All Propcos articles – Page 9
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OnlineBritish Land goes on retail park buying spree
British Land has completed on the acquisition of three retail parks for a total of £94m and sold its 50% stake in a retail park in Preston for £30m.
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OnlineSupermarket Income REIT completes £87m refinancing
Supermarket Income REIT has refinanced its existing loan facilities with Bayerische Landesbank (BLB) with a £86.9m three-year loan.
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OnlineHammerson CEO Gangé on how retail property group ‘has turned a corner’
It’s been a busy 865 days for Rita-Rose Gagné.
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OnlineSupermarket Income REIT completes Sainsbury sale
Supermarket Income REIT completed the £430.9m sale of its interest in the Sainsbury’s Reversion Portfolio on Friday (17 March).
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OnlineSavills reveals profit fall and warns of ‘challenging’ 2023
Savills has posted a fall in profit to £153.9m, from £183.1m in 2021, for the year ending 31 December 2022, despite a rise in revenue.
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OnlinePurplebricks reveals takeover interest from Strike, but says pair not currently in talks
Purplebricks has told investors that it has held takeover talks with rival online estate agency group agency Strike, but that the firm is not currently involved in the “formal sale process”.
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OnlineSupermarket Income REIT sells Sainsbury portfolio for £430.9m
Supermarket Income REIT has agreed the £430.9m sale of its interest in the Sainsbury’s Reversion Portfolio to the supermarket giant.
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OnlineNAV nudges up at Harworth despite profit and valuation falls
Land regeneration specialist Harworth Group has posted a rise in net asset value (NAV) for the year to the end of December, despite a sharp fall in investor returns and profit.
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OnlineHammerson CEO says group has ‘turned a corner’ as earnings leap 60%
Hammerson chief executive Rita-Rose Gagné has told Property Week the company has “turned a corner” after it posted a 60% rise in underlying earnings for the year to the end of December, which stood at £105m, ahead of guidance of “not less than £100m”.
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OnlineLandsec launches £400m green bond
Landsec has launched a £400m green bond via Land Securities Capital Markets, the group’s first such fundraising.
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OnlineGalliford Try posts strong half-year figures
Construction group Galliford Try has posted a 65% rise in profit for the first the six months of its financial year.
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OnlineFoxtons’ lettings division supports annual revenue and profit growth
London estate agency Foxtons has told investors that the impact of the mini-Budget last September is still being felt, with its sales pipeline reduced by the economic turmoil that resulted from it.
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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.
