Latest Finance News
CapReg bounces back from pandemic as footfall and rental income rise
The group’s net rental income rose 5% and asset valuations grew 2.6% in 2023.
Premier Inn owner Whitbread to close loss-making restaurants and expand hotel business
Whitbread plans to sell 126 branded restaurants over the next 24 months and convert 112 into hotel rooms.
Grosvenor reports fall in asset values and profits for 2023
Pre-tax profit at Grosvenor fell by £11.2m, driven by losses in its international business.
WeWork agrees £358m bankruptcy rescue plan to shut out Neumann’s bid
The restructuring plan would effectively end Adam Neumann’s bid to buy back the firm.
UK Infrastructure Bank commits to 28,000 sq ft office space in Leeds
The bank will move into its city centre location in early summer.
LGIM launches student living platform with £122m purchase
Company buys two PBSA schemes in Exeter and Glasgow on behalf of Legal & General Retirement Institutional.
GPE makes raft of appointments as it targets 1m sq ft of flex space
GPE’s is looking to double the size of its flexible office portfolio.
Foundation and Deer Capital acquire Hartford Care for £100m
The deal will back Harford Care’s plans to double the size of its portfolio by 2026.
Edmond de Rothschild appoints Dhananjai as CIO for REIM business
Teh company has also hired two other professionals to support development of its European real estate investment management arm.
Supermarket Income REIT buys £64m French portfolio
The portfolio comprises 17 Carrefour Market supermarkets.
Canary Wharf Group’s property values fall with offices hit hardest
Canary Wharf Group saw a loss of circa £900m on its office estate.
URW reports 21.6% UK shopping centre rental growth for Q1
UK shopping centres Westfield Stratford and Westfield London outperform US and French centres.
Prime office investments ‘to generate highest returns across all sectors’, AEW reports
The report also highlights improving expectations for capital values since Q4 2022 across all sectors apart fom offices.
UK investment volumes fall 11% in Q1, MSCI data finds
Q1 2024 was the fifth-worst quarter on record for office sales in London.
Brightbay Real Estate Partners expands senior team
George Jerram joins from Chancerygate’s asset management department where he served as a director.
Home completions at Persimmon fall 10%
Housebuilder posted drop in new home completions during the first three months of it financial year, but reported an improvement in sales rates and “firm pricing”.
Canary Wharf Group expands debt maturities as it secures £553m from lenders
The financing significantly increases CWG’s debt maturities and will support its drive to add more non-office space to the estate.
UK Infrastructure Bank commits to 28,000 sq ft office space in Leeds
The bank will move into its city centre location in early summer.
Thriving Investments secures £20m financing from Scottish National Investment Bank
The commitment takes the Scottish bank’s total investment in the fund to £60m.
LGIM expands Unite relationship with £150m funding
The loan will be used to refinance an existing bank facility for the student accommodation giant’s Unite UK Student Accommodation Fund.
Goldman Sachs hires de Wit to lead real estate investment team in London
The bank’s new recruit will be in charge of the strategic direction and growth of its European Core-plus fund.
CBRE strengthens lending team with OakNorth’s Kare
Kare will be responsible for executing and managing new development loans for CBRE.
Gender pay gap: property firms are ‘impatient for change’
Real estate’s gender pay gap has narrowed 5% since 2017 – but companies are trying to accelerate change through diversity and inclusion initiatives.
Housebuilders see silver lining after cloudy conditions in 2023
Many housebuilders report profit falls for 2023, but they are seeing signs of recovery.
New Reserved Investor Fund set to boost UK fund offering
The government has announced it will begin legislating for the RIF in the Spring Finance Bill 2024.
Why 2024 could be a ‘vintage’ year for real estate investment
DWS UK chief executive and incoming BPF president Jessica Hardman tells Property Week about European investment trends and working through two market downturns.
Consolidation: a key trend for REITs in 2024
Property Week reports on the growing trend towards mergers and acquisitions as REITs bid to increase their scale in the fight for capital access.
Stock Market
FTSE 100 closes at record high with property stocks rising
FTSE 100 property companies enjoyed a boost with SEGRO’s share price rising 1.07%.
Property Funds
L&G UK property fund shareholders approve hybrid fund investment strategy
The structure allows for daily dealing in property, including direct exposure to UK assets and indirect investment in REITs.