학생부지 임대료 자산 처분
지상 임대료 소득 기금 plc
(그 회사')
STUDENT GROUND RENT DISPOSAL AT 4% PREMIUM TO LATEST VALUATION
Ground Rents Income Fund plc announces the sale of its freehold ground rent interests in Bristol and Exeter, for a combined price of £3.45 million. The assets currently generate annual rent of £113,991 and are operated by Vita Student ('Vita') as purpose built student accommodation. The price represents a 4% premium to the 30 September 2023 independent valuation of £3.30 million and reflects a net initial yield of 3.1%. The assets are being acquired by the Company's long leaseholder.
Both assets were acquired from Vita in February 2014 for £2.42 million and were part of a six asset headlease restructure that generated an apportioned receipt of £354,000 for the subject assets.
The disposal is in line with the Company's change of strategy, approved by shareholders in 2023, to realise assets in a controlled, orderly and timely manner. Further disposals are planned, with significant work ongoing to improve the liquidity of the underlying portfolio, but uncertainty relating to leasehold reform means that transactional volumes are very low across the ground rent sector. The disposal proceeds will be used to repay debt and also act as a cash reserve against possible building safety related costs and expenses.
As set out in the AGM notice and Circular, a full update on progress implementing the strategy and leasehold reform will be provided with the Company's year-end accounts that are due to be issued before 30 June 2024.
자세한 내용은 :?
슈로더 부동산 투자 관리?제한된 닉 몽고메리 / 크리스 리크 / 매튜 라일리 | + 020 7658 6000 |
가수 자본 시장 (Broker)? 제임스 맥스웰 / 알레이나 웡 | + 020 7496 3000 |
Appleby Securities(Channel Islands) Limited(후원)? 앤드류 위버 / 마이클 데이비스 | + 01534 888 777 |
FTI 컨설팅 리차드?Gotla / Dido Laurimore / Oliver Parsons | + 020 3727 1000 |
편집자 주 :
Ground Rents Income Fund plc는 국제 증권 거래소에 상장되어 있고 런던 증권 거래소의 SETSqx 플랫폼에서 거래되는 폐쇄형 부동산 투자 신탁입니다.
Schroder Real Estate Investment Management Limited('관리자')는 건물 안전 및 임차권 개혁과 관련된 역풍에 맞서 회사 이사회를 지원하기 위해 2019년 XNUMX월 회사의 대체 투자 펀드 매니저로 임명되었습니다.
During the first half of 2023 the Board and Manager carried out an extensive shareholder consultation on proposals to change the Continuation Vote mechanism included in the Articles dating from 2012, as well as proposed changes to the Investment Policy. These proposals received strong support from shareholders and resulted in a new Continuation Resolution and Investment Policy. The new Investment Policy adopts a strategy of realising the Company's assets in a controlled, orderly and timely manner for shareholders, whilst continuing to deliver best-in-class residential asset management including fairness, transparency, and affordability for leaseholders.
On 9 November 2023, the Government published a consultation on restricting the level of ground rent which leaseholders in England and Wales pay for existing leases. The consultation represents a significant shift in the Government's approach to leasehold reform and could have a materially adverse impact on the value of the Company's underlying portfolio. The Company submitted a comprehensive response to the consultation on 17 January 2024 and has, inevitably, further delayed the work required to finalise the year end accounts. The Company has kept shareholders informed of this consultation, including through a regulatory announcement made on 20 November 2023, which can be found at: https://tisegroup.com/market/news/330499
The potential outcome and timing of further legislative change following the Government consultation remains highly uncertain, and the Company will notify shareholders when there is further clarity. The Company is also in discussions with its lender regarding an extension of its loan facility that expires in January 2025, and expects to provide an update on progress within the forthcoming accounts.
The Annual General Meeting ('AGM') of the Company will be held on 11 March 2024 at 9.30 am at 1 London Wall Place, London, EC2Y 5AU. Full details are set out in the AGM Notice posted to shareholders and may be downloaded at the following link: http://www.rns-pdf.londonstockexchange.com/rns/2992D_1-2024-2-15.pdf
Due to ongoing work relating to leasehold and building safety reform the Company will delay the release of its year-end audited accounts from early 2024 to during the quarter ending 30 June 2024. This extension has been approved by Companies House and The International Stock Exchange Authority Limited. The Company expects to hold a separate Extraordinary General Meeting in advance of 30 June 2024, at which the Accounts will be presented to shareholders and shareholder resolutions relating to the Accounts will be proposed.
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groundrentsincomefund.com
RNS는 귀하의 IP 주소를 사용하여 약관 준수 여부를 확인하고, 귀하가 이 커뮤니케이션에 포함된 정보를 사용하는 방식을 분석하고, 그러한 분석을 익명으로 다른 사람과 상용 서비스의 일부로 공유할 수 있습니다. RNS와 런던 증권 거래소가 귀하가 제공한 개인 데이터를 사용하는 방법에 대한 자세한 내용은 개인 정보 보호 정책을 참조하십시오.