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Grit Real Estate Inc - Q3 Real Estate Quarterly Roundup

RNS Number : 4909C
Grit Real Estate Income Group
19 October 2020

Q3 Real Estate Quarterly Roundup


Real Estate Sector Quarterly Roundup

It has been another challenging quarter for the real estate sector as the COVID-19 pandemic continues to take its toll. The economy bounced back in the early part of the quarter after the national lockdown was lifted, while government schemes such as 'Eat Out to Help Out' stimulated activity. However, towards the end of the quarter a rise in COVID-19 cases heightened fears of a second lockdown and new restrictions were placed on the hospitality sector.


·    Performance data - On the whole, it was another difficult quarter for the property sector as the impact of the coronavirus pandemic continued to be felt. Retail, leisure and hospitality sectors are still reeling from the initial lockdown and fresh restrictions are now taking their toll on these companies' ability to pay rent.


·    Corporate activity - A total of £237.5m was raised by property companies during the quarter, with a further £200m already raised in October and a new issue that raised £240.5m in an initial public offering (IPO). There were also a number of major appointments in the property sector during the quarter.


·    Major news stories - Some significant portfolio sales and acquisitions dominated the news.

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