News / REIT on a shopping spree for UK warehouse assets after IPO

first_img By Gavin van Marle 25/09/2017 © Dmitry Kalinovsky Warehouse REIT, a specialist UK urban logistics fund followed last week’s £150m initial public offering in London today with the acquisition of four multi-let industrial estates for £26.25mTwo are located in the UK north-west, one in the Midlands and one in the south-east and are all either in urban areas or on strategic infrastructure links. They have a total floor area of 603,000sq ft and REIT says they generate an annual net rent of £2.11m.“With average passing rent equating to £3.50 per sq foot, the company believes there is potential for long term rental growth,” it said in a statement.The deal follows the acquisition of the Tilstone property portfolio, “27 freehold and long-leasehold warehouse assets” in the immediate aftermath of the IPO for £108.85m. It has 129 tenants, incuding retailers Boots, Amazon, Asda and Selco Trade Centres.“Occupier demand for urban warehouse space is increasing, as the structural growth in e-commerce has driven the rise in internet shopping and investment by retailers in the ‘last-mile’ delivery sector,” said REIT.“The urban warehouse sector offers one of, if not the highest initial yield of all UK property sectors,” the company added.At the time of its IPO, the firm said it had identified a further £88m of investments, which means it is still looking at spending another £60m-plus following today’s acquisitions.last_img read more

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Florida Regulators Reject Cost Recovery Plan for Turkey Point Nuclear Build

first_img Suitors for halted Bellefonte nuclear project ask TVA to consider climate in reviving sale Previous articleWorld’s First Floating Wind Farm Begins OperationsNext articleMediator Trying to Find Solution to Wind Energy Dispute chloecox Twitter Optimizing Plant Performance: The April POWERGEN+ series activates today Facebook New Jersey utility regulators extend zero-carbon breaks for PSEG nuclear power plants Florida Regulators Reject Cost Recovery Plan for Turkey Point Nuclear Build The Florida Public Service Commission has rejected a $49 million cost recovery proposal for continued development of the Turkey Point Nuclear expansion. By Editors of Power Engineering By a 4-1 vote, the commission ruled Florida Power & Light does not have a required feasibility analysis to show the two new reactors will benefit customers, and that the utility cannot collect costs incurred after 2016, the Palm Beach Post reported. NuclearNew ProjectsReactors Linkedincenter_img Twitter Development of the 2,200-MW Turkey Point Units 6 and 7, originally proposed in 2006, has stalled in recent years, with FPL asking for a deferral in its required annual financial analysis in 2015, 2016 and this year. As of August, FPL has spent $315 on the development of the new units, with another $90 million to be spent during the next five years. The total estimated cost of the project is $17.8 billion. By chloecox – 10.18.2017 Facebook TAGSFPL If built, the project would use two AP-100 reactors from Westinghouse, which has filed for bankruptcy and exited nuclear construction. Linkedin RELATED ARTICLESMORE FROM AUTHOR No posts to displaylast_img read more

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Google Fiber contractors beginning utility pole work in Prairie Village

first_imgGood news for those of you who have been waiting with bated breath for news of Google Fiber’s entry into the Prairie Village market: residents in a handful of Prairie Village neighborhoods this week began receiving notice that PAR Electrical, a contractor working on Fiber installation in northeast Johnson County, is preparing to do “make-ready” work on utility poles in the city.The “make-ready” work, which prepares utility poles for the hanging of new utility cables, can be completed without the approval of the city. Before Google begins installing actual Fiber cables in the city, it will be required to inform the Prairie Village city council. PAR crews are conducting similar work in Mission.In Merriam, Roeland Park and Westwood, Google has sent letters to the city informing them it intends to provide service to the cities on or after Feb. 21.Prairie Village City Administrator Quinn Bennion said Tuesday that the city had not yet received work permits from PAR, but that they had been “getting hints” that installation might be getting closer. PAR filed work permits with the city Wednesday morning.AT&T announced the rollout of a competing high-speed Internet service in the Kansas City area it’s calling Gigapower this week, but aside from Leawood, no northeast Johnson County municipalities will be among the first wave of recipients.last_img read more

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Minnesota measles outbreak to cost state $1 million

first_imgYesterday Minnesota Health Commissioner Ed Ehlinger, MD, MSPH, asked state lawmakers for $5 million to address growing infectious disease crises, including the current measles outbreak in Minnesota’s Somali-American population that is projected to cost the state at least $1 million.When it began last month, public health officials knew this outbreak could be large and ongoing, because many Somali-Americans have been refusing the measles, mumps, and rubella (MMR) vaccine for years over unfounded rumors that the childhood immunization, whose first dose is routinely given to babies at 12 to 15 months, causes autism.At this point, the state has identified 51 cases of measles, all but 3 involving children, with at least 7,000 additional exposures.But convincing the “hearts and minds” of a community is proving to be much more expensive and complicated than making the MMR vaccine more widely available.Initial costs are tip of iceberg”This is not an access question,” said Kristen Ehresmann, RN, MPH, director for infectious diseases at the Minnesota Department of Health (MDH). “It’s an issue of being misinformed about the risk. Doing community outreach and engagement is much more labor intensive, because it’s not about just offering more clinics and opportunities to get the vaccine.”Ehresmann said that staffing costs for the current measles outbreak, which includes the communication office, are an extra $207,096 for the state per 21-day period. But Ehresmann said the $200,000 number is just the “tip of the iceberg.””We’re already into the second month of this outbreak, and we haven’t plateaued yet,” she said. Ehresmann said the costs incur from several different departments: $165,000 for staffing infectious disease and communication departments; $9,600 for having staff on call 24/7; $14,000 for materials, testing supplies, translations, and shipping.”We’re projecting another 3 months out at this point; it’s going to be expensive,” said Ehresmann.”If the measles outbreak lasts 3 months,” said Kate Awsumb, MA, MPH, “the back-of-the-envelope costs are approaching $1 million.” She is the assistant director of communications with the MDH.And those are just the MDH costs. Hennepin County, the epicenter of the outbreak, has to date incurred $79,000 on the outbreak, according to Lori Imsdahl, a communications specialist with the county.But that cost does not include staffing and payroll, information that won’t be calculated until May 19, Imsdahl said. On that date, the county will be able to estimate an average weekly cost for the outbreak.Other costs of ‘unnecessary’ outbreak”This is an unnecessary outbreak,” said Ehresmann. “The fact that we have to spend so many public health resources is challenging. And we just have to suck it up; there’s no special emergency fund for this sort of thing.”The costs provided by the MDH and Hennepin County do not include the money healthcare facilities spend on post-exposure prophylaxis, nor the economic costs spent by the state’s departments of education or human services.”No one thinks about the cost of this sort of thing,” said Ehresmann. “We think about health and human costs, of course, but dollars and cents are the other thing.”See also:MDH most current outbreak numberslast_img read more

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BP Plans New Investments in Alaska

first_imgBP announced it is planning to add $1 billion in new investment and two drilling rigs to its Alaska North Slope fields over the next five years due to changes in the state’s oil tax policy signed into law this month by Gov. Sean Parnell.These plans call for an increase in drilling and well-work activity, the upgrading of existing facilities and the addition of up to 200 new jobs in the state, giving a boost to both the company’s operations and the state’s economy.In addition, BP has successfully secured support from the other working interest owners at Prudhoe Bay to begin evaluating an additional $3 billion worth of new development projects. These projects, located in the west end of the Greater Prudhoe Bay Area, could continue for nearly 10 years, further increasing the state’s oil production and providing additional jobs.“With this new tax law, the Alaska legislature and Governor Parnell have taken an important step toward improving Alaska’s long-term economic future,” said BP Alaska Region President Janet Weiss. “Our announcement today should make abundantly clear that BP is committed to being a part of that future and to continuing to extend the life of North America’s largest oil field.”BP Exploration (Alaska) Inc. will issue a request for proposals (RFPs) beginning this summer for the two additional rigs in Prudhoe Bay. The first drilling rig is expected to be in place by 2015 and the second in 2016. This will increase BP’s rig fleet in Alaska to nine.Meanwhile, BP expects to increase well work as soon as the fourth quarter of 2013, a move that should improve the performance of existing wells at the Prudhoe Bay and Milne Point fields.The additional development opportunities being evaluated by working interest owners are in the west end of Prudhoe Bay and include: expansion and de-bottlenecking of existing Prudhoe Bay facilities, constructing a new drilling pad, and expansions of existing pads, including the drilling of more than 110 new wells. The appraisal phase will take 2-3 years and will include engineering work and securing regulatory approvals for multiple development projects.“Now that an improved tax structure is in place, oil and gas projects can once again move forward, keeping Alaska competitive in the midst of America’s recent energy renaissance,” Weiss said.BP is also working with other companies and the state of Alaska to commercialize Alaska North Slope natural gas as part of a joint concept selection group focused on a South Central Alaska LNG project.“We believe it is the right time to focus on how we move this project forward,” Weiss said.[mappress]LNG World News Staff, June 05, 2013; Image: BPlast_img read more

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