Property company news
Shaftesbury plc - Interim statement - 12/08/10
Local Shopping REIT plc - Interim statement - 10/08/10
Captial Shopping Centres Group plc - Half year report - 05/08/10
Metric Property Investments plc - Interim statement - 05/08/10
The British Land Company plc - First quartner results - 04/08/10
Hammerson plc - Half year results - 02/08/10
Great Portland Estates plc - Interim statement - 22/07/10
UK REITs
Big Yellow Group plc
Latest regulatory
announcements
Conversion date: 15 January 2007
Final results
"The Group is currently enjoying a recovery which we believe will show an improving trend. This is unlikely to be linear and no doubt we will have setbacks, and whilst we remain wary, on balance there are more grounds for optimism.
Since the spring of last year, we have seen an improving level of demand, and over the summer delivered significantly more occupancy growth than in the prior year. The first half growth across the wholly owned portfolio was 62,000 sq ft against a decline of 10,000 sq ft last year. In the second half of the year, our traditionally weaker trading period, occupancy grew by 4,000 sq ft, compared to a decline of 75,000 sq ft in the prior year. If we include the stores in Big Yellow Limited Partnership, total growth in occupancy over the year was 140,000 sq ft..."
Source: Nicholas V,
Final results, 17 May 2010
The British Land Company plc
Press releases
Latest regulatory announcements
Conversion date: 1 January 2007
"We have performed well in what has been an important quarter for British Land. Reaching agreement with UBS to develop and occupy a new 700,000 sq ft building is a major step in our investment programme to ensure Broadgate remains the City's premier office location. In addition, we continued to successfully let recently developed office space with around 800,000 sq ft of prime London office lettings in the last 6 months and rental levels significantly higher now than a year ago.
As suggested at the time of our full year results, valuations have risen more slowly in this quarter, reflecting in part a more uncertain economic outlook. While we remain cautious about the near-term outlook, our prime real estate, underpinned by good tenant credit quality and high occupancy, is expected to perform well and we remain confident about the long-term prospects for the business."
Source: Chris Grigg, Chief Executive, First quarter results, 4 August 2010
———
Captial Shopping Centres Group plc
Investor news
Latest regulatory announcements
Conversion date: 1 January 2007
Interim report for the half year ended 30 June 2010
"Our unwavering focus on quality, with 13 prime centres all in the UK's top 50 and a number
of those among the UK's very best, has been an important factor in CSC's strong performance in the
first half of 2010, as we present the first set of results since the demerger of the non-shopping
centre activities which completed in May 2010. The results show a 7.7 per cent uplift in
property valuations, increasing net asset value per share to 368 pence, and a 28 per cent increase
in underlying CSC earnings before valuation items. We are now looking to drive growth in net
rental income from lettings, lease expiries and rent reviews, with a particular opportunity from
converting last year's short-term lets into longer-term lets at higher rents. With around
£125 million of value enhancing active management projects under consideration and around £500
million of potential investment by way of major extensions, the Group has significant scope to grow
organically without depending on acquisitions."
Source: Patrick Burgess, chairman of Capital Shopping Centres Group,
half year report, 5 August 2010
———
Derwent London plc
News
Press
releases
Conversion date: 1 July 2007
Interim Management Statement for the three months ended 31 March 2010
“Despite economic conditions remaining difficult, our central London operating market has performed well. In addition to our current projects, we are progressing our plans for a number of refurbishment and regeneration schemes for commencement in 2011 and 2012. The reversionary characteristics of our portfolio, and the opportunities within, together with our strong balance sheet, will continue to provide the platform for rental and capital value growth.
Source: John Burns, Chief Executive, Interim Management Statement, 17 May 2010
———
Glenstone Property Group
Conversion date: 1 February 2009
Preliminary results for the year ended 31 January 2010
"Glenstone Property Plc elected for Company Real Estate Investment Trust ("REIT") status with effect 1 February 2009. As a result, the company will no longer pay UK Corporation Tax on the profits and gains from qualifying rental business in the UK provided it meets certain conditions. Non-qualifying profits of the Group continue to be subject to corporation tax as normal. On entering the REIT regime an entry carry charge equal to 2% of the aggregate market value of the properties associated with the qualifying rental business is payable..."
Source: Preliminary results for the year ended 31 January 2010, 23 April 2010
Great Portland Estates plc
Corporate news
Latest regulatory
announcements
Conversion date: 1 January 2007
Interim management statement
"London's property investment markets continued to recover during the quarter although at a lesser pace than the unsustainably high rates of the previous two quarters. We expect this less urgent mood to persist for the balance of the year with investors looking to rental growth to support further price increases.
In our own portfolio, we have been encouraged by the demand levels from prospective tenants
which has helped support rental growth across the portfolio. Whilst we expect sentiment to
remain relatively volatile in the near term, looking two or three years ahead, we maintain our
confidence in London as a global financial centre. With a prospective supply/demand balance
that favours the landlord, we can expect rents to rise over this timescale..."
Source: Toby Courtauld, Chief Executive, Interim management statement, 22 July 2010
Hammerson plc
Press
releases
Latest regulatory
announcements
Conversion date: 1 January 2007
Half yearly results
"Although our markets have continued to recover from recession over the first half of 2010, the outlook remains uncertain. Against this background we are maintaining a clear focus on improving our portfolio, maximising the income from each of our assets and sound financial management.
We have made good progress this year in each of these areas. The underlying quality of our portfolio has been demonstrated in our results, with lower vacancy and growing income in a challenging environment. Over the period we have executed a number of transactions which will improve the future growth prospects of our business whilst releasing capital for potential reinvestment. We have advanced our valuable development pipeline in the UK and France which will provide a basis for additional future growth."
John Nelson, chairman, Half year results, 2 August 2010
———
Hansteen
Press
releases
Latest regulatory announcements
Conversion date: 6 October 2009
Interim management statement
"The period since 31 December 2009 has been very busy with two major acquisitions which have underlined the future growth of the Group by using Hansteen's financial strength to take advantage of the market's weakness. Hansteen has acquired two property portfolios during the period, a German industrial property portfolio for €330 million and, in the UK, the Kilmartin property portfolio for £80.4 million. Each offers the opportunity to add significant value and improves our position in the market, and both demonstrate the value of our close relationship with UK and Continental banks."
Source: Interim Management Statement, 17 May 2010
Highcroft Investments
News and information
Conversion date: 1 April 2008
Summary
"The net asset value per share rose by 8.8% to 666p (2008 612p). Total shareholders' funds were £34,435,000 (2008 £31,604,000).
Although there was a decrease in profit for the year on revenue activities, we had our REIT status for a whole year and this us enables us to pay a total property income distribution of 26.0p per share, of which 10p was paid in October 2009 and 16p will be paid on 2 June 2010. The basic earnings per share, which take account of capital activities, was 76.2p (in 2008 there was a 179.3p loss) and the adjusted earnings per share, adjusted to take out the effect of capital activities, down 13.4% to 32.3p per share.".
Source: Final results, 9 March 2010
Land Securities Group plc
Press
releases
Latest regulatory
announcements
Conversion date: 1 January 2007
Annual results for year ended 31 March 2010
"As the commercial property market moved from downturn to recovery in the middle of the year, our actions focused on ensuring that we positioned the business to exploit the opportunities we see ahead. We end the year with clarity on our plans - plans which will build on the strong foundations we have created.
We have delivered a year of good growth in shareholders' net assets and we believe we have the potential to deliver attractive relative returns in the future. Our confidence is built upon the opportunities in our existing portfolio for delivering developments into a supply constrained market in London allied to our focus on growing income and revenue profit in the medium term.
The year saw a dramatic turnaround in the UK commercial property market, with falling values in the first six months giving way to a rapid recovery in the second half. Investors returned in numbers and this led to sharp increases in property values, with the valuation of our investment properties increasing by 10.3% over the full year and the value of our shareholders' adjusted diluted net assets increasing by 16.5%..."
Source: Francis Salway, Chief Executive,
Annual
results, 19 May 2010
———
Local Shopping REIT plc
Press releases
Latest regulatory
announcements
Conversion date: 11 May 2007
Interim management statement
Nick Gregory, LSR's Joint Chief Executive Officer, said: "We continue to maintain our focus
on actively working the existing portfolio to maximise income, despite the challenge of uncertain
economic conditions, which persist in presenting a challenging retail environment for
retailers. Against this backdrop, we are pleased to report strong progress in lettings
and lease reviews and renewals during the period...
Mike Riley, LSR's Joint Chief Executive Officer, added: "Our nationwide coverage, extensive network of local agents and specialist "hands-on" asset management skills provide us with a unique capability to manage smaller properties throughout the UK."
Source: Interim management statement, 10 August 2010
———
McKay Securities plc
Press releases
(go to News/General Press Releases)
Latest regulatory
announcements
(go to News/Stock Exchange Announcements)
Conversion date: 1 April 2008
"“ We are the only REIT focused on the office and industrial markets in the South East. Despite the challenging market, we have maintained the quality of our portfolio and our strong financial platform. We have no near term re-financing risk and an LTV of 43%. This gives us a solid foundation from which we can add to the portfolio as the market improves. We have maintained our strategy of managing every property in our portfolio proactively. We are delighted to report a high level of tenant retentions and interest from new tenants."
Source: Simon Perkins, Managing Director, Full year results, 3 June 2010
———
Metric Property Investments plc
Press
releases
Latest regulartory
announcements
Launch date: 24 March 2010
"Our purchase of Launceston Retail Park, announced this morning, complements our existing investment in Newry and satisfies the key investment criteria we set out at the time of the IPO. Both properties offer significant opportunities for our active programme of asset management initiatives to grow rental income, which we aim to deliver over the short to medium-term.
"Our extensive experience in the retail property market, together with our substantial financial firepower, leaves us well placed to continue to exploit the increasing amount of investment opportunities becoming available. We continue to assess a significant pipeline of potential acquisitions but will only make investments where our key returns criteria are met and we are confident that the investment will perform in a softening market."
Source: Andrew Jones, Chief Executive, Interim management statement, 5 August 2010
-----------
Mucklow (A & J) Group plc
Company news
Latest regulatory announcements
Conversion date: 1 July 2007
Interim management statement
"The Group has continued to make steady progress during Q3 and having now collected the final quarters' rent for the period up to 23 June 2010, remains on target for another satisfactory year.
Retaining existing tenants and attracting new ones is still a challenge, but occupancy levels have been maintained at around 92% and in the last month, we have noticed an improvement in the number of serious enquiries for existing and pre-let business space..."
Source: Rupert Mucklow, Chairman, Interim management statement, 12 May 2010
———
Pineapple Corporation plc
Press
release
Company prospectus
Conversion date: 23 June 2008
Pineapple Corporation plc, a UK property investment company listed on the Luxembourg Stock Exchange and whose shares are traded on the Euro MTF, is the latest company to elect to become a Real Estate Investment Trust, or REIT.
With a current market capitalisation of £18.2M it is probably the smallest company to become a REIT to date.
The company has a diverse portfolio of commercial and residential investment properties in the UK, predominantly located in London and some commercial property investments in Finland.
Source:
Company
press release
———
Primary Health Properties plc
Company
press releases
Latest regulatory announcements
Conversion date: 1 January 2007
Interim
management statement
"The demand for modern primary care facilities remains high. The market is underpinned by the Government's multi-billion pound commitment over the medium term to renewing primary care stock and ensuring that primary care is delivered from modern purpose built accommodation that is fit for purpose.
While overall Government spending is likely to be curtailed in the short term, the Company's
belief is that this will focus more resources on providing primary care solutions as it offers the
most cost effective medium for delivering healthcare."
Source:
Interim
management statement, 27 April 2010
———
SEGRO
Press releases
Latest regulatory announcements
Conversion date: 1 January 2007
Interim management statement
" "Whilst conditions in occupational markets remain challenging, we have made good progress on a number of fronts in the early part of 2010 . Our priorities continue to be to stay close to our customers, to fill empty space, to manage our finances and other risks prudently, and to recycle our capital into suitable reinvestment opportunities, particularly pre-let development."."
Source: Ian Coull, Chief Executive,
Interim management statement, 27 April 2009
———
Shaftesbury plc
Latest
regulatory announcements
Conversion date: 1 April 2007
Interim management statement
"Although much uncertainty persists regarding the future direction of both the domestic and international economies, London's West End continues to flourish, thanks to its unrivalled attractions which bring growing numbers of visitors. As a result we continue to experience good demand, particularly for our larger shops, well located restaurants and residential accommodation.
We continue to expand our portfolio, both through acquisition and implementation of new schemes. Despite the challenges evident in the wider economy, we are confident that the underlying strengths of the locations in which we invest and our management strategy will continue to deliver sustained out-performance in income and capital values."
Source:
Interim management statement, 12 August, 2010
———
Town Centre Securities plc
Latest news
(go to News section)
Conversion date: 1 October 2007
Interim management
statement
“Since our half year results we have successfully focussed on increasing income from our
existing portfolio in a gently improving market. We are pursuing retail and car park investment
opportunities to grow our business and take advantage of our sound financial position.”
Source: Edward Ziff, Chairman and Chief Executive, Interim management statement, 14 May 2010
_________
Warner Estate Holdings plc
Financial press releases
Property news
Regulatory
news
Conversion date: 1 April 2007
Final results
"This year has been dominated by refinancing discussions with the Group's three lenders to
extend, amend or renew its banking facilities. These were concluded successfully towards the end of
March 2010 and the resulting facilities provide the Group with a stable platform upon which to
rebuild value in our property investments, funds and joint ventures and to expand our asset
management business.
It was also a year of two distinct halves. Property values have been improving since July
2009 but not enough to reverse in full the decline in the Group's property values earlier in that
year. Although net asset value has fallen over the year from 8p per share at 31 March 2009 to
negative 7p, this masks the considerable improvement from the negative 43p reported at the half
year. The market has risen further since our year end, which, together with 6p per share from the
sale in May of our Radial Distribution joint venture, referred to below, brings the prospect of a
return to positive value that much closer. "
Source: Chairman's report,
Final
Results, 18 June 2010
———
Workspace Group plc
Latest
regulatory announcements
Conversion date: 1 January 2007
Final results
" Occupancy is continuing to improve and enquires are at a good level. Our brand is recognised and well understood by London's entrepreneurs. Cash rent roll has also begun to recover as pricing has stabilised and we have seen some recovery in property values, although they are still some 36% below their peak.
In December 2009 we re-purchased our former Workspace Glebe joint venture portfolio. This has already been an excellent acquisition that has immediately enhanced both EPS and NAV per share and has significant long term potential.
Our disposals in the year include £15m of realised cash from our added value programme. We continue to make progress on creating and realising further additional value, reflecting the underlying regeneration potential across the portfolio.
The Company is performing well with a resilient and vibrant customer base and we look to the future with confidence".
Source: Harry Platt, Chief Executive,
Final Results, 7 June 2010
———
back to top
UK quoted property companies
Capital & Regional plc
Press releases
Latest regulatory announcements
———
Cardiff Property
Press releases———
CLS Holdings plc
Press releases
Latest regulatory announcements
Interim management statement
Outlook - the Company is continuing to focus on its core property operations.
"Our focus on active management of the portfolio, combined with the high proportion of
government and high-quality corporate tenants has meant that performance for the first quarter has
been robust, in markets that remain challenging. We are now beginning to see the benefit of falling
interest rates on the finance charge and the consequent improvement in underlying profitability."
Source: Sten Mortstedt, Executive Chairman's statement, Interim management statement, 15 May
2009
———
Daejan Holdings
———
Development Securities
Latest news
(go to Investment properties/Overview & Charts)
---------
DTZ Holdings
---------
Fletcher King
News———
Grainger plc
Latest news
Latest
regulatory announcements
Interim results for the six months ended 31 March 2010
“Prospects for the Group are good. We have a resilient high quality portfolio of residential assets supported by an experienced team with a broad base of knowledge across the residential sector. Recently announced Board appointments and our financial restructuring will serve to strengthen this position further.
“Although we anticipate that general economic conditions will continue to be challenging for some time, our resilient, cash generative portfolio will stand us in good stead. Our immediate focus is to take advantage of buying opportunities in our core reversionary portfolios and to leverage our residential skills and experience to explore value accretive and well-priced opportunities on behalf of our shareholders, investors and partners.
Source: Robin Broadhurst, Chairman, Interim results, 20 May 2010
""With the benefit of our large, diversified portfolio, range of activities and ability to
generate cash through rents sales and management fees, we have continued to perform against our
short to medium term objective by managing the business in a prudent way through this current
adverse cycle. In particular, we are focused on cash conservation through maximising sales revenue,
curtailing property expenditure, reducing overheads and on ensuring that we remain covenant
compliant..."0
Source: Robin Broadhurst, chairman, Interim results, 20 May 2009
———
Helical Bar plc
Press
releases
Latest regulatory
announcements
———
Mapeley
Latest regulatory
announcements
(go to Investor Relations/Regulatory Announcements)
Press releases
(go to Press Room)
———
Marylebone Warwick Balfour Group
Press releasesLatest regulatory announcements
———
Minerva Property Holdings
Company newsLatest regulatory announcements
———
Panther Securities
———
Quintain Estates and Development plc
Latest news———
Safeland
News(Click on Enter Site, then on Investor Relations)
———
Safestore Holdings
Press
releases
Latest regulatory
announcements
———
St Modwen Properties
Press releases
Corporate releases
Commercial news
———
Savills
Latest newsLatest regulatory announcements
———
J Smart & Co (Contractors)
Latest news———
Stewart & White
News and information———
Terrace Hill Group
Press releasesLatest regulatory announcements
———
Unite Group plc
Latest regulatory announcements———
back to top
Property Income Companies
Advantage Property Income trust
Latest news
Half-yearly report and accounts for the period ended 30 June 2009
The Company has been operating in a very challenging economic climate since June 2007 with
capital values falling and occupiers under significant pressure. These factors have resulted in
significant capital value falls from the peak of the market. This has had the effect of increasing
the loan to value ratio of the Company's assets to the amount of outstanding debt.
In recent months, the quoted real estate market has seen reductions in the discounts to Net Asset Values (NAV) that have been prevalent and significant. For example, the discount between share price and NAV for TAP as at 24 December 2008 stood at 89%, whilst as at 19 August 2009 this had reduced to 47%.
The Company has continued its strategy and policy of repaying debt through sales of assets and maintaining income from our occupiers through early discussions on expiry and other lease events...
Source: Chairman's statement,
Half yearly report, 28 August 2009
———
Close High Income Properties
Regulatory news"It is not an exaggeration to say that 2008 was the most testing year for commercial property in decades. Commercial property, as an asset class, relies on functioning financial markets for investment and debt funding, and a healthy economy to stimulate occupier demand and rental growth. In many respects the combination of the global financial crisis and the worsening recession in the "real economy" was the worst possible combination for commercial property.
The absence of debt finance and the re-rating of risk across all sectors, following the onset of the global financial crisis in the summer of 2007, resulted in the expansion of yields on commercial property and a corresponding fall in capital values. According to the Investment Property Databank ("IPD") capital values have fallen by 37.6% from their peak in June 2007 to January 2009..."
Source: Jonathan Clague, Chairmain,
Preliminary results for year ended 31 December 2008, 3 April 2009
F&C Commercial Property Trust
news and company information———
ING UK Real Estate Income Trust
The beginning of 2009 saw a general worsening of the UK's economic position with the country officially entering recession in January. The effect of this has been seen through rising unemployment, the recording of some of the largest annual corporate losses in UK history and further capital injections having been made into the UK banking system. Set against this, we have seen a dramatic reduction in the base rate, now at the lowest level in the Bank of England's 315 year history, and a quantitative easing programme put in place in order to stimulate the financial markets into operating more effectively...
Source: Chairman's report, Half yearly report, 25 August 2009
Invesco Property Income Trust
latest news———
Invista Foundation Property Trust
latest newsregulatory announcements
———
IRP Property Investments Ltd
regulatory newsKey dates
———
ISIS Property Trust
regulatory newskey dates
———
Standard Life Investments Property Income Trust
See London Stock Exchange page for regulatory news feedregulatory news
———
UK Commercial Property Trust
See London Stock Exchange page for regulatory news feed
regulatory news
______
Whichford
Half yearly financial results to six months ended 31 March 2009
"In a difficult period the Group continues to make robust profits from its Trading Operations. The quality of the Group's income has been important, along with some savings on administrative expenses on Trading Operations, in contributing to this result.
However, in the six month period to March 2009 we have seen a continued decline in property valuations. Despite the security of Government rental income throughout the portfolio, the Company has not been immune to this trend and has also seen a dramatic fall in the fair value of our interest rate hedging given the impact of general interest rate decreases. These factors are clearly outside the control of the Company but the impact has been a significant decrease in the net asset value of the Company.
I am confident, though, that we are taking the right steps to position the Company to deal with its debt maturities and to take advantage of the recovery in the property markets when it comes."
Source: Philippe de Nicolay, Chairman, Half yearly financial results, 29 May 2009
_______
AXA Property Trust
See London Stock Exchange page for regulatory news feed
regulatory
news
______
Alpha Pyrenees
See London Stock Exchange page for regulatory news feed
regulatory
news
_______
Deutsche Land
See London Stock Exchange page for regulatory news feed
regulatory
news
_______
Develica Deutschland
See London Stock Exchange page for regulatory news feed
regulatory news
_______
Invista European Real Estate Trust
See London Stock Exchange page for regulatory news feed
regulatory news
_______
Kenmore European Industrial
See London Stock Exchange page for regulatory news feed
regulatory
news
_______
Matrix European Real Estate
See London Stock Exchange page for regulatory news feed
regulatory
news
_______
Rutley European Property
See London Stock Exchange page for regulatory news feed
regulatory
news
_______
Treveria
See London Stock Exchange page for regulatory news feed
regulatory news
_______
Speymill Deutschland
See London Stock Exchange page for regulatory news feed
regulatory
news
_______
Henderson Global Property Companies
See London Stock Exchange page for regulatory news feed
regulatory
news
_______
ING Global Real Estate Securities
See London Stock Exchange page for regulatory news feed
regulatory
news
_______
Raven Russia
See London Stock Exchange page for regulatory news feed
regulatory
news
_______
back to top
