Latest Finance News
Canary Wharf Group expands debt maturities as it secures £553m from lenders
The financing significantly increases CWG’s debt maturities and will support its drive to add more non-office space to the estate.
Home completions at Persimmon fall 10%
Housebuilder posted drop in new home completions during the first three months of it financial year, but reported an improvement in sales rates and “firm pricing”.
NewRiver achieves record 98% occupancy during fourth quarter
The group completed 785,100 sq ft of lettings in the year to the end of March at an average 3.6% above estimated rental value.
FT columnist Stevenson joins Workspace board
New non-exec director is an investment columnist and founder of news and analysis service ETF Stream.
Warehouse REIT adds £1.4m to rent roll in fourth quarter
The company secured 22 deals in it fourth quarter at rents an average 28.6% above previous levels.
I-RES says outlook is ‘positive’ as strategic review advances
Review by Ireland’s largest landlord seeks ways to unlock value from the porfolio, including increasing revenue from car parking.
PPHE Hotel Group reports 11.9% leap in Q1 revenue spurred by higher demand
The firm’s Q1 trading updated also reported that its £300m development pipeline is nearing completion.
Lipton Rogers partners with Galileo to amass £1.5bn life sciences portfolio
The JV’s initial plan is to create 1,500 sq ft to 3,000 sq ft plug-and-play laboratories with flexible leasing options.
Ground Rents Income Fund slams government leaseholder reforms over 25% valuation fall
The fund told shareholders that the potential outcome of government legislative change “remains uncertain”.
Vita secures £90m construction loan to develop Manchester PBSA scheme
The funding, which has been provided by Cain International, will be used to develop more than 570 student beds.
Fitch predicts Canary Wharf vacancy rises despite Morgan Stanley deal
Morgan Stanley’s lease extension with Canary Wharf Group has “alleviated some downside risk” for the landlord, rating agency said.
Anti-greenwashing rules could lead to ‘greenhushing’, claims lawyer
Claim followed introduction of tougher anti-greenwashing investment rules by the Financial Conduct Authority (FCA) this week.
HarperCrewe secures £200m-plus residential investment
TPG Angelo Gordon and Ridgeback provided the funding as part of plans to expand into the UK housebuilding sector.
Great Places secures £280m-plus deals with three lenders
New banking partner supplies debt alongside housing group’s existing lenders Santander and NatWest.
Watkin Jones appoints new CFO and updates on first half
Simon Jones has been appointed to succeed Sergeant as CFO designate and will join the board on 21 May.
Taylor Wimpey order book falls year on year as home sales dip
Analysts described update as encouraging due to resilient sales in recent weeks.
Valor completes £25m double acquisition of London last-mile logistics assets
The deals extend Valor’s UK portfolio to 54 assets across 5.2m sq ft.
Thriving Investments secures £20m financing from Scottish National Investment Bank
The commitment takes the Scottish bank’s total investment in the fund to £60m.
LGIM expands Unite relationship with £150m funding
The loan will be used to refinance an existing bank facility for the student accommodation giant’s Unite UK Student Accommodation Fund.
Goldman Sachs hires de Wit to lead real estate investment team in London
The bank’s new recruit will be in charge of the strategic direction and growth of its European Core-plus fund.
CBRE strengthens lending team with OakNorth’s Kare
Kare will be responsible for executing and managing new development loans for CBRE.
Supermarket Income REIT secures increase to lending deal
The firm has increased its unsecured finance facility with Sumitomo Mitsui Banking Corporation.
Gender pay gap: property firms are ‘impatient for change’
Real estate’s gender pay gap has narrowed 5% since 2017 – but companies are trying to accelerate change through diversity and inclusion initiatives.
Housebuilders see silver lining after cloudy conditions in 2023
Many housebuilders report profit falls for 2023, but they are seeing signs of recovery.
New Reserved Investor Fund set to boost UK fund offering
The government has announced it will begin legislating for the RIF in the Spring Finance Bill 2024.
Why 2024 could be a ‘vintage’ year for real estate investment
DWS UK chief executive and incoming BPF president Jessica Hardman tells Property Week about European investment trends and working through two market downturns.
Consolidation: a key trend for REITs in 2024
Property Week reports on the growing trend towards mergers and acquisitions as REITs bid to increase their scale in the fight for capital access.
Stock Market
FTSE 100 closes at record high with property stocks rising
FTSE 100 property companies enjoyed a boost with SEGRO’s share price rising 1.07%.
Property Funds
L&G UK property fund shareholders approve hybrid fund investment strategy
The structure allows for daily dealing in property, including direct exposure to UK assets and indirect investment in REITs.
PW Share Index
Review the latest share prices of the FTSE-listed property investment companies using data provided by the European Public Real Estate Association.
