Secure share release
Secure Income REIT is to issue a first quarterly dividend in August of 4.2% following the sale of 43% of its share equity. It will bring in new investors to replace outgoing ones such as Lloyds Banking Group. The passing rent of its portfolio stands at £76.3m with unexpired lease averages of 23.5 years.
Dublin office boost
Dublin office markets returned 28% in 2015, according to the latest BNP PRE/MSCI Dublin Office Investment Market Report. It found that the Dublin 4 area led the way as rents surged, helping push the area’s total returns during 2015 to 37%. Dublin 2 and South Docks were the next best performing, returning 28% and 27% respectively.
LIM expands team
LaSalle Investment Management has expanded its debt investment and special situations team with the appointment of Mike Pashley and Ali Imraan as regional director and national director respectively. The team conducted a total of £550m
of loans across 12 deals
during 2015.
Intu income up
Intu Properties saw an 8% rise in rental income across its £9.6bn portfolio during 2015. Its rent roll now stands at £428m pa. On a like-for-like basis, the increase was 1.8%, the portfolio having been expanded over the year. Gross profit was down by 13% on the previous year at £518m. but underlying earnings were up by 4% to £187m.
