All Finance articles – Page 3
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OnlineIntu seeks standstill agreements with lenders in effort to avoid collapse
Troubled shopping centres giant Intu has said it is seeking standstill agreements with lenders in order to prevent expected covenant breaches.
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News
Demand for secondary offices set to fall, new Landsec boss warns
The chief executive of one of the UK’s largest property companies has warned that demand for secondary office stock will plummet as a result of the Covid-19 pandemic.
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Government pension funds merged
Two local government pension schemes maintained by South Tyneside Council and Northumberland County Council will merge following a government consultation.
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Investec provides £11.26m loan for Chancerygate industrial development
Investec Structured Property Finance has completed an £11.26m two-year loan to fund nine industrial units.
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Two years’ worth of real estate profit warnings issued in Q1, according to EY
More than two years’ worth of profit warnings have been issued in the first quarter of this year by the real estate sector.
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New M Capital £100m real estate fund launching in June
A new real estate fund targeting international luxury real estate developments will launch next month.
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Sirius Real Estate collects 98% rent
Sirius Real Estate has confirmed it will pay its interim dividend as it reported collecting 98% rent and service charge collection in April.
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Landsec reports £837m pre-tax loss as retail values drop
New boss Allan says a six-month strategic review will see it ‘facing up to certain realities’ in light of Covid-19.
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Secure Income REIT acquires £250k stock
Secure Income REIT has acquired £250,000 in stock, further increasing the company’s holdings.
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Intu completes sale of Spanish shopping centre
Troubled shopping centre group intu has completed the sale of the Puerto Venecia shopping centre in Spain for €475.3m (£406m).
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Beauchamp boss joins Bank of England economy panel
Upmarket estate agency Beauchamp Estates has joined the Bank of England’s advisory panel of companies and senior directors, with the agency providing company data and property sector statistics to assist the bank with post-Brexit economic outlook policy.
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Stock market summary: 12 May
Landsec’s share price drops 13% as it releases a set of gloomy forecasts in its final year results.
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Furlough scheme extended until October
The government’s furlough scheme has been extended until the end of October, Chancellor Rishi Sunak announced today.
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News
Colony Capital portfolio defaults on £2.59bn of hotel debt
Real estate investor Colony Capital has said its portfolio companies have defaulted on $3.2bn (£2.59bn), backed by hotel and healthcare properties.
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Civitas collects 99% of rent payments for Q1 2020
Civitas has collected 99% of rent payments for the first quarter of 2020, suggesting the social housing provider’s rent collection has been unaffected by Covid-19.
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Landsec cancels final dividend as it warns of “profound” impact of Covid-19 on property sector
Landsec will not pay a final dividend after reporting a sharp fall in net asset value (NAV) warning the UK economy is unlikely to recover to pre-Covid-19 until 2022 “at the earliest”.
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Government faces flood of business rate appeals
Thousands of businesses are coming together to campaign for a mass refund in property taxes from the government.
