Intu foresees rental growth
Intu expects to deliver like-for-like net rental income growth of 2% to 3% for 2016, according to a company statement. During the period from 1 January 2016 to 4 May 2016, the shopping centre owner and operator agreed 43 new long-term leases, equating to £7m of annual rent, 10% above the previous passing rent.
Investec fuels Glasgow digs
Investec Bank has provided Balfour Beatty with £26m in financing for its student accommodation scheme in Kennedy Street, Glasgow.
The 536-bed scheme, which is expected to have a total end value of £37m, is Balfour Beatty’s first project for the student accommodation
direct-let market. Completion of the scheme is scheduled for July 2017.
L&Q in housing bond issue
Housing association L&Q has completed a £300m bond issue secured against its social housing developments. The issue will help the company develop projects at Fish Island, E9; Barking Riverside; and the Hyde, NW4. The issue follows a £250m bond launched in October 2016.
