Nick Leslau’s Secure Income REIT, saw shares drop 0.84% to 295p on Wednesday, despite announcing it had put the world famous attraction Madame Tussauds on the market for £320m.
While, Leslau said he was not calling the top of the market, he did tell Property Week he felt central London was “quite steamy”, but also insisted other assets in the group, which include Alton Towers and Thorpe Park, were not for sale. The sale process is expected to take four to eight weeks.
After closing at a four-month high on Tuesday, the FTSE 100 index fell back on Wednesday as a drop in oil prices hit energy stocks.
The FTSE 100 closed down 0.2% at 6,860, but UK REITs fared better, rising 0.2% to 3,366.10.
The biggest riser among the REITs was storage group Big Yellow, which saw shares rise 1.87% to 653p, bringing a £1bn market value within reach. Other risers included Land Securities, up 0.78% to 1,295p, Great Portland Estates, up 0.75% to 799p and Derwent London, up 0.63% to 3,340p.
However, despite revealing $690m at its disposal for its growth plans, Hibernia REIT shares were the biggest faller among the REITs, falling 2.63% to €1.12. Others in negative territory included industrial specialists Segro also saw share drop 0.97% to 419.1p.
Away from the REITs estate agent Foxtons continued its strong share performance during 2015, up 4.63% to 197.75p, while, Countrywide share shares rise 2.88% to 497p. Savills fell slightly, by 0.27% to 731p, following strong gains last month.
On the currency markets, the pound fell 0.29% against the dollar to $1.521 and rose 0.90% against the euro to €1.333.
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