Manchester United: Sir Jim Ratcliffe Champions Northern National Stadium Feb 22, 2024 Manchester United’s new co-owner, Sir Jim Ratcliffe, has revealed plans to potentially construct a new stadium for the club, aiming to revitalise the north of England’s sporting landscape. The current home of the Red Devils, Old Trafford, with a capacity of 74,310, has been their base since 1910. However, Ratcliffe points out that the stadium […] Posted by: Mya Driver Read more
Urban Logistics REIT Proposes Higher Offer for Abrdn Property Income Trust Feb 21, 2024 Urban Logistics REIT has ignited a competitive bidding process with a counteroffer for the Abrdn Property Income Trust, setting a 13 per cent premium over the bid from Custodian Property Income. This escalation marks a heated contest for the trust, spotlighting the vigorous activity in the realm of real estate investment trusts aimed at broadening […] Posted by: Mya Driver Read more
LGIM Revamps UK Property Fund with a Hybrid Approach Feb 20, 2024 Legal & General Investment Management (LGIM) has announced plans to revamp its UK property fund, introducing a strategy that blends direct property investments with indirect holdings. The new approach, dubbed the PAIF Hybrid, aims to adjust the fund’s composition by reducing its direct property investment to 45%, while allocating another 45% to global real estate […] Posted by: Mya Driver Read more
KSL Capital Eyes £800m Divestiture of UK’s Village Hotels, Testing Hospitality Market’s Pulse Feb 19, 2024 KSL Capital Partners is set to explore the sale of its extensive Village Hotels portfolio, valued at approximately £800 million, marking a strategic pivot almost a decade after its acquisition for £485 million from De Vere Group. The American equity firm has engaged the services of Morgan Stanley to navigate this significant transaction, signaling a […] Posted by: Mya Driver Read more
Home REIT Sells Off 117 Properties at a Loss, More to Follow Feb 16, 2024 Home REIT, the housing provider for the homeless, has disposed of 117 properties through a public auction on Valentine’s Day, incurring losses in the process. The company managed to gather gross proceeds of £5.6 million from the sale, which accounts for 1.4 per cent of its portfolio by value. The auction’s proceeds stood at £1.02 […] Posted by: Mya Driver Read more
Standard Life completes £114 buy-in with the Vector Pension Scheme Feb 15, 2024 Standard Life, part of Phoenix Group, has concluded a £114 million Bulk Purchase Annuity (“BPA”) transaction covering c. 1,800 members of the Vector Pension Scheme (“the Scheme”), which is sponsored by Vector Industries Limited. This is a full scheme bulk purchase annuity arrangement which completed in November 2023. XPS Pensions Group (“XPS”) acted as the […] Posted by: Mya Driver Read more
Countryside Partnerships to Construct 5,000 New Homes in Build-to-Rent Scheme with Sigma Capital Feb 15, 2024 Countryside Partnerships, a subsidiary of Vistry Group, has announced a renewed partnership with Sigma Capital, a leading build-to-rent (BTR) provider, to construct 5,000 new homes across the UK. These homes, destined for Sigma’s BTR brand Simple Life Homes, are set to be developed over the next five years, marking a significant boost in housing availability […] Posted by: Mya Driver Read more
Revealed: The 20 English Towns and Cities to get 11,500 New Homes Feb 14, 2024 The government has announced the 20 towns and cities poised to benefit from the construction of 11,500 new homes. This initiative aims to provide a substantial boost to housing availability, targeting previously developed brownfield sites to accommodate this significant increase. The strategy not only seeks to make home ownership more attainable for younger buyers but […] Posted by: Mya Driver Read more
Tritax Big Box Set to Acquire UKCM in a £924 Million Deal, Creating a £3.9 Billion Real Estate Powerhouse Feb 13, 2024 Tritax Big Box, a leading warehouse operator with major clients such as Ocado, Amazon, and B&Q, has announced its agreement to purchase UK Commercial Property REIT (UKCM) for £924 million. This strategic acquisition is poised to form a colossal real estate entity valued at £3.9 billion, boasting a combined property portfolio of £6.3 billion predominantly […] Posted by: Mya Driver Read more
Blackstone to Form Major UK Industrial Property Powerhouse by Merging Warehouse Landlords Feb 13, 2024 Blackstone Inc. is set to consolidate its warehouse property interests in the UK, merging St Modwen and Industrials REIT with other assets from 25 acquisitions to launch Indurent, a new entity poised to become a leading force in the UK’s industrial real estate market. This strategic move aims to streamline operations and enhance the company’s […] Posted by: Mya Driver Read more
