year sales growth. Continued good […]
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11 Jun 2019 1 min read
QuotedData’s other news 11 June 2019
In QuotedData’s other news 11 June 2019: Shaftesbury says it has now been served with legal proceedings issued by companies controlled by Mr Samuel Tak Lee. The proceedings concern allegations and claims relating to the December 2017 placing of shares by Shaftesbury. They seek to challenge both the rationale for the placing and the way in which […]
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05 Jun 2019 1 min read
QuotedData’s other news 5 June 2019
In QuotedData’s other news 5 June 2019: RDI REIT has refinanced its London Serviced Office portfolio with a new GBP75.0 million financing facility provided by Aberdeen Standard Investments for a seven-year term. To be used to refinance two existing facilities maturing in December 2019 and August 2022 Value & Income NAV return for year ended 31 March […]
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02 May 2019 2 min read
Samuel Tak Lee locks horns with Shaftesbury again
Shaftesbury has announced that its board has received “a letter before action and a draft particulars of claim” from companies controlled by Mr Samuel Tak Lee. Shaftesbury says that these concerns allegations and claims relating to the placing conducted by Shaftesbury in December 2017. Mr Lee, a Hong Kong billionaire property magnate, currently has an interest […]
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27 Nov 2018 2 min read
Shaftesbury resilient to Brexit slowdown
Shaftesbury resilient to Brexit slowdown – Shaftesbury PLC owns a 15-acre portfolio in the heart of London’s West End. It says “The West End’s global appeal and resilient, broad-based economy provide considerable insulation from headwinds affecting the national economy and consumer confidence“. For the year ended 30 September 2018, it reports: EPRA NAV of GBP9.91 (2017: […]
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01 Feb 2018 10 min read
Tak Lee opposes Shaftesbury fundraise
Tak Lee opposes Shaftesbury fundraise – On 30 January Shaftesbury announced that it had received a statement from Mr. Samuel Tak Lee, the ultimate beneficial owner of a 25.02% stake in the company. The statement indicates that the shares ultimately owned by Mr. Samuel Tak Lee will be voted against the following resolutions to be proposed at […]
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20 Dec 2017 1 min read
Shaftesbury expands in Seven Dials area
Shaftesbury expands in Seven Dials area – Shaftesbury PLC, which already owns a 14.9 acre property portfolio in London’s West End, has announced that it has acquired six buildings on Neal Street, Seven Dials, for a total consideration of GBP24.6 million, inclusive of acquisition costs. Located on the northern end of Neal Street, between Short’s Gardens and […]
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06 Dec 2017 2 min read
Shaftesbury looks to raise £265m as buys in Broadwick Street
Shaftesbury looks to raise £265m as buys in Broadwick Street – Shaftesbury is placing up to 27,855,508 ordinary shares at 265p per share to raise gross proceeds of £265m. 952p is the same level as the EPRA NAV at the end of September 2017 and it is a 4% discount to the share price on […]
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28 Nov 2017 2 min read
Shaftesbury looks forward to Crossrail completion
Shaftesbury looks forward to Crossrail completion – Shaftesbury has posted results for the year ended 30 September 2017 that show that its EPRA NAV rose by 7.2% over the year to 952p and its EPRA earnings per share came in at 16.2p, up 15.7% on the year. The dividend has been increased from 14.7p to […]
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21 Aug 2017 1 min read
Shaftesbury buys Berwick Street development
Shaftesbury buys Berwick Street development – Shaftesbury PLC, the Real Estate Investment Trust which owns a 14 1/2 acre portfolio in London’s West End, announces that it has entered in to a contract with PMB Holdings Limited to acquire a long-leasehold interest in 90-104 Berwick Street, Soho, London W1 at a price of GBP38.5 million. […]
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13 Jun 2017 1 min read
Investment Trust Insider on UK property
Brexit isn’t all bad news for UK property The past couple of weeks have seen a clutch of results announcements by the larger real estate investment (REIT) and property trusts. The periods they are reporting on incorporate the run up to the referendum vote and its aftermath, and adverse changes to the stamp duty regime. […]
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27 Feb 2017 5 min read
Mining underweight sees Standard Life UK Smaller Companies modestly underperform
Standard Life UK Smaller Companies has announced its interim results for the half year ended 31 December 2016. During the period, the company provided an NAV total return of 16.7% and a share price total return of 17.7%, these both modestly underperformed the company’s ‘reference index’, the Numis Smaller Companies Index (excluding Investment Companies) Index, […]
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29 Nov 2016 4 min read
Shaftesbury highlights 30%-45% increase in business rates
Shaftesbury has published its results for the year ended 30 September 2016. Its EPRA NAV at the end of the period was GBP8.88 per share, an increase of 19p (2.2%). Portfolio capital value growth added 43p (4.9%) before a reduction of 24p as a result of early termination of debenture debt and interest rate swaps. EPRA […]
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25 May 2016 3 min read
Shaftesbury NAV edges higher
Shaftesbury reports that its EPRA NAV at the end of March 2016 was GBP8.93 per share, an increase of 24 pence (2.8%) over six months, after a reduction of 10 pence per share as a result of the increase in SDLT announced in the March 2016 Budget. EPRA earnings increased by 12.8% to GBP20.2 million (six months ended […]
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28 Jan 2016 1 min read
Shaftesbury gets planning for 57 Broadwick Street
Shaftesbury PLC, the West End-focused Real Estate Investment Trust, announces that Westminster City Council’s Planning Committee yesterday evening resolved to grant consent for the Group’s application to reconfigure and extend 57 Broadwick Street, Carnaby, a prominent building at the eastern gateway to Carnaby. Their scheme for the building, which was acquired in March 2014, provides […]
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24 Nov 2015 1 min read
Demand for West End property evident in Shaftesbury results
Shaftesbury has published results for the year ended 30 September 2015. The EPRA NAV increased by 21.9% to 869p and EPRA earnings per share increased by 6.6% to 13p. The total dividend for the year was upped by 5% to 13.75p. Commercial rent reviews came in at 24.8% above previous rents, equivalent to five-year compound […]
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21 Jul 2015 1 min read
Shaftesbury Board does not recommend Lee Family offer
Shaftesbury, the REIT focused on London’s West End, saw an announcement yesterday from entities controlled by the ‘Lee Family’ (principally through Mr Samuel Tak Lee) of a tender offer to acquire up to 9.3% of the shares in Shaftesbury at a price of 888p per share. If the tender is successful, the Lee family will control 13.2% […]
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18 Mar 2015 1 min read
Shaftesbury secures new financing arrangements
Shaftesbury has announced that it has secured a new £130m term loan with Aviva Commercial Finance Limited for 15 years until March 2030.The loan is secured on certain properties held in a subsidiary company and has a fixed interest rate of 3.2% throughout the term. On drawing down the loan from Aviva, Shaftesbury is to […]
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20 Feb 2015 1 min read
Stock selection helps JPMorgan Mid Cap to a great H2 for 2014
JPMorgan Mid Cap has announced interim results for the six months ended 31 December 2014 that show the fund delivering a total return on net assets of 9.6% – well ahead of the FTSE Mid 250 Index which returned 3.2%. The return to shareholders was 9.2%. the interim dividend has been increased by 45%, from […]
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19 May 2014 1 min read
Shaftesbury : SHB – interim results
Shaftesbury has released its interim results for the six months ended 31 March 2014. Over this time its EPRA NAV rose by 5.1% to 596p. The interim dividend has been increased by 4% to 6.5p. Altogether the total return on net assets was 6.2%. The capital return on the portfolio was 5.4% – in line […]
