Prices and Markets

Empiric will convert St Mary's hospital Bristol to student housing - The Board of Empiric Student Property has announced that the Group has acquired, on an unconditional basis, the freehold of the former St Mary's Hospital in Bristol for GBP8.08 million (excluding costs). The current site comprises a 3,400 sq m former hospital building and 65 car parking spaces. The Company is in the process of preparing a planning application for a 100+ bed premium student accommodation development. The scheme will...

VinaCapital Vietnam Opportunities invests in toll road operator - VinaCapital Vietnam Opportunities has become a significant investor in Tasco JSC (HNX: HUT), a leading toll road operator and real estate development company in northern Vietnam, via a private placement. Tasco's private placement raised USD23 million by issuing 21% of post-investment common shares to several investors including company management, with the largest acquirer being VOF, which invested USD11 million. Tasco will use proceeds of the private placement to help finance future infrastructure...

QuotedData’s economic round up – August 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored by Martin Currie. August Economic and Political Roundup Roundup Perhaps, the big story of July was the weakness in...

QuotedData investment companies roundup – August 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2017. Kindly sponsored by Baillie Gifford. August Investment Companies Roundup Monthly NAV/Price moves: A couple of themes stand out on the positive side – funds exposed to commodities (such as BlackRock World Mining and City Natural Resources) and funds exposed to emerging markets, especially...

Empiric buys Hahnemann building in Liverpool - The Board of Empiric Student Property has announced that the Group has exchanged contracts to acquire the freehold of the Hahnemann Building (the "Property") in Liverpool for GBP10.8 million (excluding costs). The acquisition is expected to complete in October 2017. The Hahnemann Building is a Grade II listed building within an established student area in Liverpool. The Property was originally Liverpool Hahnemann Hospital and has been converted into a high specification student accommodation scheme...

Ground Rents Income addresses negative media comment - Ground Rents Income Fund plc, a listed real estate investment trust (REIT) investing in UK ground rents, says that it has noted the recent attention in the media regarding ground rents and the launch by the Communities Secretary, Sajid Javid, of a consultation on proposals to amend leasehold legislation. The attention has been focused on leasehold houses, which account for 11% by income of the Company's portfolio, and, in particular, leaseholds with ground...

Greencoat UK Wind tops up stake in Clyde windfarm - Greencoat UK Wind PLC has entered into an agreement to make a further investment in Clyde Windfarm (Scotland) Limited, together with GLIL Corporate Holdings Limited, the infrastructure investment vehicle of certain local authority pension funds. As agreed at acquisition in March 2016, the Clyde Extension construction indemnity provided by, power company, SSE will fall away on the commercial operation date of the Clyde Extension (this is expected to occur in late...

Supermarket Income REIT buys a TESCO Extra - Supermarket Income REIT has acquired a Tesco Superstore in Thetford, Norfolk, from M&G Real Estate for GBP43.2 million, reflecting a net initial yield of 5.35% or 5.55% after the next agreed RPI-linked rent review in December 2017. The purchase has been funded out of the equity proceeds of the IPO, with senior debt finance expected to be introduced in the near term. The store comprises 78,000 sq ft (gross) on a 10.4-acre...

Land Securities pre-lets 21 Moorfields to Deutsche Bank - Land Securities and Deutsche Bank have exchanged a pre-let agreement for the bank's new London headquarters at 21 Moorfields, EC2 on a 25 year lease.  The agreement is conditional on planning permission. Landsec has worked closely with Deutsche Bank on the design of a 564,000 sq ft building. The bank will retain flexibility over the amount of space it will occupy in the new building and has committed to take a...