* Landsec reported a £42 million of pretax profit in the six months ended Sept. 30, from the £34 million recorded in the year prior. Adjusted EPS was up 17.9% year over year to 30.3 pence from 25.7 pence.
* Tsogo Sun Holdings Ltd. terminated the planned sale of a seven-casino property portfolio in South Africa to Hospitality Property Fund due to lack of support from its shareholders. The company had agreed in July to divest the properties in a deal worth 23 billion rand.
UK
* Nextday Property Ltd., which does business as Nested, secured £100 million of debt finance from an institutional investor and raised £20 million in equity finance from European venture capital firms Northzone and Balderton Capital. The online real estate valuation services provider will use the proceeds to scale in and beyond London and to launch various customer tools and services.
* Flexible workspace provider WeWork Cos. Inc. entered into a lease deal for the entire Friars Bridge Court building in London's Southbank district, where it plans to move in early 2021, Property Week reported. Kennedy Wilson Europe owns the building, which will go through a complete revamp before the new tenant moves in.
* LabTech launched plans to develop a 580,000-square-foot mixed-use development in Camden to deliver 150 stores, more than 60 food outlets, 195 apartments and 60,000 square feet of Labs co-working space, PW reported. The company tapped Colliers International to secure more than 200 occupiers for the retail and leisure areas of the Hawley Wharf Camden.
* Cushman & Wakefield is set to market some 160,000 square feet of prime office space across the first four floors of the Shell Mex House building at 80 Strand in London, PW reported. The space will be extensively renovated after its tenant Shell leaves the premises in 2020.
* Housing association One Housing is searching for a joint venture partner for the £410 million redevelopment of two adjacent estates at Camden Lock in north London, Construction Enquirer reported. Plans for the project involve up to 700 homes and 300,000 square feet of shopping space at the Juniper Crescent and Gilbeys Yard estates.
* In the draft City Plan 2019-2040, the Westminster City Council in London aims to add 1,495 affordable homes in the borough each year by proposing that developers of large hotel and office project incorporate affordable residential units in their plans, PW reported. The council has called on the developers of less than 10,800 square feet to contribute to the Affordable Housing Fund instead.
* London-based alternative asset manager Cheyne Capital Management (UK) LLP's £600 million real estate debt fund has injected £50 million into Backhouse to help the British homebuilder deliver 500 houses each year by 2022, IPE Real Assets reported. Cheyne Real Estate Credit Fund V made the investment in the form of a joint venture, according to the report.
Germany
* Corestate Capital Holding SA launched an open special alternative investment fund that will invest in the residential and commercial real estate sectors, targeting a volume of €800 million and a return of 7%. The investment vehicle holds an initial portfolio of seven properties with an investment volume of €241 million.
* Fund manager Corpus Sireo and Addvalue Capital have partnered to form the Belvita Invest platform, targeting care homes and assisted living facilities in Germany, Property Investor Europe reported. The platform will deliver care homes in towns with more than 15,000 residents, with an eye on properties
France
* On behalf of an unnamed institutional investor, PGIM Real Estate paid an undisclosed sum to acquire a 100,000-square-meter logistics property in Salon-de-Provence, IPE Real Assets reported. French retailer Carrefour fully occupies the property, with about eight years remaining in the lease.
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