Proactiveinvestors United Kingdom - Real Estate RSS feed Proactiveinvestors United Kingdom - Real Estate feed en Sat, 20 Jan 2018 11:20:19 +0000 Genera CMS Purplebricks' ascent to put the squeeze on Rightmove Thu, 18 Jan 2018 11:03:00 +0000 Countrywide issues profit warning after glum fourth quarter Thu, 18 Jan 2018 10:20:00 +0000 Taylor Wimpey completes more homes in 2017 on strong demand despite Brexit uncertainty Wed, 10 Jan 2018 08:12:00 +0000 Persimmon anticipates full year pre-tax profits “modestly ahead of market consensus” Tue, 09 Jan 2018 08:40:00 +0000 MJ Gleeson expects first half results to “comfortably exceed" prior year, maintains full year results guidance Thu, 04 Jan 2018 07:52:00 +0000 Belvoir franchisees beat 2017 target for portfolio acquisitions Wed, 03 Jan 2018 07:42:00 +0000 Persimmon's chairman to retire, senior independent director quits in row over executive pay scheme Fri, 15 Dec 2017 08:24:00 +0000 Berkeley Group shares come under pressure after broker downgrades the stock on valuation grounds Wed, 13 Dec 2017 09:26:00 +0000 Mega Christmas shopping deal as France's Unibail-Rodamco bids US$24.7bn for Australia’s Westfield Tue, 12 Dec 2017 08:05:00 +0000 Belvoir Lettings says Brook Financial Services' net written business up 57% in two months since purchase Tue, 12 Dec 2017 07:10:00 +0000 Berkeley upgrades five-year profit guidance but points to Brexit-driven slowdown Fri, 08 Dec 2017 13:00:00 +0000 Housebuilders boosted by Brexit 'breakthrough' and well-received Berkeley interims Fri, 08 Dec 2017 12:02:00 +0000 Unite Group unveils new student accommodation project with Oxford Brookes University Fri, 08 Dec 2017 07:33:00 +0000 Hammerson's £3.4bn takeover bid for Intu could raise competition concerns, says analyst Wed, 06 Dec 2017 11:49:00 +0000 Property in vogue: Credit Suisse shuffles ratings for London Office REITs Wed, 06 Dec 2017 10:29:00 +0000 Shopping centre owner Hammerson to buy rival Intu Properties in all-share deal Wed, 06 Dec 2017 10:05:00 +0000 Deutsche Bank downgrades Berkeley Group but remains bullish on sector Thu, 30 Nov 2017 11:47:00 +0000 Lettings agent Belvoir slates Hammond for lack of Budget help for landlords Thu, 23 Nov 2017 11:56:00 +0000 Belvoir Lettings withdraws possible merger offer for The Property Franchise Group Thu, 16 Nov 2017 09:41:00 +0000 British Land secures largest West-End office pre-let for two decades; half-year net asset value rises Thu, 16 Nov 2017 08:42:00 +0000 Funds want The Property Franchise Group to talk to Belvoir Lettings over possible merger Tue, 14 Nov 2017 09:02:00 +0000 Taylor Wimpey reports 'strong' second half but order book down on last year Mon, 13 Nov 2017 13:13:00 +0000 Persimmon shares fall as it reports flat third quarter sales Wed, 08 Nov 2017 15:03:00 +0000 Belvoir Lettings delighted with performance of Northwood subsidiary Wed, 08 Nov 2017 13:35:00 +0000 Belvoir Lettings nabs Franchise/ Network of the Year at the Negotiator Awards Mon, 06 Nov 2017 07:26:00 +0000 Intu Properties upgraded to 'hold' as trading conditions stabilise Thu, 02 Nov 2017 10:37:00 +0000 Barclays downgrades a trowel-full of house-builders ahead of Budget Mon, 30 Oct 2017 08:49:00 +0000 Foxtons sees revenues slide again but hints it is riding out the storm Wed, 18 Oct 2017 09:44:00 +0100 Custodian REIT happy to keep property portfolio small and perfectly formed Tue, 17 Oct 2017 08:40:00 +0100 Purplebricks shares surge as Berenberg initiates coverage at 'buy' and sees 'significant' growth Thu, 12 Oct 2017 13:05:00 +0100 Belvoir Lettings hails performance of its Northwood franchise network Dorian Gonsalves, chief executive of Belvoir Lettings PLC (LON:BLV), tells Proactive the firm's Northwood franchise network has completed five portfolio acquisitions in the past two months - taking the total number of acquisitions made by Northwood this year to 10.

Gonsalves also discusses their recent win at the Negotiator Awards 2017 which saw them scoop the Franchise/ Network of the Year award.

Wed, 08 Nov 2017 12:40:00 +0000
Income the main focus for Custodian REIT Richard Shepherd-Cross of the Custodian REIT (LON:CREIT) introduces the trust to Proactive Investors.

''Income's always been the main focus for us'', Shepherd-Cross says.

''The portfolio is regionally based - we don't have properties within the M25, with one or two minor exceptions but principally it's a regional portfolio''.

''It's weighted towards the industrial sector - about 42% of the portfolio is industrial or logistics''.

He adds: ''The balance of the portfolio is about 15% in high street retail …. and don't believe everything you hear about high street retail - it's not dead it's just changing''.

Mon, 09 Oct 2017 09:09:00 +0100
Belvoir Lettings perfectly positioned for continued growth Dorian Gonsalves, chief executive of Belvoir Lettings PLC (LON:BLV), talks Proactive through the group's operations and growth strategy.

''We've adopted an aggressive strategy of buying up smaller agents, integrating them into our franchised offices, of which we now have 300 and that strategy's working really well for us''.

A restructuring, focus on franchising and full six months from Northwood (acquired just over a year ago) helped profits jump to £1.73mln (£1.07mln) on revenues of £4.92mln (£4.29mln) in the half year to June.

Management services fees (MSF), the bulk of revenue, rose 47% to £3.8mln, with 57,000 properties now on the books.

Fri, 08 Sep 2017 14:02:00 +0100
Purplebricks 'doing well' despite poor UK housing market - Proactive's Jon Hopkins Jon Hopkins, senior reporter at Proactive Investors talks through Purplebricks Group  PLC's (LON:PURP) results for the year to the end of April 2017.

The digital estate agency saw its loss on ordinary activities before tax reduced to £6.059mln, down from an £11.90bn loss a year earlier, as revenue more than doubled to £46.7mln, up from  £18.6m in 2016.

The group said its UK operation had achieved its first operating profit, of £200,000, and had seen sales of £5.8bn worth of UK homes.

Thu, 29 Jun 2017 12:22:00 +0100
Recurring revenues underpin record year for First Property Record profits for property fund manager are clear evidence that focus on sustainable income streams is paying off, chief executive Ben Habib tells Proactive Investors.

Thu, 08 Jun 2017 11:55:00 +0100
First Property's Ben Habib 'very pleased' to hang on as league-leading fund manager Ben Habib, chief executive of First Property Group PLC (LON:FPO) tells Proactive's Andrew Scott they've retained their position as the best performing fund manager versus MSCI's Central and Eastern European (CEE) Benchmark.

The property fund manager and investor has been in pole position now for eleven years in Morgan Stanley Capital International’s (MSCI) rankings in this category.

Thu, 04 May 2017 12:56:00 +0100
UK economy: 'Inflation squeeze' is set to worsen - Tip TV UK Consumer spending in March as represented by the Retail Sales dropped the most since 2011.
Mike Ingram, Strategist at BGC Partner says, it is the sharp spike in the retail price inflation to five year high and flat wage growth that is hurting the UK consumer.
Ingram says, “There is plenty of inflation in the pipeline” So no surprises if we see a sequential drop in the retail sales.
Watch the full segment to know if Trump’s tax cuts would boost the economic growth or merely benefit the top 5% of the US economy.

Wed, 26 Apr 2017 12:41:00 +0100
Secure Income REIT PLC 'generating good strong income returns with capital growth' Nick Leslau and Sandy Gumm from Secure Income REIT PLC run Proactive Investors through the group's strategy and portfolio.

''We listed this business in 2014 with a view to producing attractive geared returns .. built on some really unique, very special leases we have'', Gumm says.

''We've assembled the portfolio -currently 81 assets - with an average lease length without break of 23 years which is most unusual''.

Tue, 14 Mar 2017 13:26:00 +0000
Wait for this number before going long on Purplebricks, says Zak Mir Technical analyst Zak Mir reckons investors should wait for a break above the £1.65 mark before going long on Purplebricks Group PLC (LON:PURP).

“For my money, above the 200-day moving average of £1.38, we could actually head up to the top of this rising 2016 price channel at £2.20 on a three to six month view.”

“If you’re cautious, which some people might be, wait for a break of £1.65 as a momentum signal before going long.”

Mon, 16 Jan 2017 10:10:00 +0000
Walls & Futures REIT plc to take advantage of gap in social housing Walls and Futures is a Real Estate Investment Trust. They’re focused on delivering long-term income and capital growth by investing in residential property across the UK.

Managing Director Joe McTaggart tells Proactive: ''It's about providing good quality housing. What we've learnt in our time developing and putting together private rental properties is that we've tried to build to a higher standard - if you've managed the property then things are less likely to go wrong ... and therefore eat into your yield.''

Thu, 08 Dec 2016 12:24:00 +0000
Reversal pattern suggests Berkeley Group will rise higher Berkeley Group PLC (LON:BKG), like other housebuilders, operates in a market where demand outstrips supply but the technical picture also looks good says Zak Mir, technical analyst at Tip TV.

Last week’s trading update saw the share price ‘gap up’ to £26 to make a strong technical formation said Mir.

As long as the share price remains above the above 50-day average of £24.64, Mir expects the price to rise up towards the £34 top of range in the next month or two

The cautious may wait for the price to breach the 200-day average at £27.80, said Mir, but this is a nice reversal pattern he added.

Mon, 05 Dec 2016 11:50:00 +0000
'The future is looking bright' says First Property Chief PLC Ben Habib The commercial property investor and fund manager First property Group PLC revealed in its interim results that the adjusted NAV per share stood at 45.8p at the end of September, up 19.8% from 38.27p a year earlier.

Total assets under management rose 43% to £405mln from £283mln 12 months before.

Chief executive Ben Habib tells Proactive: ''I'm really pleased. Four or five years ago the underlying annual profits of First Property Group were around £3 mln a year and now ... if you took our half year  figure and doubled it you can't be a million miles away. That's a very significant increase in the size of the business.''

''We think the future is bright. interest rates are going to stay low. That means people are going to want to buy property, property is relatively cheap compared to other asset classes. We're very good at what we do and I think we'll raise funds to invest in more commercial property''.

Habib added: 'We're a small management team. In order to be opportunistic and be nimble you've got to keep your management team small - I never want the company to be ridden with committee decision making. There's a very small number of people who make the decisions''.

Wed, 23 Nov 2016 09:17:00 +0000
We're seeking to be a long-term boring income fund, says Target healthcare REIT Ltd's Kenneth Mackenzie Target Healthcare are specialist investors in new and nearly-new, purpose built UK care homes and other health care assets.

Speaking to Proactive, managing partner Kenneth MacKenzie said: ''We're a long-term income fund investing in the elderly care sector. One of the fundamentals of elderly care in the UK is that there's a limited amount of really good stock and we only buy in that part of the market''.

''The number of over-85s in the UK doubles in the next 20 years so a lot more care homes are required'', MacKenzie said.

Asked about Target Healthcare's plans for 2017 he added: ''More of the same. We are seeking to be a long-term boring income fund. We're the longest income fund in the UK ... we have 29+ years of income in front of us so we're not trying to be exciting, we're not trying to knock the socks off capital values.''

Tue, 01 Nov 2016 14:33:00 +0000
Rhea Silva hoping to make a difference with Chototel project Social entrepreneur Rhea Silva, the founder of Chototel, discusses the aims of the group with Proactive's Sarah Lowther.
The firm is branded as a super budget hotel but its aim is also to offer social accommodation to those in need.
The first pilot project is in the south of Mumbai, where rooms start at $2 dollars and will house a family of four.
Silva aims to supply 1% of the world's demand for affordable housing by 2025 and highlights that one third of the urban population is suffering from housing poverty in one form or another.
The group is self-funded at the moment and works with the Social Stock Exchange, which deals with companies, which are socially and environmentally minded.

Wed, 14 Sep 2016 09:08:00 +0100
First Property chief sees “great opportunity” if BREXIT occurs Ben Habib, chief executive of First Property Group PLC (LON:FPO) says he is very confident that, “short of a seismic commercial event” the company should be able to maintain and even increase its dividend.

Property fund manager First Property saw the value of the directly owned portfolio rise by 6% in its latest trading year, as it upped its dividend by 11.5% to 1.115p. 

Habib also touches on the BREXIT debate, noting he would be “very gung-ho” should the UK vote to leave the EU.

“If we get a vote for BREXIT and if the commentators are right that sterling will weaken and the markets will go into a degree of volatility, we’ll be looking at that as a really great opportunity to buy assets in the UK,” he says.

Fri, 10 Jun 2016 15:00:00 +0100
Pacific Industrial & Logistics’ Turner talks AIM listing and investor returns Christopher Turner, executive director at Pacific Industrial & Logistics REIT plc (LON:PILR), a company focused on investing in single-let UK-based industrial and logistics properties, says he sees e-commerce as a “driving force in the industrial logistics sector”.

E-commerce has “had a huge impact on demand, take-up over the last year by the principle e-commerce operators has almost completely cleared out available stock in the markets,” he adds.

The company is backed by property investment veteran Sir John Beckwith, and headed by heavyweight Richard Moffitt,

The management team will not receive remuneration until the firm is returning a minimum yield of 6.5% to investors, but Turner says that, “with the current demand that we are experiencing, and acquiring properties that offer a yield profile of seven and a quarter to eight and a half per cent, we anticipate that we should be quite quickly getting into double digit yields.”

Thu, 21 Apr 2016 08:53:00 +0100
Real Estate Investors PLC chief on 2015 and potential Brexit impact Paul Bassi, chief executive of Real Estate Investors PLC (LON:RLE) says he expects “more of the same” after the company reported its full year results for 2015.

The figures were “very much in line with management’s expectations,” he adds, after a surge of investment into the West Midlands helped the firm lift net assets by well above inflation in 2015 and raise its dividend by a third.

He also speaks about the upcoming Brexit decision, saying: “Every time there are periods of uncertainty, that is a window of opportunity for us.”

Mon, 14 Mar 2016 13:55:00 +0000
Real Estate Investors boss delighted with latest Midlands deals Paul Bassi, chief executive of Real Estate Investors (LON:RLE), says the company’s latest acquisition is arguably the best retail unit in the city centre of Wolverhampton.

The building was purchased from the Irish National Asset Management Agency for £2mln and the site is set to generate £276,200 a year in rent, or a yield of just over 13%.

The firm also acquired an office scheme in Coventry producing an annual rent of £454,162 with a net yield north of 8%.

Mon, 21 Dec 2015 11:13:00 +0000
Online estate agent Purplebricks finds a home on AIM Proactive speaks to Michael Bruce, chief executive of newly-listed online real estate platform Purplebricks (LON:PURP) about the company’s hybrid model, which is set to change the way houses are sold and let.

The firm belongs to a new breed of agencies offering a rival service to traditional estate agents that is web-based and cheaper.

It has 4,300 homes for sale and undercuts the traditional agencies by charging a flat fee of £665 plus VAT, or £965 in certain parts of London.

Today the company listed on London’s AIM market, raising £25mln in the process.

Thu, 17 Dec 2015 14:50:00 +0000
London’s office market hasn’t peaked yet, says departing Helical Bar boss Mike Slade Veteran property boss Mike Slade says he sees nothing that could knock London’s booming commercial property market over the next few years and expects the sector to continue to thrive.

Slade has been at the helm of real estate investment and development company Helical Bar (LON:HLCL) since 1984, successfully steering the firm through recessions and property market crashes.

He will step down as CEO next year, but stay on as chairman at a time when commercial property and office rents have reached all-time highs across the City.

The target for Helical Bar, he says, is to build a property portfolio worth over £1bn.

Mon, 07 Dec 2015 15:48:00 +0000
First Property's Habib bullish on Polish and UK property markets First Property Group's (LON:FPO) chief executive Ben Habib tells Proactiveinvestors says that now is a great time to buy new assets in Poland and that the company is working on deals that should significantly increase the company's profitability.

He also says he remains 'very positive' on the outlook for both the UK and Polish property markets.

Thu, 26 Nov 2015 15:35:00 +0000
Ace Liberty & Stone's focus on the north is paying dividends Ace Liberty & Stone (ISDX:ALSP) is an ISDX property company that pays dividends, which must make it a rarity. As financial director Ivan Minter explains, it focuses on the north of England, where the value is, and generally acquires commercial properties with reliable tenants, such as Her Majesty’s Government. Commercial properties generally have short leases, which allow the company to “move the property on”, releasing value through change of use. It’s portfolio is currently worth £24mln but it expects to grow it to around £30mln in the next year.

Wed, 25 Nov 2015 12:35:00 +0000
Arricano’s portfolio undervalued in light of Ukraine turmoil, says CEO Mykhailo Merkulov, chief executive at AIM-listed Arricano Real Estate (LON:ARO), says the value of the company’s portfolio of Ukraine-based shopping and entertainment centres isn’t fully reflected, given the economic and geological turmoil in the country.

Ukraine's national currency, the hryvnia, plunged in the wake of the crisis in Crimea and the east of the country. Meanwhile, retail sales in Ukraine slumped 18% in October alone as pro-Russian separatists continue to fight Ukrainian forces.

That said, Arricano has the biggest portfolio of shipping malls in Ukraine and remains focused on growth – with two developments projects in Kiev (Lukianivka, Petrivka) and one in Odessa (Odessa Mall) underway.

Thu, 19 Nov 2015 12:07:00 +0000
Real Estate Investors boss says income from new property buys will aid divi growth Paul Bassi, chief executive of midlands property specialist Real Estate Investors (LON:RLE), says income from the company’s latest acquisitions will be used to support the firm’s dividend policy.

Two properties in Birmingham are let to NPower and The Midcounties Co-operative Society, while the other, near Stoke, is occupied by food and retail outlets such as Matalan, Argos and Pizza Hut.

The three buildings cost £22.2mln cash in total, have unexpired leases of around 8.5 years and produce a total annual rental income of £1.93mln, a yield of around 8.2%.

Mon, 02 Nov 2015 12:01:00 +0000
MJ Gleeson boss eyes gradual build for home and land units Jolyon Harrison, chief executive of affordable home specialist MJ Gleeson (LON:GLE) comments on the company's growth plans.

The firm’s win track strategy - the development of low cost homes for sale in the North of England and strategic land sales in the South – has delivered a strong performance in recent years.

Market conditions in both sectors remain favourable, Harrison believes, and there’s considerable scope to grow both revenue and profits in the current year and beyond.

Its Gleeson Homes division is on track to achieve its medium term target of 1,000 unit sales per annum.

Mon, 26 Oct 2015 08:55:00 +0000
Real Estate Investors CEO eyes £200mln property portfolio Paul Bassi, CEO of Real Estate Investors (LON:RLE), says the company is aiming for a property portfolio worth £200mln by the first quarter of 2016.

Rising valuations and income from existing real estate led to a strong set of first half figures for the Midlands-focused firm.

Revenue shot up 31% to £3.8mln in the first six months while pre-tax profits jumped 211% to £8.1mln.

“We will continue to buy where we can add value and get double digit yields in our area of focus,” said Bassi, following the results.

Wed, 16 Sep 2015 07:26:00 +0100
First Property boss urges govt to extend offices to flats scheme The chief executive of First Property Group (LON:AMC), Ben Habib, has reiterated calls to extend a scheme that allows companies such as itself to turn unused office space into affordable town and city centre flats.

Habib made the call as he announced the sale of a development in Uxbridge, in west London, which will contribute £1mln to the company’s profits this year.

The conversion was made under permitted development rights that relaxed planning regulations, but which are expected to expire next year.

Speaking to Proactive, the CEO says he has written to the Secretary of State for the Department for Communities and Local Government, Greg Clark, but so far he’s had no response.

Mon, 10 Aug 2015 11:50:00 +0100
First Property boss looking to build profits in Poland and Romania First Property Group (FPO:LON) CEO Ben Habib tells Proactive Investors how his team scouts untapped trends across the European property market.

"We're not looking for policy driven, geographic or sector based investment strategy - we look for deals," he said.

One trend he says is likely to be profitable is buying Polish and Romanian investment property because borrowing is cheap and yields are high.

"The pricing in those countries for good secondary property has not recovered from credit crunch levels so you are able to buy high yielding sustainable income streams" he said.

Mon, 22 Jun 2015 16:29:00 +0100
Real Estate Investors CEO says group has capitalised on downturn Paul Bassi, the chief executive officer of Real Estate Investors (LON:RLE), tells Proactive Investors that the commercial property group has benefited from the downturn, especially in Birmingham where almost a third of its portfolio is located.

Bassi discusses the company’s plans to pay a dividend quarterly in 2016, potential acquisitions outside the town centres and the upcoming general election.

Real Estate Investors’ final results revealed record revenues and profits of £8mln, up from £6.7mln, and £6mln, up from £5mln, respectively. 

Mon, 16 Mar 2015 10:46:00 +0000
Real Estate Investors aims to double portfolio over 12-18 months Paul Bassi, chief executive of Real Estate Investors (LON:RLE) says the company is buying commercial properties in Birmingham just as the city is on the cusp of re-emerging as a major economy in the UK.  He says the purchase of another office building, in the heart of the new Birmingham "masterplan", for £1.85mln is about "value, value, value" with an initial yield of 11%.

Bassi says that even if the Bank of England increases interest rates investors would still get a better deal with property investments than they would with Treasury securities.

Tue, 17 Feb 2015 14:33:00 +0000