Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAEWL.L Share News (AEWL)

  • There is currently no data for AEWL

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

CORRECT (Feb 25): AEW UK Long Lease Cuts Costs With New Appointments

Wed, 26th Feb 2020 11:40

(Correcting the share price of AEW UK Long Lease.)

(Alliance News) - AEW UK Long Lease REIT PLC said Tuesday a number of contractual changes means costs are set to be halved.

AEW UK Long Lease, a commercial property investor, has appointed Liverpool-based Mason Owen & Partners Ltd as its investment adviser from April 9, also taking the role of property manager from March.

Langham Hall Fund Management LLP will act as alternative investment fund manager, with King Capital Consulting Ltd appointed consultant portfolio manager.

London-based AEW UK Long Lease has picked Hanway Advisory Ltd as its company secretary, replacing Link Company Matters Ltd.

Lastly, Westlake Clark Ltd will become administrator, replacing Link Alternative Fund Administrators Ltd.

"The board's actions, together with the group's contracted rental income from our portfolio, enables the board to reaffirm its current target annual dividend of 5.5 pence per share but one that it expects will be on a fully cash covered basis from July 2020 with effect from the financial year commencing July 2020," said AEW UK Long Lease Chair Steve Smith.

"The board is confident the changes to the company's service providers will achieve a saving in the region of half of the company's historic level of recurring annual overhead cost, whilst potentially enhancing service levels."

"The company is now well-placed to deliver to our shareholders attractive, sustainable and fully cash-covered dividends over the short and longer term, together with the potential for income growth from its diversified portfolio of UK property investments, the majority of which are let on long leases that contain inflation-linked rent uplifts."

"The board, along with the group's advisers, is continuing to seek longer term solutions to expand the group, including the introduction of new capital, and to deliver further shareholder value," Smith continued.

AEW UK Long Lease shares were 0.3% higher on Wednesday morning at 74.22 pence each.

By George Collard; georgecollard@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
26 Feb 2020 10:56

AEW UK Long Lease's Net Asset Value Dips But Property Value Holds Firm

AEW UK Long Lease's Net Asset Value Dips But Property Value Holds Firm

Read more
25 Feb 2020 17:43

AEW Long Lease REIT Slashes Costs By Appointing New Partners

AEW Long Lease REIT Slashes Costs By Appointing New Partners

Read more
21 Feb 2020 16:06

UK Dividends Calendar - Next 7 Days

UK Dividends Calendar - Next 7 Days

Read more
19 Feb 2020 16:09

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

Read more
7 Nov 2019 16:10

UK Dividends Calendar - Next 7 Days

UK Dividends Calendar - Next 7 Days

Read more
5 Nov 2019 15:10

AEW UK Long Lease REIT To Engage With Shareholders On Chair Reelection

AEW UK Long Lease REIT To Engage With Shareholders On Chair Reelection

Read more
4 Nov 2019 18:22

AEW UK Long Lease Performance Remains "Robust" In Second Quarter

AEW UK Long Lease Performance Remains "Robust" In Second Quarter

Read more
29 Oct 2019 16:40

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

Read more
27 Sep 2019 10:07

AEW UK Long Lease REIT Achieves Dividend Target In Strong Year

AEW UK Long Lease REIT Achieves Dividend Target In Strong Year

Read more
8 Aug 2019 14:41

AEW UK Long Lease REIT Total Annual Dividend In Line With Policy

(Alliance News) - AEW UK Long Lease REIT PLC said on that it has declared a quarterly dividend that ensures it meets its annual target.The quarterly dividend of 1.375 pence per share will

Read more
7 Aug 2019 15:17

AEW UK Long Lease Rebuffs Acquisition Offers, Plans To Cut Costs

(Alliance News) - AEW UK Long Lease REIT PLC said on Wednesday that it is no longer in an offer period after several takeover discussions stalled.The real estate investment trust said none

Read more
17 May 2019 11:45

PRS REIT Appoints Jim Prower As Non-Executive Director

LONDON (Alliance News) - PRS REIT PLC on Friday said it appointed Jim Prower as non-executive director with effect from May 20.For the major part of his career, Prower was group finance at

Read more
16 May 2019 17:10

PRS REIT Appoints Empiric Director Prower As Non-Executive Director

LONDON (Alliance News) - PRS REIT PLC said Thursday it had hired Jim Prower as non-executive director of the real estate investment trust with immediate effect.Prower - a chartered - spent

Read more
9 May 2019 17:43

AEW UK Long Lease Dividend; Tenant Bought Out Of Administration

LONDON (Alliance News) - AEW UK Long Lease REIT PLC on Thursday declared an interim quarterly dividend of 1.375 pence per share and said one of its tenants has been bought out of dividend is May a

Read more
12

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.