Share Name Share Symbol Market Type Share ISIN Share Description
Aberdeen Stand. LSE:ASLI London Ordinary Share GB00BD9PXH49 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50p -0.47% 107.00p 106.00p 107.50p 107.50p 105.00p 105.00p 80,143 16:35:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 200.63

Aberdeen Stand. Share Discussion Threads

Showing 26 to 49 of 50 messages
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DateSubjectAuthorDiscuss
01/10/2018
12:15
Outlook (from Investment Manager's Report) Demand drivers remain strong. Imports continue to rise while labour markets are tightening through six consecutive years of sustained employment growth. Such has been the growth in demand that some contract logistics providers are reporting capacity constraints, operating with very low levels of idle warehouse space - some with as little as 2% spare capacity. E-fulfilment space continues to be sought and, notably, Alibaba has leased its first unit in Germany and is reportedly looking for additional space in Europe. With estimated quality European logistics vacancies falling below 5% in Q2 2018 this reduction in vacancy rate reflects strong take-up activity and relatively limited new speculative development. Net operating income should grow as occupancy rates rise, inflation comes through in indexation in lease terms and headline rents continue to edge upwards in supply constrained markets. We are forecasting unleveraged logistics total returns to reach mid-high single digits per annum over the next 3 years. There is no doubt, however, that yields in certain countries have seen increased compression with the very strong weight of capital targeting distribution warehouse assets. While the overall prognosis for logistics is positive, we believe that there will be a growing differentiation between different types of logistics property. The changing drivers of demand, be it shorter supply chains resulting from greater mechanisation in the manufacturing process, or the growth in business to consumer e-commerce, will have a differentiating influence on the demand for different types of space - and ultimately income growth prospects for investors. While the 'big-box' international supply chain structure remains very valid, the demand for last-mile distribution is changing rapidly. The growing requirement from consumers to receive items within 24 hours of ordering has driven increasing demand for distribution space close to large conurbations. Careful attention will need to be paid to units which constitute suitable urban logistics locations, with even ageing stock likely to be attractive to tenants and investors if the location is good enough. In contrast, given the growing cost pressures for contract logistics providers, increasing focus will be on the location and structural suitability of units in more peripheral locations with transport and fuel costs rising. Furthermore, we remain focussed on environmental concerns which are rightly becoming more important to local government decision making. We expect that certain investors will avoid inefficient units in naturally sensitive areas. In time, these are likely to be penalised through a lack of tenant demand, levies on landlords owning vacant property and legislative requirements to improve inefficient properties before they can be let, as is the case in the UK.
speedsgh
01/10/2018
12:14
HALF YEARLY REPORT FOR THE PERIOD ENDED 30 JUNE 2018 - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/half-year-report/201809270700100828C/ Outlook (from Chairman's Statement) The Company has acquired or contracted to acquire five properties which are either closed and income producing (Flörsheim and Ede) or have SPAs signed where the Company is awaiting final closing depending on the delivery date of these new projects (Erlensee, Leon and the French asset). The Company has also entered exclusivity and is in due diligence on four further transactions representing a total value of over €100 million. At the same time the Company is involved in the bidding process on several others. The Board has been pleased with the deployment of capital into quality assets across Europe underlining the Investment Manager's capacity to execute such a pan-European strategy thanks to its local offices across all main investment markets in Europe. The Investment Manager's strong pipeline gives confidence that the portfolio will be fully invested within the estimated 12 month timeframe. The Board and the Investment Manager believe the medium to long term outlook for the logistics sector remains very favourable. Given the strong tailwinds from healthy economic output and structural shifts in consumption patterns, demand drivers are likely to remain supportive, while construction levels remain relatively low. Development finance is still a barrier to a substantial increase in construction, while investors are more cautious of large scale speculative development projects. Shareholders will be aware that the Company's prospectus contained details of a placing programme that will expire on 16 November 2018. The Board continues to consider the timing of a further fundraising and, in particular, whether a subsequent issue of new shares in this timeframe would be sufficiently beneficial to existing shareholders. The Board is pleased with the current investment programme and the quality and diversity of the portfolio that our Investment Manager is constructing. However, it is the Board's desire to see the Company grow sensibly in size and it will continue to monitor the conditions required, including yields, quality and outlook for the sector...
speedsgh
05/9/2018
15:10
so far good here in this yo yo mkt.
jaws6
05/9/2018
15:01
First Interim Dividend - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/first-interim-dividend/201809051339148820Z/ The Directors have today declared a first interim dividend of 0.7p per Ordinary share, in respect of the period from initial launch to 30 June 2018. This is in accordance with the intention stated in the IPO Launch Prospectus to target a first dividend of no less than 0.7p per Ordinary Share in respect of the period from initial admission of the Company's Ordinary shares to the Official List of the UK Listing Authority (being 15 December 2017) to 30 June 2018. The first interim dividend will be paid on 28 September 2018 to Ordinary shareholders on the register on 14 September 2018 (ex dividend date of 13 September 2018). The Company intends to declare quarterly dividends to Shareholders, with dividends declared in respect of the quarters ending on the following dates: 31 March, 30 June, 30 September and 31 December in each year. The Company expects to pay, in aggregate, dividends totalling no less than 3.0p per Ordinary Share in respect of the period from initial admission to 31 December 2018. The Company will be publishing the Half Yearly Results for the period from launch to 30 June 2018, including an update on the portfolio, in the week commencing 24 September 2018.
speedsgh
24/8/2018
13:20
Hi Berkshire. You have a point re the costs etc but these guys know what they are doing. It is a European version Tritax Bbox which has performed excellently so I have confidence in these guys. BBOX went from 100 to 150 and I have been reinvesting divis all the way along. This low income rate environment will last quite a while and income hungry investors love the visibility. I think this has further to go.
mach100
21/8/2018
10:14
European logistics yield falls below 6% for first time on record - HTTP://www.commercialnewsmedia.com/archives/79601 The overall European logistics yield dropped 14bps to 5.95% in Q2 2018, the first time it has fallen below 6% since Cushman & Wakefield began consistently tracking the three main property sectors in 1992, according to the firm’s DNA of Real Estate report. All logistics markets monitored in Germany, Italy and Sweden recorded inward yield movements during the second quarter, and a couple of UK locations also contributed to the overall shift down to 5.95%. About a third of the monitored office locations saw some yield compression with a prime weighted average down from 4.49% to 4.42%. In contrast, high street retail yields softened in a few locations and the overall prime yield moved out by 1bps to 4.19%. Despite the fall in the prime logistics yield below 6%, the gap relative to office and retail is still higher than in the previous cycle. Office rents grew at a robust rate of 0.8% q-o-q with several markets – across different countries and regions in Europe – seeing increases up to 5%. Limited rental growth was recorded in the retail sector while rental correction in Turkey offset this growth, resulting in the weighted average rent 0.1% lower than the first quarter... Logistics Five out of the 45 monitored logistics markets saw some rental growth and all other markets remained flat in Q2. Manchester recorded solid growth of 16.7% q-o-q and 25% y-o-y supported by major leasing transaction activity this quarter. Elsewhere, pockets of growth were found in Helsinki (+4.3%), Budapest (+3.9%) and Rome (+3.8%). Average yield fell by a substantial 14bps q-o-q and 42bps y-o-y which is the largest annualised reduction in the past nine quarters. Logistics yields fell in 15 out of the 45 monitored markets including all locations in Germany, Italy and Sweden. Benelux and CEE markets, on the other hand, had less substantial yield compression. Lisa Graham, Head of EMEA Industrial and Logistics Research & Insight, Cushman & Wakefield, added: “Logistics properties have increasingly become a desirable asset for real estate investors on the back of the growth for e-commerce and the streamlining of supply chains, and now account for a growing share of investment activity supporting a strong reduction in yields over this period. Yields in almost all monitored markets are at their 10-year low, although we believe there is still room for further downward movement in selected markets during the second half of the year.”...
speedsgh
13/8/2018
09:32
Net Asset Value as at 30 June 2018 - HTTPS://uk.advfn.com/stock-market/london/aberdeen-stand-ASLI/share-news/Aberdeen-Standard-Eur-Lgstc-Inc-PLC-Net-Asset-Valu/78056575 Aberdeen Standard European Logistics Income PLC announces its unaudited quarterly Net Asset Value ("NAV") as at 30 June 2018. Highlights -- NAV per share of EUR1.11 (31 March 2018 - EUR1.11) as at 30 June 2018 (GBP - 98.3p, 31 March 18 GBP- 97.4p) -- On 8 June, the Company announced that it has exchanged contracts to acquire a new development in a modern logistics hub located in Erlensee Langendiebach, Frankfurt for an expected net value of EUR33.3 million (subject to final rental conditions and full occupancy) from regional developer Ferdinand Fäth. Gross initial yield is 5.1% reflecting forecast passing rent and full occupancy. The target date for completion is end October 2018. An earn-out agreement means that the Company will pay the purchase price, based on the effective letting of the building, after completion of the construction works with a minimum occupancy rate to be delivered by the developer which has already signed lease agreements with two high quality tenants. Full take-up is expected for this prime asset by or around the time of completion. -- Post the period end three other assets have been acquired: o Conditional contracts to acquire a new freehold distribution warehouse in France, for an expected net value of EUR44.5 million at a gross yield of 5.29%. The property is fully leased out on a firm 9 years lease (fully indexed) to a leading supermarket chain in France. Contracts are expected to become unconditional by no later than 30 October 2018. o A new logistics warehouse in the North of Spain for a net value of EUR15.3 million. The warehouse is currently under development with completion expected by mid-2019. On completion, the property will be fully let to a large international retailer on a fixed ten year lease with annual CPI indexation. The gross yield is 6.9%. o A 39,840 square metres freehold logistics warehouse in Ede, Netherlands for a net value of EUR26.5 million from David Hart Group. A fully CPI-indexed lease has been signed with Dutch retail and pharmacy operator Kruidvat (part of the A S Watson Group) which commenced on 1 August 2018 for a period of 10 years (with no break option). A large part of the warehouse will be used to expand the company's growing e-commerce business. The estimated gross yield on the property is 6.3%. -- Continued strong demand for the Company's shares. As at 31 July 2018 the share price was GBP1.075p - a premium to the 30 June 2018 NAV of 9.4%. Investment Manager Commentary We are on course to invest the proceeds from the Initial Public Offering ("IPO") by the end of the year, as we indicated in the IPO prospectus, with a number of assets in advanced stages of due diligence or in the pipeline. In addition we are already considering our debt options in order to fund additional acquisitions once the IPO proceeds have been fully utilised. We believe the medium to long term outlook for the logistics sector remains very favourable. Given the strong tailwinds from healthy economic output and structural shifts in consumption patterns, demand drivers are likely to remain supportive, while construction levels remain relatively low. Development finance for speculative developments is still a barrier to a substantial increase in construction. Yields have compressed sharply, but we expect further compression over the next 12 to 24 months. Net operating income should grow as occupancy rates rise, inflation comes through in indexation in lease terms and headline rents continue to edge upwards in supply constrained markets. We forecast logistics total returns to reach mid-high single digits per annum over the next 3 years...
speedsgh
09/8/2018
12:36
It's great to see that ASLI has now invested in 5 assets. Does anyone else harbour some concern about the gross yields that are being achieved on them? They all seem to be in the 6-7% range. Assuming 1-1.5% of costs, weighted average debt costs of, say, 3.5%, and gearing of 50%, I struggle to see how they can achieve an equity yield higher than about 6.5%. That doesn't take into account all the other costs associated with running the trust (professional fees, board costs, investment management fees). Given they're all brand new assets with new leases to tenants, there's going to be minimal opportunity for active management of the properties, so I'm struggling to see how they're going to generate decent returns, and therefore don't feel the current premium is justified.
berkshires thataway
06/8/2018
16:31
Acquisition of Fifth Asset Following IPO - HTTPS://www.investegate.co.uk/aberdeen-stand-euro-/rns/acquisition-of-fifth-asset-following-ipo/201808060922349103W/ The Company is pleased to announce that it has signed an agreement to acquire a freehold logistics warehouse in Ede in the Netherlands for a net value of €26.5 million from David Hart Group. A fully CPI-indexed lease has been signed with Dutch retail and pharmacy operator Kruidvat (part of the A S Watson Group) which commenced on 1 August 2018 for a period of 10 years (with no break option). A large part of the warehouse will be used to expand the company's growing e-commerce business. The estimated gross yield on the property is 6.3%. Ede, which has over 110,000 inhabitants, is centrally located in the Netherlands and is well positioned for national distribution. The proximity of major roads and railways offers fast connections to the Port of Rotterdam, Schiphol airport and the Ruhr area in Germany. The site is easily accessible by road thanks to its location alongside the A12 Rotterdam to Germany autoroute and the A30 to the north. The property is located on the Heestereng Business Park, a large mixed use site encompassing logistics, wholesale and production companies. Examples of Third Party Logistics or 3PL operators located there are DB Schenker, Van de Hoef Logistiek and Alon Logistiek. Ede is also well-known as the "Food Valley" in the Netherlands with a high concentration of science, business and research institutes in the region with a focus on food. Wageningen University & Research is the expertise heart of this strong region, and companies like Unilever and Friesland Campina have their R&D divisions there. The opening of the World Food Centre in Ede in mid-2020 will improve this position with this specialist economic cluster of businesses serving as a magnet for further activity. The property itself, which has recently undergone improvement works, has a total area of 39,840 square metres comprising warehouse and mezzanine space and an office building with 90 dedicated parking spaces. Specifications are very modern with eaves height of 12.2 meters, 18 docks and 5 ground level doors. The warehouse separately has 200 parking places on site together with extensive trailer parking. Evert Castelein, the Company's Fund Manager, commented: "The deployment of capital into quality assets in France, Germany, Spain and now the Netherlands underlines the diverse nature of the portfolio which we are creating by investing across Europe. Following the two acquisitions in Germany and recent announcements regarding the purchase of properties in Avignon (France) and Leon (Spain), this purchase means that we have now committed capital to purchase five assets totalling over €139 million. Negotiations remain ongoing to acquire further properties in Germany and Sweden representing further investment volume of approximately €70 million, whilst the pipeline of opportunities remains strong. We are extremely pleased to have signed this latest purchase agreement for this logistics asset, which is located in a central position in the Netherlands. This property will generate a strong, sustainable and indexed income stream thanks to the quality of the location, the modern specifications of the asset and the long-term lease."
speedsgh
26/7/2018
16:56
Acquisition of Fourth Asset Following IPO - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/acquisition-of-fourth-asset-following-ipo/201807261111408874V/ ACQUISITION OF NEW ASSET - LEON, NORTHERN SPAIN FOR €15.3 MILLION The Company is pleased to announce that it has signed an agreement to acquire a new logistic warehouse in the North of Spain for a net value of €15.3 million. The warehouse is currently under development with completion expected by mid-2019. The property is located in a logistics park near Leon city centre and airport with excellent connections to the AP71, A66 and A231 highways. Other large occupiers of this park include the Spanish supermarket chain Mercadona and the global wind power solutions provider Vestas. Other nearby occupiers are Inditex, Schenker, K+N and TNT. The total size of the property once completed will be approximately 32,600 square metres. This will be a state-of-the-art quality asset with 28 loading docks and a 5 tonne floor load capacity. The property comprises three modules and allows for flexibility to convert into a multi-tenant facility if required in the future. On completion, the property will be fully let to a large international retailer on a fixed ten year lease with annual CPI indexation and the net yield is expected to be 6.0%. Under the terms of the lease, the lessee retains a right to call for the expansion of the logistic premises, up to an additional 10,020 square metres gross leasable area, thereby creating further potential upside for ASLI. Evert Castelein, the Company's Fund Manager, commented: "We are very happy to have signed a purchase agreement for this project, which is located in an ideal position in the North of Spain. This property will be able to generate a sustainable and indexed income stream thanks to the quality of the location, the modern specifications of the asset and the long-term lease. The signing of this latest agreement, following the announcement regarding the purchase of a property in Avignon, France, yesterday, means that we have now committed capital to purchase four assets across Europe totalling €113 million. We are currently in negotiations with vendors to acquire further properties in Sweden and The Netherlands representing a further investment volume of approximately €97 million. The deployment of capital into quality assets so far in France, Germany and Spain underpins our desire for a diverse portfolio invested across Europe and the pipeline of opportunities remains strong."
speedsgh
25/7/2018
18:19
Acquisition of Third Asset Following IPO - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/acquisition-of-third-asset-following-ipo/201807251222307495V/ ACQUISITION OF NEW DISTRIBUTION CENTRE IN FRANCE FOR €44.5 MILLION The Company is pleased to announce that it has exchanged conditional contracts to acquire a new freehold distribution warehouse in France, for an expected net value of €44.5 million. Contracts are expected to become unconditional by no later than 30 October 2018. The newly-built facility is let to a strong tenant on a fully indexed twelve year lease and is well positioned in an excellent location with the versatility required to move to a multi-tenant scenario if needed in the future. Further details shall be released when contracts become unconditional. Evert Castelein, the Company's Fund Manager, commented: "We are delighted to have exchanged contracts for this state-of-the-art logistics asset which is located in a strategic position in France. The high-quality specification makes this a very desirable asset. This investment will give us exposure to the French logistics market in a fast-growing region, in an industry that leads regional economic growth and with a strong tenant and a state of the art quality building, which is very well connected to major motorways. The asset will provide a durable income stream. We continue to see healthy deal flow and are currently in negotiations with vendors to acquire further properties in Spain, Sweden and The Netherlands representing a further investment volume of over €110 million. We remain very pleased with the phased deployment of capital to date into what we consider to be a quality and well diversified portfolio of logistic assets."
speedsgh
08/6/2018
10:09
Acquisition of Second Asset Following IPO - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/acquisition-of-second-asset-following-ipo/201806080829427643Q/ 'ZUM FLIEGERHORST 1304' LOGISTICS DEVELOPMENT, ERLENSEE FOR €33 MILLION The Company is pleased to announce that it has exchanged contracts to acquire a new development in a modern logistics hub located in Erlensee Langendiebach, Frankfurt for an expected net value of €33.3 million (subject to final rental conditions and full occupancy) from regional developer Ferdinand Fäth. The acquisition will be funded from existing cash, following the successful launch of the Company in December 2017, with completion expected in September 2018. This freehold property development is expected to be completed in September and will consist of two modern multi-let logistic buildings. It is located within the emerging logistics and distribution hub of Erlensee, on the outskirts of Frankfurt in the prosperous Rhine/Main region, the third largest metropolitan region in Germany with 5.8 million inhabitants. The redevelopment of this former US air base is proceeding at pace. The location's quality has already been recognised by a number of major companies including DS Smith, Dachser Logistics and Wilhelm Brandenburg, the largest meat processing company in the region, with plans for a major facility servicing REWE the German supermarket group. It is expected to become one of the major logistics hubs in the region benefitting from an excellent road infrastructure serviced by the A45 and A66 motorways in the north east of Frankfurt and in the south by the A3 motorway, as well as having direct access to the Frankfurt metropolitan area. This development fits well with the Company's investment strategy given the modern and flexible specifications of the buildings and the central location. The buildings comprise a total lettable area of approximately 26,395 square metres featuring high quality construction and institutional grade specifications including a total of 50 loading doors. Net initial yield is expected to be in the region of 5.4% reflecting forecast passing rent and full occupancy. An earn-out agreement means that the Company will pay the purchase price, based on the effective letting of the building, after completion of the construction works with a minimum occupancy rate to be delivered by the developer which has already signed lease agreements with two high quality tenants. Full take-up is expected for this prime asset by or around the time of completion. Evert Castelein, the Company's Fund Manager, commented: "We are extremely pleased with this premium development opportunity which we expect to close in September 2018. With the support of our local Frankfurt based asset management team we are confident that we can generate a solid and sustainable income stream from an asset located in an area in which we see strong demand for modern, best in class logistics facilities. Our pipeline of investment opportunities remains strong across Europe. A number of further properties are undergoing due diligence or have price agreements in place and announcements will be made at the appropriate time. We remain confident that the deployment of capital is proceeding as planned as we continue to build a well-diversified portfolio of high quality European logistics properties aiming to be fully invested within twelve months of launch."
speedsgh
08/5/2018
08:47
Net Asset Value as at 31 March 2018 - HTTPS://uk.advfn.com/stock-market/london/aberdeen-stand-ASLI/share-news/Aberdeen-Standard-Eur-Lgstc-Inc-PLC-NAV-as-at-31-M/77363949 Highlights -- NAV per share of EUR1.11 as at 31 March 2018 (GBP - 97.4p). -- The Company has acquired Flörsheim Logistics Park, Frankfurt for a net value of EUR20.1 million from SEGRO Zehnte Grundbesitz GmbH. Made up of two high quality logistics warehouses newly constructed in 2015, this is a modern, multi-let freehold asset providing flexible accommodation for occupiers. Flörsheim is fully let to five logistic tenants and benefits from almost full annual rent indexation (CPI) and a weighted average unexpired lease term excluding breaks (WAULT) of 7.6 years with a current net yield of 5.0%. -- Continued strong demand for the Company's shares. As at 30 April 2018 the share price was 105.5p - a premium to the 31 March NAV of 8.3%. -- The Company cancelled its share premium account, creating a new special reserve containing distributable profits. This new reserve may be used by the Company to fund, amongst other things, dividend payments and share buybacks. The cancellation took effect from 16 March 2018. Investment Manager Commentary The Investment Manager remains confident in the broad and consistent pipeline of logistics asset opportunities across Europe accessed through its established platform, local offices and wide-ranging relationships. We have recently entered into heads of terms granting exclusivity on behalf of the Company over the acquisition of two European logistics assets valued at EUR48.5 million in aggregate, and we have several other bids pending with an aggregate value of over EUR130 million. The Company will issue further announcements providing additional details in the event that the relevant bids are successful, due diligence is completed satisfactorily and contracts are exchanged. We remain pleased with the pipeline and the opportunities seen across the region. Portfolio construction remains an essential tenet of the investment process, with an initial focus on major logistics hubs and 'last mile' facilities. The logistics sector continues to offer yields which provide a significant premium over current financing costs, and tenants that include financially robust major retailers, e-commerce businesses, distribution specialists and manufacturers. The rapid growth of e-commerce, supply chain reconfiguration amongst existing operators and increased globalisation of traded goods are continuing trends creating demand for high quality modern facilities, often in densely populated areas where land is scarce, offering the opportunity to secure indexed leases and capital growth. We believe the medium to long term outlook for the logistics sector remains very favourable. Given the strong tailwinds from healthy economic output and structural shifts in consumption patterns, demand drivers are likely to remain supportive, while construction levels remain relatively low. Development finance is still a barrier to a substantial increase in construction. Net operating income is expected to grow as occupancy rates rise, inflation comes through in indexation in lease terms and headline rents continue to edge upwards in supply constrained markets...
speedsgh
23/3/2018
18:13
Share Premium Account Cancellation and Investment Update - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/investment-update---share-premium-cancellation/201803231100027650I/ Share Premium Account The Board of Aberdeen Standard European Logistics Income PLC (the "Company") hereby announces that, as envisaged in the IPO prospectus of last November, the Company has now cancelled its share premium account so as to create a new special reserve containing distributable profits. This new reserve may be used by the Company to fund, amongst other things, share buybacks. The cancellation took effect from 16 March 2018. Investment Update The Board is also pleased to confirm that the acquisition of the Flörsheim Logistics Park, Frankfurt, for €20.1 million has now completed, with rental income being received from 1 February 2018. Flörsheim is fully let to five logistic tenants, benefits from almost full annual rent indexation (CPI) and fits well with the Company's investment strategy. The Investment Manager remains confident in the pipeline of logistics asset opportunities, having recently entered into exclusivity arrangements in respect of two European logistics assets valued at €48.5 million in aggregate, and with several other bids pending. The Company will issue a further announcement providing additional details in the event that the relevant bids are successful and contracts are exchanged.
speedsgh
09/1/2018
08:56
Acquisition of First Asset Following IPO (8/1) - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/acquisition-of-first-asset-following-ipo/201801081555102712B/ The Company is pleased to announce that it has exchanged contracts to acquire Flörsheim Logistics Park, Frankfurt for a net value of €20.1 million from SEGRO Zehnte Grundbesitz GmbH. The acquisition will be funded from existing cash, following the successful launch of the Company on Friday 15 December 2017, with a deal closing expected towards the end of January 2018. This first investment fits well with the investment strategy given the modern and flexible specifications of the building and the central location in the Frankfurt Rhine-Main area, one of Germany's strongest economic regions with almost 6 million inhabitants. The park is strategically located just five kilometres south west of Frankfurt airport alongside the A3, one of Germany's main cross border motorway routes. Total property size is 17,809 square metres comprising two high quality logistics warehouses newly constructed in 2015 on freehold ground. Flörsheim is fully let to five logistic tenants and benefits from almost full annual rent indexation (CPI) and a weighted average unexpired lease term (WAULT) of 5.5 years. Evert Castelein, the Company's Fund Manager, commented: "We are very pleased with this first acquisition by the Company. With the support from our local Frankfurt based asset management team we are confident that we can generate a durable income stream from this asset and remain confident about the pipeline of further investment opportunities."
speedsgh
03/1/2018
13:13
good rise today 104.5
jaws6
29/12/2017
13:06
riverman, with the assets and rent being in euros, that is the hedge against a sterling fall. What is needed is a hedge against sterling rising, which kinda defeats the objective for me of being invested abroad, so I hope they don’t hedge against a euro fall.
greatgiginthesky
22/12/2017
10:11
Tick better at last.
jaws6
18/12/2017
11:05
Https://whichinvestmenttrust.com/aberdeen-standard-european-logistics-income-raises-187-5m/
jaws6
15/12/2017
17:30
It is my understanding that they hedge the currency - might have got that wrong, but I would check if you want this to provide hedge against sterling fall . Personally I am in SERE which doesn't hedge, is on a 8% discount and has recently stated its intention to move more into logistics (currently mainly offices and retail)
riverman77
15/12/2017
16:48
Welcome, LG. Good to have you here :o)
speedsgh
15/12/2017
16:31
Greetings speedsgh. Thanks for setting up the thread. One to watch for me for the time being. I may get lucky if it dips below the launch price on a bad day for the market.
lord gnome
15/12/2017
15:29
Director/PDMR Shareholding (15/12/17) - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/director-pdmr-shareholding/201712151208485238Z/ MR PASCAL DUVAL (NON EXECUTIVE DIRECTOR) bought 30,000 @ 100p = £30,000 Director/PDMR Shareholding (15/12/17) - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/director-pdmr-shareholding/201712151209485242Z/ MR JOHN HEAWARD (NON EXECUTIVE DIRECTOR) bought 20,000 @ 100p = £20,000 Director/PDMR Shareholding (15/12/17) - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/director-pdmr-shareholding/201712151209585240Z/ MS CAROLINE GULLIVER (NON EXECUTIVE DIRECTOR) bought 25,000 @ 100p = £25,000 Director/PDMR Shareholding (15/12/17) - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/director-pdmr-shareholding/201712151210495243Z/ MR TONY ROPER (NON EXECUTIVE DIRECTOR) bought 30,000 @ 100p = £30,000 Director/PDMR Shareholding (15/12/17) - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/director-pdmr-shareholding/201712151211555244Z/ MS DIANE WILDE (NON EXECUTIVE DIRECTOR) bought 20,000 @ 100p = £20,000
speedsgh
15/12/2017
15:23
!FOLLOWFEED An investment trust listed on the premium segment of the London Stock Exchange offering a focused long term income strategy exploiting the demand-supply imbalance in European logistics. Listed on the Main Market: 15 December 2017 Website - HTTP://www.eurologisticsincome.co.uk/eurologisticsincome/ Publication of Prospectus (20/11/17) - HTTPS://www.investegate.co.uk/aberdeen-stand-euro-/rns/publication-of-prospectus/201711201453000069X/ Result of Initial Fundraising (13/12/17) - HTTPS://www.investegate.co.uk/aberdeen-stand-euro-/rns/result-of-initial-fundraising/201712131208522484Z/ Admission to Trading (15/12/17) - HTTPS://www.investegate.co.uk/stock-exch-notice/rns/admission-to-trading---15-12-2017/201712150800014273Z/ From IPO prospectus... INVESTMENT OBJECTIVE To aim to provide a regular and attractive level of income return together with the potential for long term income and capital growth from investing in high quality European logistics real estate. INVESTMENT POLICY To deliver the investment objective through investment in, and management of, a diversified portfolio of ‘‘big box’’ logistics warehouses and ‘‘last mile’’ urban logistics assets in Europe. The Company will invest in a portfolio of assets diversified by both geography and tenant throughout Europe, predominantly targeting well-located assets at established distribution hubs and within population centres. In particular, the Investment Manager will seek to identify assets benefitting from long-term, index-linked, leases as well as those which may benefit from structural change, and will take into account several factors, including but not limited to: * the property characteristics (such as location, building quality, scale, transportation links, workforce availability and operational efficiencies); * the terms of the lease (focusing on duration, inflation-linked terms, the basis for rent reviews and the potential for growth in rental income); and * the strength of the tenant’s financial covenant. The Company may forward fund the development of, or commit to the forward purchase of, new assets when the Investment Manager believes that to do so would enhance returns for Shareholders and/ or secure an asset at an attractive yield. The Company intends that forward funded or forward purchased assets will be wholly or predominantly pre-let at the time the investments are committed to. DIVIDEND POLICY Subject to compliance with the Companies Act, the Company intends to pay Sterling dividends on a quarterly basis. The Company will declare dividends in Euros, but Shareholders will receive dividend payments in Sterling. The date on which the Euro/Sterling exchange rate is set will be announced at the time the dividend is declared; and a further announcement will be made once such exchange rate has been set. Distributions made by the Company may take the form of either dividend income or ‘‘qualifying interest income’’ which may be designated as interest distributions for UK tax purposes. It is expected that the majority of the Company’s distributions will take the form of dividend income, rather than qualifying interest income, in the period during which the proceeds of the Initial Issue are invested; with the proportion increasing to a significant majority once that investment process has been completed. Prospective investors should note that the UK tax treatment of the Company’s distributions may vary for a Shareholder in the Company depending upon the classification of such distributions. Prospective investors who are unsure about the tax treatment of distributions which will apply to them should consult their own tax advisers. The Company is targeting, for an investor in the Company at launch: * an annual dividend yield of 5.5 per cent. per Ordinary Share (in Euro terms); and * a total shareholder return of 7.5 per cent. per annum (in Euro terms), (the ‘‘Target Returns’’). Timing of Ordinary Share distributions The Company’s financial year end is 31 December and the Company’s first financial year will end on 31 December 2018. The Company intends to declare quarterly dividends to Shareholders with dividends declared in respect of the quarters ending on the following dates: 31 March, 30 June, 30 September and 31 December in each year. The Company is targeting a first dividend of no less than 0.7p per Ordinary Share in respect of the period from Initial Admission to 30 June 2018, and expects to pay, in aggregate, dividends totalling no less than 3.0p per Ordinary Share in respect of the period from Initial Admission to 31 December 2018.
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