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Swiss Prime, Aldar log results; Derwent agrees £103M London property sale

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Swiss Prime, Aldar log results; Derwent agrees £103M London property sale

* Swiss Prime Site AG said its EPS for the first six months was CHF4.69, an increase from CHF2.13 in the prior-year period.

* United Arab Emirates-based Aldar Properties PJSC said its gross profit for the second quarter amounted to 669 million dirhams, a 3% rise from 649 million dirhams in the prior-year period. Net profit for the quarter came to 476 million dirhams, up 7% from 445 million dirhams in the prior-year period.

* Derwent London PLC said its International Financial Reporting Standards EPS for the half was £1.18, a decrease from £1.20 in the year-earlier period. Derwent said it exchanged contracts to sell The Buckley Building in London for £103.0 million before costs, reflecting a 4.8% premium from the asset's December 2018 book value. The property is being sold to clients of CBRE Global Investors.

* U.K. property funds saw withdrawals of £185 million in July amid prospects of a no-deal Brexit after the replacement of Theresa May as prime minister, Property Week reported, citing Calastone's Fund Flow Index. A total of roughly £1.6 billion has been withdrawn from U.K. property funds since October 2018, the publication noted.

UK

* Citing real estate advisory firm Gerald Eve, PW reported that 43% of the 11.3 million square feet of office space under construction in central London has been pre-leased. The financing and banking sector accounted for 29% of all leases during the past six months, followed by media and technology tenants at 19%.

* The number of homes available for rent in prime central London locations fell 5.3% year over year during the second quarter and was down roughly 22% from the second quarter of 2016, London's Financial Times reported, citing LonRes research.

The decline has been attributed to tenants increasingly opting to renew leases and low sales of buy-to-let properties as buyers are pulling back amid falling property prices, the publication noted, citing Marcus Dixon, head of research at LonRes.

* Figures from mortgage lender Halifax revealed that British housing prices fell for the second month in a row in July, Reuters reported. The annual growth rate for the three months to July also experienced a sharper fall than expected, with the rate declining to 4.1% from 5.7%, the newswire noted.

* Construction Enquirer reported that Enfield Council has filed plans for the latest phase of the £6 billion Meridian Water scheme in London. The new phase will have 2,300 homes and has an option for student accommodation or shared living space and a hotel, along with commercial, retail and social infrastructure as well as a new primary school.

* M&G Real Estate bought the Exchange Plaza office building in Edinburgh for £54 million on behalf of an international investor, IPE Real Assets reported. The 100,000-square-foot property was placed on the market by Murray Capital.

Germany

* Europe Real Estate reported that pbb provided a €110 million financing to Belgium-based Immobel to develop the Eden residential tower in Frankfurt's Europaviertel quarter. The 15,000-square-meter, 27-story project will have roughly 263 condominiums and is slated for completion in 2021.

Spain

* U.S.-based industrial property giant Prologis Inc. agreed to buy 18 Spanish logistics properties from Inmobiliaria Colonial SOCIMI SA, IPE Real Assets reported. The transaction includes the immediate acquisition of 11 properties, totaling 314,000 square meters, and a call option for the remaining seven assets, totaling 159,000 square meters, over the next three quarters.

* Henderson Park has purchased the 139-room, 13-story Aloft Madrid Gran Via hotel in Madrid for €57 million, IPE Real Assets reported. The asset, which is managed under Marriott International's Aloft brand, was sold by Singapore-based SafeGuard Real Estate Management.

The Daily Dose Europe, Real Estate edition has an editorial deadline of 7 a.m. London time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.