Latest Finance News
Crest Nicholson warns of further house price falls
Housebuilding giant Crest Nicholson has warned of further slowdown in the housing market as it posted a more than 60% slump in half-year profit, as higher mortgage rates and broader economic worries dampened demand from buyers.
NAV slumps 19% at Schroder REIT
Schroder REIT has suffered a 19% fall in net asset value (NAV) to £300.7m in the year to the end of March, compared to £371.2m for the previous year, as yields expanded by 152 basis points to 7.8% as a result of interest rates rising after Liz Truss’ widely-criticised ...
Net tangible assets slump 15.1% at LXi following Secure Income REIT merger
The value of net tangible assets (NTA) at LXi REIT slumped 15.1% in the year to the end of March to 121.1p per share, compared to 142.6p a year earlier.
First Property Group launches new loan platform
Property fund manager and investor First Property Group has launched a senior loan platform to finance and refinance commercial property.
European investment markets ‘hit pause’ in first three months of 2023
The European commercial real estate market hit pause during the first quarter of 2023, according to research from La Française Real Estate Managers.
NAV falls 17% at Residential Secure in first half
Residential Secure Income (ReSi) has posted a 17% fall in net asset value (NAV) for the six months to the end of March at 90p, compared to 108.8p at the end of September.
Business rates system under strain despite recent overhaul
Introduction of ‘check, challenge, appeal’ system appears to have added extra layers of bureaucracy and cost.
Range of London residential properties flogged at Strettons May auction
Strettons’ latest auction saw a range of residential lots in the capital go under the hammer, with a mixed-use property leading the sale.
Northern Ireland Investment Fund lends £21.3m for 307-room PBSA scheme
The Northern Ireland Investment Fund has provided a £21.3m loan to Bridges Fund Management and Rok Property for the development of a 307-bedroom purpose-built student accommodation (PBSA) scheme in central Belfast.
OneMedical to expand UK portfolio following £30m backing from OakNorth
OakNorth Bank has provided a £30m debt facility to back the expansion of OneMedical Property’s UK medical centres portfolio.
Avison Young team launches Watling Real Estate in Bassi Capital-backed MBO
The national restructuring solutions team from Avison Young has launched Watling Real Estate, following a management buyout (MBO) deal backed by investment group Bassi Capital.
Warehouse REIT swings to £182.8m loss as portfolio value slumps
The value of Warehouse REIT’s portfolio slumped 18.5% in the year to the end of March as the group was hit by industry-wide outward yield movements.
NewRiver outperforms retail market as occupancy recovers to five-year high
Regional shopping centre group NewRiver REIT outperformed the wider retail market in the year to the end of March as the firm claimed the sector’s recovery was now in full swing.
Savills racks up over £60m in May auctions
Savills’ May auctions saw the firm bring in over £60m, with £30.5m raised at its latest sale on 31 May.
Strike picks up the keys to Purplebricks after £1 sale approved
Purplebricks has been sold to Charles Dunstone-backed rival agency Strike for £1 after shareholders voted to approve the only remaining offer on the table.
Only industrial and West End offices to see “robust rental growth” in next five years, says IPF
Industrial assets and London’s West End office market will be the only two property sectors to outperform the all- property average during the next five years, according to an International Property Forum (IPF) report.
Deloitte bolsters real assets advisory business with new hires
Deloitte has made four senior appointments within its real assets advisory team, including two new partners and two new directors.
OneMedical to expand UK portfolio following £30m backing from OakNorth
OakNorth Bank has provided a £30m debt facility to back the expansion of OneMedical Property’s UK medical centres portfolio.
Watkin Jones agrees forward-funding deal on Belfast BTR scheme
Watkin Jones and Lacuna Developments have agreed a deal with Legal & General and Clanmil Housing Association to forward-fund the Loft Lines build-to-rent (BTR) scheme in the Titanic Quarter in Belfast.
FDC secures £30m following year of record lending to SMEs
Frontier Development Capital (FDC) has raised a further £30m from existing investors West Midlands Pension Fund and British Business Investments after completing a record year for investment.
Prime central London housing shines amid economic gloom
While the wider market outlook is uncertain, overseas buyers are driving a boom in high-end London housing.
PW Share Index
Review the latest share prices of the FTSE-listed property investment companies using data provided by the European Public Real Estate Association.
Stock Market
FCA to consult on stock exchange listing rules
The Financial Conduct Authority (FCA) has published proposed changes to rules on listing companies, which it hopes will make regulation easier to understand, more effective and competitive, after a raft of businesses snubbed the UK’s leading public market.
Property Funds
First Property Group launches new loan platform
Property fund manager and investor First Property Group has launched a senior loan platform to finance and refinance commercial property.
