All Propcos articles – Page 20
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OnlineIWG posts record revenue as losses narrow in 2022
Serviced office giant IWG has told its investors that it is “cautiously optimistic” for 2023, after significantly reducing its pre-tax losses in 2022.
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OnlineAxel Springer quits Purplebricks’ board
PurpleBricks’ largest shareholder, Axel Springer, has withdrawn its director from the struggling online estate agent’s board while the business pursues a sale.
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OnlineLewisham Affordable BTR scheme forward sold to CBRE fund
Watkin Jones has forward sold of an affordable scheme in Lewisham to CBRE UK Affordable Housing Fund (AHF).
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OnlineLondonMetric sells seven assets for £33.9m
LondonMetric has sold seven long income assets for £33.9m, reflecting a return of 10%.
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OnlineCapco and Shaftesbury complete £3.5bn merger, become Shaftesbury Capital
Capital and Counties and Shaftesbury have completed their £3.5bn all-share merger to formed a new company that will dominate the Soho and Covent Garden area of central London.
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OnlineAlternative Income REIT’s NAV falls 12.5%
Alternative Income REIT’s net asset value (NAV) fell 12.5% in the first six months of its financial year, but the firm has assured investors that dividend payments will not be affected.
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OnlineLXi agrees £150m of new lending
LXi REIT has agreed a £150m loan and an extension to its existing £60m HSBC facility as part of its refinancing strategy.
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OnlinePortfolio value slumps 13.3% at Supermarket Income REIT
The value of Supermarket Income REIT’s portfolio slumped 13.3% in the second half of 2022 as the group suffered from industry-wide outward yield movements.
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OnlineNAV and property values fall at abrdn’s European logistics fund
The value of abrdn European Logistics Income REIT’s portfolio fell 6% in the three months to the end of December as a result of outward yield movements.
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OnlineNAV and profit falls at PHP
Net asset value (NAV) at Primary Health Properties (PHP) fell 3.5% in the 12 months to the end of December as yields moved out during the year.
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OnlineSpringfield profit dips despite sharp rise in revenue
Profit at Springfield Properties dipped 5% in the first half of its financial year, despite a sharp rise in revenue.
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OnlineLSL chairman steps down
Bill Shannon is set to step down as non-executive chairman of LSL Property Services at the estate agent group’s next AGM in May.
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OnlineCapReg makes non-exec board appointment
Capital & Regional has appointed Panico Theocharides to the group’s board as a non-executive director.
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OnlinePurplebricks considers sale after issuing profit warning
Purplebricks is considering selling the beleaguered online estate agent to ‘better realise the potential of the group.’
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OnlineRedevco and SFP enter UK BTR sector
Redevco and SFP Group have formed a joint venture agreement to invest in the UK Build to Rent (BTR) real estate market over the next two years.
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OnlineCivitas agrees £71m lending deal
Civitas Social Housing has secured a new five-year term debt facility of £70.875m with a European bank.
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OnlineHome REIT receives offer to buy group as it reveals ‘serious deterioration’ in rent collections
Troubled social housing group Home REIT has told investors that it may put the company up for sale following a report into its portfolio showed a “serious deterioration in rent collections”.
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OnlineRegional REIT tenants return to their offices
Regional REIT has told investors that almost all its tenants have returned to their offices over the last year following the recovery from the Covid-19 pandemic.
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OnlineBellway and Redrow echo housebuilder concerns over demand
Another two housebuilding giants reported on the impact of the economic downturn on Thursday, as both Bellway and Redrow on flagged persistent market challenges despite a slight pickup in activity in recent weeks.
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OnlineNAV and portfolio value falls at Custodian
Net asset value (NAV) at Custodian Property Income REIT fell 12.2% during the final three months of 2022, as it was impacted by industry wide outward yield movements.
