UK net rental income slides at SEGRO
21st Feb 2012 07:19
Industrial property owner SEGRO sent out mixed messages with its 2011 results, with earnings per share up, net asset value (NAV) per share down and profits before tax turning into a loss. Reported loss before tax was £53.6m in 2011, versus a profit in 2010 of £197.2m, but on a European Public Real
Read moreLondon close: Stocks establish a new high for the year
20th Feb 2012 17:46
-Miners jump as investors seek riskier assets. -Officials optimistic about securing Greek bailout. -PBoC cuts RRR for banks. -ECB bought no debt last week through SMP program. Stocks rose on Monday and established a new high for the year after what appears to have been some genuinely positive new
Read moreLondon midday: Risk appetite increases on Greek bailout hopes
20th Feb 2012 11:32
- Miners jump as investors seek riskier assets. - Officials optimistic about securing Greek bailout. - PBoC cuts RRR for banks. With the possibility of a Greek bailout edging closer, and China moving to ease fears of a 'hard-landing' over the weekend, UK stocks had extended gains by lunchtime, wit
Read moreLondon open: Buying boosted by Greece, China
20th Feb 2012 08:26
- Decision day for Greece, hopes of a bailout approval boost stocks. - PBoC cuts RRR for banks. - Miners, oil stocks perform well early on. Just a handful of stocks were in the red in early trading on Monday, as market sentiment was lifted by hopes that Greece can secure its next tranche of aid. Me
Read moreLondon pre-open: FTSE 100 boosted by China (and Greece)
20th Feb 2012 07:23
City sources predict the FTSE 100 will open up around 42 points from Friday's close of 5,905, following Friday's news that the People´s Bank of China is to cut its legal reserve ratio requirement for large banks by half a percentage point. As well, different reports out over the weekend are making f
Read moreUK Commercial Property on spending spree
20th Feb 2012 07:06
UK Commercial Property Trust (UKCPT) has spent 60.51m quid buying industrial park assets from SEGRO. The income from the properties totals £4.67m per year, representing a net initial yield of 7.34%. The transaction will be financed primarily through the use the £150m credit facility that UKCPT ag
Read moreSEGRO disposes of five non-core UK estates
20th Feb 2012 07:03
SEGRO, the FTSE 250 European industrial property firm, has offloaded a portfolio of five "non-core" UK industrial estates to Ignis Asset Management for £80.2m. The sales represents a net initial yield of 6.3%, 7% including the benefit of rent top-ups and guarantees. The disposal of the five estate
Read moreSegro JV scoops UK Logistics Fund
1st Feb 2012 07:50
Industrial property firm Segro and Moorfield Real Estate Fund have together, through their recently established joint venture (JV), completed the acquisition of the UK Logistics Fund from Hermes Real Estate Investment Management, Legal & General and LaSalle Investment Management. The move marks a s
Read moreBarclays director keeps the faith
21st Dec 2011 16:29
Sir Michael Rake, the Senior Independent Director of Barclays, has upped his stake in the firm less than a week after the global bank was downgraded by Fitch Ratings. Rake, who is currently also Chairman of telecommunications firm BT Group and Chairman of Easyjet, bought up 5,914 ordinary shares a
Read moreTuesday tips round-up: Segro, Aviva, European Goldfields
20th Dec 2011 07:25
The Times's Tempus column takes a look at the property investment company Segro. Segro is actually a real estate investment trust or REIT, the kind of company which looks to return lots of money to shareholders in dividends instead of focusing on capital growth. Yesterday it announced a joint ventu
Read moreMonday broker round-up - UPDATE
19th Dec 2011 09:10
Randgold Resources: Goldman Sachs downgrades to sell from neutral. Aggreko: Investec puts 1,950p target under review, buy rating retained. Carnival: Evolution Securities keeps buy recommendation and 2,850p target. Ocado: Panmure Gordon keeps sell rating and 50p target. Babcock: Panmure Gordon r
Read moreSegro buys logistics business
19th Dec 2011 07:27
Industrial property company Segro said it is to buy 14 warehouse units and a one development site. Segro and its joint venture partner Moorfield Real Estate Fund UK Logistics Fund are splashing out £314.7m on UK Logistics Fund (UKLF), which owns the sites. Both partners will pay £65m into the thei
Read moreRetention rate remains healthy at Segro
8th Nov 2011 16:32
Industrial property company Segro has continued to deliver good operational results in the third quarter of the year, despite the unsettled macro economic environment. In a statement the company said: "We saw a good level of enquiries across our portfolio with demand both for new space and pre-let
Read moreSegro agrees pre-let lease with Infinity
7th Nov 2011 08:02
FTSE 250 industrial property company Segro has signed a pre-let for a new data centre facility with Infinity, at the Slough Trading Estate. The firms have agreed a 25 year lease for the 125,000 sq ft development, with completion due in 2012. Chief executive of Segro, David Sleath, said: "We have
Read moreSegro signs two more pre-let developments
30th Sep 2011 07:49
Industrial property company Segro has signed two further pre-let developments in Poland, which in aggregate total 39,300 square metres (423,000 square feet) of logistics warehousing space. The firm has agreed to develop a new 31,700 square metres (341,200 square feet) distribution facility for a ma
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