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All Propcos articles – Page 4
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NewsHSBC downgrades 11 property companies amid refinancing risk
UK real estate performance remains firmly wedded to policy rates and looming refinancing risk is a “major concern”, HSBC said as it downgraded its recommendations for shares in 11 property companies.
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OnlineSpringfield appoints new finance chief
Scottish housebuilder Springfield Properties has appointed Iain Logan as chief financial officer (CFO).
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OnlineWinkworth warns on full-year revenue and profit
Estate agent group M Winkworth has told investors that a “more challenging” market will lead to revenue and profit falls in its current financial year due to rising interest rates and low mortgage availability.
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OnlineCooper steps down as Crest Nicholson FD
Duncan Cooper has resigned as finance director of housebuilding giant Crest Nicholson to become chief financial officer at builders’ merchant Travis Perkins.
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OnlineSupermarket Income REIT receives second tranche of cash from Sainsbury’s portfolio sale
Supermarket Income REIT has received the second tranche of cash from the sale of its interest in the Sainsbury’s Reversion Portfolio (SRP).
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OnlineBritish Land updates investors ahead of AGM
British Land’s Simon Carter has told investors the group continues “to see strong operational momentum” ahead of his presentation at the annual general meeting today.
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NewsReuben brothers honoured at 31st PROPS Awards
Simon and David Reuben picked up the Lifetime Achievement Award at the 31st PROPS Awards in London last week.
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OnlineWatkin Jones completes Colchester student scheme
Watkin Jones has completed on a 286-bed student development in Colchester, Essex on behalf of Moorfield Group and Melberry Developments.
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OnlineBig Yellow posts rise in revenue for first quarter
Storage giant Big Yellow Group has announced a 6.7% rise in revenue during the first quarter of its financial year to the end of June, to £48.1m, up from £45.1m at the same point in 2022.
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OnlineUnite reveals 98% occupancy rate for 2023/24 in positive trading update
Student accommodation giant Unite has reached 98% occupancy for the 2023/24 academic year, compare with 91% at the same point 12 months ago, as demand continues to grow in the sector.
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OnlineGPE completes office leasing at east London's The Hickman with TPXimpact deal
Great Portland Estates (GPE) has let all the remaining office space at The Hickman on Whitechapel Road in east London to digital transformation company TPXimpact.
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OnlineOnTheMarket revenue rises but group warns of ‘uncertain’ conditions
OnTheMarket has posted a 14% rise in revenue and a return to profit for the year to the end of January.
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OnlinePRS REIT completes refinancing
PRS REIT has completed the refinancing of its £150m revolving credit facility (RCF) with The Royal Bank of Scotland and Lloyds.
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OnlineGleeson expects full-year figures to meet forecasts
MJ Gleeson has told investors it expects full-year figures to be in line with forecasts as a shift in buyer demographics “underpins encouraging prospects” for the current year.
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OnlineOne Heritage appoints Willis as investment director
North of England residential firm One Heritage Group has appointed Geoff Willis to the newly created role of investment director.
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OnlineHammerson to transform car parks with daredevil circuses over summer
Hammerson is set to roll out pop-up circus and a range of entertainment across its retail centre car park space in what will be a first in the property sector.
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OnlinePPHE Hotels raises full-year forecasts after strong first half performance
PPHE Hotel Group has told investors it has maintained its “positive trading momentum” ahead of the end of its financial half-year on Friday.
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OnlineCineworld falls into administration in UK, but screens will remain open
Struggling cinema chain Cineworld has filed for administration in the UK as part of a restructuring plan that will see shares in the world’s second-largest cinema chain being suspended.
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OnlineUrban Logistics’ net tangible assets fall 14%
Urban Logistics REIT’s net tangible assets (NTA) fell 14% in the year to the end of March, as outward yield movements impacted the property sector.
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OnlineBerkeley boss claims planning regime is ‘constraining investment’
Rob Perrins, chief executive of upmarket housebuilding group Berkeley, has slammed red tape in the planning system that he claims is holding back the development of homes.
