Real Estate News
This sector includes mortgage companies, property management companies and REITs
This sector includes mortgage companies, property management companies and REITs
St Modwen Properties has continued to ramp up development of industrial and logistics assets, as it looks to take advantage of occupier demand in the sector. In a trading update this morning, the company said it had completed 1.2m sq ft of developments in the sector this year, an increase on the 0.9m sq ft […]
Derwent London sells Johnson Building – Derwent London has exchanged contracts to sell its 192,700 sq ft freehold interest in Johnson Building, 77 Hatton Garden and 5-7 St Cross Street EC1 to Eurazeo Patrimoine, the real assets division of Eurazeo. The headline price is £170m before rental top-ups of £2.4m for incentives and vacant space. The […]
In QuotedData’s morning briefing 3 December 2020: Jupiter UK Growth’s board has agreed in principle to a voluntary winding up of the company and the offer of cash or a rollover into an open-ended UCITS fund, the Brown Advisory Global Leaders Fund. The rollover fund’s investment objective is to achieve capital appreciation by investing primarily in […]
Tritax EuroBox has acquired an asset in Belgium for €31.2m, bringing the group to full deployment of equity and debt. The newly built 34,125 sqm logistics facility in Nivelles, south of Brussels, comprises two units (one of 18,140 sqm and the other 15,985 sqm) and will be bought from Logistics Capital Partners, a European developer and […]
Residential Secure Income REIT (RESI) has published its annual results for the year ended 30 September 2020 in which it shows resilience in its performance. The announcement provides a summary of the key highlights in a number of areas, and these are reproduced below. Financial highlights – Resilient performance from existing portfolio Robust performance through […]
Custodian REIT posted a 6.3% drop in net asset value (NAV) in interim results today as the COVID-19 pandemic continued to impact its portfolio. The company reported a NAV per share of 95.2p (March 2020: 101.6p), after a 5.1% fall in the value of its property portfolio during the six months to the end of […]
Sirius buys Nuremberg business and industrial park – Sirius Real Estate has notarised the acquisition of a multi-tenanted business park in Nuremberg for a total acquisition cost of €13.7 million, reflecting an EPRA net initial yield of 7.1%. The purchase will be funded from existing cash resources, with completion expected in January 2021. Sirius is acquiring […]
Alternative Income REIT buys retail park – Alternative Income REIT has exchanged contracts to acquire the Droitwich Spa Retail Park for £4.75m, in an off market transaction. The price represents a discount to replacement cost and reflects a net initial yield of 7.95%. This is the first deal that the trust has done led by its […]
In QuotedData’s morning briefing 1 December 2020: Polar Capital Global Financials says that George Barrow has been appointed as joint fund manager of the trust, alongside Nick Brind and John Yakas. George joined Polar Capital in September 2010 and has over 10 years’ experience analysing Europe, Asia and emerging markets. Prior to joining Polar Capital, he […]
Civitas Social Housing has posted a solid set of interim results in which most metrics saw positive moves. Its IFRS net asset value (NAV) per share nudged up slightly to 108.01p in the six months to the end of September (March 2020: 107.87p). The group’s property portfolio was valued at £898.5m, up 6.77% on last […]
Custodian REIT buys Derby industrial units – Custodian REIT has acquired four industrial units covering an aggregate 23,250 sq ft on Hilton Business Park, Derby, one mile from the A50 which connects the M1 and M6. The units are occupied by M P Bio Science, Shakespeare Pharma and Jangala Softplay with a weighted average unexpired term to […]
In QuotedData’s morning briefing 30 November 2020: The Renewables Infrastructure Group raised £200m from its placing last week, and plans to issue 160m shares. The issue was oversubscribed. Technically, it might still not happen as the issue was done on the expectation that shareholders approve the issue of these shares at an EGM to be held […]
QuotedData’s weekly news show 27 November 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: Schroder British Opportunities IPO Nippon Active Value’s plan to bid for a company CC Japan’s plan to issue […]
It is that time of year again – Black Friday. The US export has quickly become one of the biggest shopping days in the UK. But with shops closed due to lockdown, it will almost entirely take place online this year. It is estimated that £6bn will be spent on Black Friday this year versus […]
Thanks to everyone that tuned into the ‘E’ for environmental day of our ESG conference this week. If you missed it, you can listen back to presentations by the AIC, Bluefield Solar, SDCL Energy Efficiency and Jupiter Green here. Next Tuesday it is the turn of ‘S’ for Social. The line-up for the social day […]
NewRiver REIT reported another drop in the value of its portfolio but said it intends to pay a full year dividend in 2021. The group saw its EPRA net tangible assets (NTA) per share drop from 201p in March to 171p in September, mainly due to an 8.2% valuation decline in its portfolio to £1,058m. Pre-tax […]
LXi buys store portfolio – LXi REIT reports the acquisition of 11 foodstores and two discount stores from five different vendors/developers for a total cost of £61m. The stores have been acquired at an average net initial yield of 5.7% (net of acquisition costs) and with a strong and diversified tenant base in the form of Aldi, […]
In QuotedData’s morning briefing 26 November 2020: JLEN Environmental Assets Group’s half year results show a small drop in NAV from 97.5p to 96.1p, driven by falling power and gas price estimates. Dividends are on target, however and these are covered by cash generated from operations. Montanaro UK Smaller’s interim results show it lagging its Numis […]
London office developer and landlord Helical has posted a 3.2% fall in net asset value (NAV) for the six months to the end of September. NAV for the half-year came in at £579.2m, compared to £598.7m at the end of March, with EPRA net tangible asset per share down 3.6% to 505p (March 2020: 524p). […]
In QuotedData’s morning briefing 25 November 2020: Gresham House Energy Storage has successfully raised gross proceeds of £120m through the issue of 114,285,714 shares at 105p. The issue was oversubscribed. The money will enable the company to finance up to six new near-term acquisitions totalling 245MW. RDL Realisation says that it intends for the company to become […]
Countrywide shareholders opposed to Alchemy fundraise – On 22 October 2020, Countrywide announced a proposed recapitalisation that included an equity raising of approximately £90m fully underwritten by Alchemy Partners. However, discussions with shareholders have indicated insufficient support for this proposal in its current form, but also a recognition of the need for new capital and a […]
In QuotedData’s morning briefing 24 November 2020: Gore Street Energy Storage says its Drumkee project, a 50MW installed capacity project located in Northern Ireland, has been energised on schedule. Drumkee is now the largest energy storage project in Ireland. Mullavilly, Gore Street’s second 50MW Northern Irish project, is expected to be energised in December. Both Drumkee and […]
LXI REIT has reported a 2.9% fall in EPRA net tangible assets (NTA) in half-year results, as the value of its hotel and leisure portfolio took a hit during the pandemic. The company, which specialises in inflation-protected long income real estate, posted an EPRA NTA of 120.8p at 30 September 2020, compared to 124.3p at […]
Sirius Real Estate, the operator of business parks in Germany, has posted a 5% increase in net asset value (NAV) in half-year results to the end of September. The growth in NAV per share to 81.18c (March 2020: 77.35c) was mainly driven by a 4.3% uptick in the value of its portfolio to €1,229.7m. Sirius […]
Harworth Group has acquired an industrial park in Merseyside for £26m, as it continues to grow its exposure to the sector. The developer and investor has bought Saturn Park in Knowsley at a net initial yield of 7.7%. Located on a 35.2-acre site, Saturn Park comprises 416,000 sq. ft of modern warehouse space across three units […]
In QuotedData’s morning briefing 23 November 2020: US Solar Fund says that all 41 projects in its portfolio, totaling 443MWDC, are now fully operating and generating revenue. The final project, the 128MWDC Milford plant in Utah, reached the commercial operations date under its power purchase agreement (PPA) on 19 November, on-time and under-budget – saving $4m […]
Commercial property valuation has been a bone of contention for years. It is generally accepted that valuers are slow to react to changes in the sector. Just look at the recent history of retail valuations. Despite clear evidence that rents were falling due to the impact on retailer demand for space caused by a boom […]
QuotedData’s weekly news show 20 November 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: BlackRock Throgmorton’s fundraise Montanaro European’s excellent results UK Mortgage’s plan for the future Watch it again here We’ll be […]
Urban&Civic has announced its annual results for the year ended 30 September 2020, which includes commentary on the previously announced recommended offer from Wellcome Trust that the board describes as a persuasive outcome for all stakeholders. It says that the all cash offer of 345p per share is above up to date EPRA NAV and […]
Unite Group has announced that it has acquired an 800-bed development site in Paddington, central London on a subject to planning basis. It has also provided an update on check-in performance for the 2020/21 academic year. Paddington development site acquired from Travis Perkins Unite has exchanged contracts to acquire a new 800-bed development site in […]