All articles by Madeleine Knight – Page 14
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Urban Logistics REIT attributes profits leap to active asset management
Urban Logistics REIT has reported a leap in profit to £16.9m for the first half of this year, up from £2.4m for the same period in 2022.
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Birchwood Real Estate Capital re-unites L&G trio by appointing Thelwall
Real estate lender Birchwood Real Estate Capital has appointed Libby Thelwall, former director at Legal & General (L&G), to its debt origination team.
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M Core acquires multi-retail centre portfolio for £35m
M Core has completed the acquisition of a multi-retail centre portfolio, comprising eight retail parks and convenience stores, for £35m as part of its expansion drive.
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Taylor Wimpey boosts profit expectations in upbeat H2 update
Taylor Wimpey has increased its expectations for group operating profit to the top end of its £440m to £470m guidance range at, due to its focus on “optimising price and sharp cost discipline”.
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Industry could be on the ‘cusp’ of a serious downturn in demand
There is a sense the industry could be “on the cusp of a serious downturn in demand across the markets”, Gareth Lewis, PwC director, said during a webinar yesterday to launch the firm’s joint report with the Urban Land Institute (ULI) titled ’Emerging Trends in Real Estate Europe’.
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Real estate is ‘dead in the water’ if it can’t adjust adjust to higher-rate environment
A report from PwC and the Urban Land Institute (ULI) published today (8 November) has revealed the industry fears interest rates, inflation and low European economic growth will be key concerns for the next five years, leading investment experts to question the medium-term outlook for property.
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Persimmon appoints former Galliford Try finance director Duxbury as CFO
Persimmon has appointed Andrew Duxbury, former group finance director at Galliford Try, as chief financial officer (CFO). He will join the board as an executive director, with the start date yet to be confirmed.
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UK Commercial Property REIT and Picton in merger talks
UK Commercial Property REIT (UKCM) is in discussions with Picton Property Income regarding a possible all-share merger, which would create a company with net assets of around £1.6bn and a portfolio worth around £2bn.
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Brent Cross Town developers secure £97m green loan
Related Argent and joint venture partner Invesco Real Estate have secured £97m in debt financing from LaSalle Investment for the development of Brent Cross Town’s second build-to-rent (BTR) building.
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IWG reports revenue rise for Q3
IWG, a global provider of hybrid workspace, has reported system revenue of £830m for Q3, representing growth of 8% year on year, according to its quarterly update.
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Foxtons acquires lettings agent Ludlow Thompson
Foxtons Group has acquired Ludlow Thompson, a lettings-focused estate agent operating across seven branches in London, for £10m on a cash and debt-free basis.
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Sirius Real Estate acquires £33.5m portfolio of three north London assets
Sirius Real Estate, through its BizSpace subsidiary, has acquired a £33.5m portfolio of three assets in north London from a closed-ended fund.
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Persimmon grows full-year volumes but staff headcount could fall by 700
Housebuilder Persimmon has said today (7 November) it is now on track to deliver around 9,500 new homes for 2023, ahead of its 9,000 total completions forecast over the summer and operating profit will be in line with expectations.
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Housebuilding lull weighs on construction activity
Housebuilding decreased for the 11th successive month in October and at a much steeper pace than elsewhere in the construction sector, with the headline S&P Global/CIPS UK Construction Purchasing Managers’ Index (PMI) at 38.5.
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Centrick bucks gender pay gap trends as private sector reporting progress remains ‘stagnant’
Residential property investment expert Centrick has bucked the national trend with a gender pay gap of 0.7%, compared with the UK’s median of 9.4%, according to its latest gender pay gap report.
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Generator Group completes €750m global refinancing
Upmarket hostel operator Generator Group, owned by Queensgate Investments, has completed a circa €750m (£650m) global refinancing with Ares Management, Värde Partners and Waterfall Asset Management.
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Home REIT sells 14 properties for half the price it paid for them
Home REIT has sold 14 properties for £9m in a public auction at a value representing an average of 51% of their purchase price, with further property disposals expected at two auctions this week.
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Investec provides £12m loan to fund Stelling Properties’ PBSA development
Investec Real Estate has provided modular development specialist Stelling Properties Group with an £11.85m loan to finance a purpose-built student accommodation (PBSA) scheme in Southampton.
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Paragon expands development finance proposition into BTR market
Paragon Development Finance has extended its range of funding options to provide finance of up to £35m to support the acquisition and development of institutional-grade build-to-rent (BTR) schemes.
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ASK Partners appoints Gila Cruise as its first CFO
ASK Partners has appointed Gila Cruise as chief financial officer (CFO) where she will work on the financial operations and strategy of its specialist real estate lending business.