Prices and Markets

Civitas adds three supported living portfolios - Civitas Social Housing REIT has completed the purchase of three portfolios of specialist supported living for a total consideration of GBP5.8 million, comprising the freehold interest in 11 properties, with 52 tenancies. The portfolios are immediately income generating with an initial net yield in line with expectations and all three were sourced off-market by Civitas Housing Advisors Limited, the Investment Manager. Portfolio One Portfolio one was acquired for a total consideration of GBP2,375,000, comprising...

Ground Rents to offer inflation linked alternative to doubling rents - On 2 August 2017, Ground Rents Income Fund issued a Corporate Update in light of media attention on ground rents and the launch by the Communities Secretary, Sajid Javid, of a consultation on proposals to amend leasehold legislation. The announcement advised that the Board, in conjunction with the Investment Manager, was considering options for certain ground rents within the portfolio, reflecting concerns expressed by the Government. These concerns were...

Strategic Equity Capital - Quality small cap focus - Strategic Equity Capital (SEC’s) managers believe the current portfolio consists of very high quality smaller companies. The high cash balances that built up in 2016, on the back of events such as the e2v technologies takeover, have, largely, been redeployed. Cash drag and the fund’s focus have held back returns over the past year (see page 12). However, investment activity (detailed on page 10) has generated encouraging initial returns. Longer term, the detailed...

Fast Forward's Schoold merging with Lingo Media - FastForward is pleased to announce that investee company, Vested Finance inc (trading as Schoold Inc) in which FastForward has an equity interest of 11.6%, has announced that it has now approved a definitive agreement dated August 10, 2017 to combine in a merger of equals through an all-stock transaction with Lingo Media Corporation. Schoold is a privately held company, that is the leading mobile app for getting trusted advice on applying to university...

Renewables Infrastructure investing in battery storage project - The Board of The Renewables Infrastructure Group has announced that the company has completed the acquisition of a 100% interest in Broxburn, a battery energy storage project which is currently under construction in West Lothian, Scotland. Broxburn, a 20MW battery, was developed and is being constructed by RES, TRIG's Operations Manager. Construction is scheduled to be completed in early 2018. The Project is expected to have an operational life of 15 years. Broxburn has...

Greencoat UK Wind buys North Hoyle and Slieve Divena wind farms - Greencoat UK Wind PLC has entered into agreements to acquire the North Hoyle and Slieve Divena wind farms from institutional investors advised by JP Morgan Asset Management for a total consideration of approximately GBP105 million. The acquisitions, which are expected to complete in August 2017, will be funded by Greencoat UK Wind's revolving credit facility. North Hoyle is located 5 miles offshore in Liverpool Bay, and has a capacity...

VinaCapital Vietnam Opportunities invests in mobile phone distributor - VinaCapital Vietnam Opportunities becomes a major shareholder in FPT Retail, the second largest mobile phone distributor in Vietnam. As part of its divestment strategy, FPT Group (HSX: FPT) is spinning-off its retail distribution unit, and is selling 35% of the shares in FPTR to a few institutional investors of which VOF is one of the largest. VOF has invested USD11 million in this offering. As part of the conditions of the sale, FPT...

London Museum of Photography headed to Whitechapel - Derwent London has announced that it has pre-let the lower ground floors and a new office pavilion at The White Chapel Building, 10 Whitechapel High Street E1, to Fotografiska.  Fotografiska runs the world renowned photography museum in Stockholm and will use the space for Fotografiska - The London Museum of Photography. This is their first gallery outside Stockholm and will add another important cultural and leisure hub to the fast improving Whitechapel...

Ediston sells Phoenix office building in Reading - Ediston Property Investment Company has sold its office building, Phoenix, Reading, to Fidelity UK Real Estate Fund for GBP20,510,602 which is not materially different to the valuation at 30 June 2017. The property extends to c.52,000 sq. ft., is multi-let to four tenants, and has c. 6,000 sq. ft. vacant and to let. The asset was acquired by Ediston, as part of the seed portfolio, in October 2014.  On acquisition it had over...