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Pin to quick picksUrban Logistics Share News (SHED)

Share Price Information for Urban Logistics (SHED)

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Share Price: 114.40
Bid: 114.60
Ask: 115.00
Change: -1.00 (-0.87%)
Spread: 0.40 (0.349%)
Open: 115.00
High: 117.60
Low: 114.20
Prev. Close: 115.40
SHED Live PriceLast checked at -
Urban Logistics REIT is an Investment Trust

To invest in a diversified portfolio of well-located, fit-for-purpose last mile or regional logistics facilities in the UK and engage in active asset management to leverage and enhance returns.

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IN BRIEF: Urban Logistics to sell five assets for GBP30 million

Fri, 26th Mar 2021 13:39

Urban Logistics REIT PLC - London-based logistics-focused real estate investment trust - Exchanges contracts to sell portfolio of five assets for GBP30.0 million to a joint venture between the Carlyle Group and ARA Dunedin. The assets are located in Bedford, Leicester, Chesterfield and Northampton, where it has sold two warehouses. Says completion is expected on April 21, and it has undertaken extensive asset management with new rents and lease terms agreed across all sites.

"Since we started out on our journey in 2016, we have achieved considerable success creating, then realising value across our portfolio once available asset management initiatives have been completed. This deal is the latest example of our proven track record of value creation. The funds realised from these sales will be quickly redeployed in acquiring further assets from our pipeline," says Chief Executive Richard Moffitt.

Current stock price: 148.84 pence

Year-to-date change: up 4.1%

By Zoe Wickens; zoewickens@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Custodian amends terms and reaffirms commitment to abrdn merger

(Alliance News) - Custodian Property Income REIT PLC on Wednesday said that it believed the proposed merger with abrdn Property Income Trust Ltd had a "compelling strategic and financial rationale", as the pair agreed to extend the merger commitment date to Friday.

Custodian and abrdn are real estate investment trusts with a portfolio of properties in the UK.

In January, the pair agreed terms for an all-share merger, which would create a real estate investment trust with combined assets totalling GBP1.0 billion.

Per the agreement, abrdn Property Income shareholders will receive 0.78 new Custodian shares for each share in the company.

On Tuesday, Custodian reaffirmed its belief that the merger holds a "compelling strategic and financial rationale".

The company said that it would be waiving its one-off project fee in connection with the merger, which amounted to GBP350,000.

Custodian also announced a reduction in the management fees payable to its investment manager, Custodian Capital Ltd, for a period of two years following the merger's completion. This fee will now calculated as 0.75% of the combined group's net asset value less than or equal to GBP500 million, changed from 0.9% in respect of NAV up to GBP200 million and 0.75% up to GBP500 million.

Custodian said that thesee amendments "reinforce the financial rationale of the recommended merger and represents further alignment between CREI, Custodian Capital and the shareholders of the combined group".

Custodian urged abrdn shareholders to not take action regarding the separate offer by Urban Logistics REIT PLC for abrdn. In February, Urban Logistics offered abrdn shareholders 0.47 of its shares for each share in the company. Shares in Urban Logistics are currently flat at 118.00 pence each in London on Wednesday.

In a separate announcement, abrdn said that the deadline for Custodian to make a firm intention to continue with the merger or confirm that it does not want to participate in the scheme has been extended to Friday at 5pm. Both abrdn and Custodian have agreed to these terms.

Shares in Custodian were down 1.3% at 77.00 pence each. Shares in abrdn were down 0.2% at 55.00 pence each, both in London on Wednesday.

By Hugh Cameron, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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23 Feb 2024 09:21

Urban Logistics given March deadline for making API decision

(Alliance News) - Urban Logistics REIT PLC on Friday said it has until March 15 to "clarify its intentions" with abrdn Property Income Trust Ltd.

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Urban Logistics approaches abrdn Property Income with "superior" offer

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17 Jan 2024 10:34

IN BRIEF: Urban Logistics says demand still outstripping supply

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17 Jan 2024 09:02

Urban Logistics reports jump in demand, rise in rental income

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