All Propcos articles – Page 15
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British Land posts £1bn annual loss as valuations slump 12%
British Land has posted a swing of almost £2bn from profit to loss as macroeconomic factors hit property values.
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SEGRO commits £2bn to net zero warehouse development in West Midlands
Industrial giant SEGRO has committed £2bn to a decade-long net zero warehouse development programme after becoming a strategic partner of the West Midlands Combined Authority (WMCA).
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Unite appoints Love Island TV executive to board
Student accommodation giant Unite has appointed ITV executive Angela Jain as a non-executive director.
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Workspace sells £82m of non-core assets
Workspace Group has sold five non-core properties in the South East to Tudor Investment Holdings at a sharp discount to their book value.
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Landsec swings to loss as portfolio value is cut by 7.7%
Landsec has posted a £1.5bn swing to an annual loss of more than £600m as property values dropped 7.7% during the year to the end of March.
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Stifel analyst claims ‘only a matter of time’ before Hammerson sells Value Retail stake
Sam King, a leading propety analyst at investment bank Stifel, believes ”it is only a matter of time” before retail giant Hammerson sells its stake in the Value Retail portfolio.
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GPE launches new sustainability brief
Great Portland Estates has launched a new sustainability programme to cover its entire portfolio.
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Economic conditions stalls investment activity at Tritax Big Box REIT
Tritax Big Box REIT has told investors that economic and capital market uncertainty contributed to investment transactional activity remaining low during the first three months of the year.
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Grainger produces bumper figures as rental boom continues
Grainger, the UK’s biggest private landlord, has posted a bumper set of half-year figures as the rental market continues its post-pandemic boom.
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Get Living more than doubles annual profit
Build-to-rent (BTR) giant Get Living more than doubled its profit to £136.3m off the back of a 40% rise in revenue in 2022, as it entered its 10th year.
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Custodian boss welcomes return of optimism to market
Custodian Property Income REIT chief executive Richard Shepherd-Cross has welcomed the return of optimism to the commercial property market as the aftershocks of Liz Truss’ September mini-Budget begin to fade.
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NAV and values edge up at UKCM
Net asset value (NAV) at UK Commercial Property REIT (UKCM) edged up 1.1% during the first quarter of 2023 as valuations also improved.
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Harworth agrees £35.8m of sales as it pursues grade-A strategy
Harworth Group has sold Towngate Business Park in Widnes and Four Oaks Business Park near Preston for £35.8m.
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Forrester to step down as CEO of Cushman & Wakefield
Property agency veteran John Forrester has revealed plans to retire as chief executive of Cushman & Wakefield at the end of June after 35 years with the company.
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Custodian lines up MacLellan as chairman
Custodian Property Income REIT has appointed David MacLellan as an independent non-executive director to replace David Hunter as chairman when he steps down in August.
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Derwent enjoys strong first quarter
Derwent London agreed £17.1m of lettings during the first quarter of 2023, striking the deals at an average of 6.6% above December’s estimated rental values.
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GPE snaps up two London offices for £53m
Great Portland Estates (GPE) has paid £53m for two central London freehold buildings to add to its flex office portfolio.
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NTA edges up at Target Healthcare
Care home group Target Healthcare’s net tangible assets (NTA) nudged up in the first quarter of 2023 to 103.4p per share, up from 103p at the end of December, as the group continued with disposals and re-leasing properties.
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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.
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Taylor Wimpey sales rate rises but remains below 2022 level
Housing giant Taylor Wimpey has told investors that its sales rate has increased as the spring selling season kicks in, but warned of the challenges facing first time buyers.