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* According to real estate firm Savills PLC, Scotland is on track to record its best-ever year of inward investment for commercial real estate, having attracted more than £500 million of international capital in the first half of 2019, Europe Real Estate reported. International investors were responsible for 49% of the investments made in Scotland during the period, with Asian investors accountable for roughly £240 million.
South Korean investors pumped over £200 million into Scotland, while European investors invested about £200 million, the publication said.
* Capital & Regional PLC said it is in talks with South Africa-listed Growthpoint Properties Ltd. regarding the latter's acquisition of a majority stake in the U.K.-based retail real estate investment trust. The stake acquisition would be in the form of a combination of a partial offer in cash for Capital & Regional shares and a capital injection through a subscription for new shares in the REIT.
As per disclosure requirements, Growthpoint is required to either announce a firm intention to make an offer or announce that it does not intend to do so by no later than Oct. 9.
UK and Ireland
* According to Property Week, Chinese developer Advanced Business Park is still committed to the £1.7 billion redevelopment of Royal Albert Dock in east London and is willing to invest in the project even if Britain finalizes its exit from the EU. Advanced Business Park Chairman Xu Weiping said the company was working on plans to pitch the scheme as a free port trade area to the British government.
The first phase of the project, which consisted of a £400 million investment in 460,000 square feet of offices across 21 buildings, has been completed, while Advanced Business Park is hopeful of starting work on the second phase by the end of 2020. The company already has planning permission for phase two and hopes to acquire planning consent over the coming six months.
Xu added that the company was in talks with Asian firms such as Huawei Technologies Co. Ltd. to take space at the London scheme, according to the PW report.
* Green REIT PLC scheduled a shareholder meeting for Oct. 7 to vote on the company's proposed sale to Henderson Park Real Estate Management Ltd. Under the deal terms, Green REIT shareholders will be entitled to receive €1.9135 in cash for each share, valuing the company's entire issued and to be issued share capital at approximately €1.34 billion. The companies earlier said the deal is expected to be implemented in November.
* An independent committee of Atrium European Real Estate Ltd.'s board backed Gazit-Globe Ltd.'s all-cash buyout offer for the company in absence of a superior bid during a go-shop period. Atrium noted that 35 potential investors were contacted, but no offers were received for the company. Earlier in July, majority shareholder Gazit-Globe agreed to a buyout deal for Atrium, offering €3.75 per share.
* According to Property Magazine International, Hammerson PLC submitted plans for a housing development on a site known as Building 5, close to the Sandyford road entrance of the Dundrum Town Centre Red Car Park in Ireland. The application was made on behalf of the Dundrum Retail LP. The proposed residential development will consist of 107 apartments for long-term rent and a ground floor cafe.
Germany
* Henderson Park, in partnership with German property group HBB, acquired the 31,000-square-meter Rathaus Galerie shopping center in Essen for an undisclosed sum, IPE Real Assets reported. Henderson Park is the majority partner in the 80%-let asset, which will be managed by HBB.
* According to Europe Real Estate, Garbe Industrial Real Estate acquired a 34,000-square-meter undeveloped property in Worth an der Isar for an undisclosed sum. The asset will be used for the construction of a multi-use property with a total rentable area of 14,500 square meters. The property is being built to the west of Wörth city center in the Moospoint industrial estate and has a planned hall area of 13,000 square meters in addition to an office and social rooms.
* Allianz Real Estate, on behalf of a joint venture involving Bayerische Versorgungskammer, acquired an office development in Berlin, IPE Real Assets reported. Allianz Real Estate will forward fund the EDGE East Side Berlin and manage the investment, while German pension fund BVK, which is investing through Universal-Investment, will own half of the joint venture.
Other real estate news
* Swiss flexible workspace provider IWG PLC is engaged in discussions with investment banks about a possible sale of its Canadian operations, Bloomberg News reported, citing a person with knowledge of the matter. IWG plans to include its Regus and Spaces brands as well as the rights to open new locations under these brands in the potential sale and would continue to receive a portion of revenue from the businesses, according to the person.
* The board of directors of Grit Real Estate Income Group is seeking shareholders' approval to issue up to 280 million ordinary no par value shares in the company's issued share capital, subject to market conditions. Grit will also seek shareholders' approval for Samuel Jonah's appointment as a nonexecutive director on the company's board.
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