The Local Shopping Reit Share Discussion Threads

[badtime] 10/8/2016 10:35

Couple more 20's

[tiltonboy] 09/8/2016 15:19

Not me. I have been the cheeky bid at 24p for the last few days.

[skyship] 09/8/2016 14:23

Could well be Tilts, though I too made a small top-up of 15k @ 25.3p last week.

[badtime] 09/8/2016 12:27

There's been a series of 20k buys recently

[badtime] 18/7/2016 15:28

MRF :)))))

[skyship] 18/7/2016 14:52

orinocor - are you aware that LSR is in voluntary liquidation mode? If not then I can understand your question, though fail to understand the extent of your struggle for more information!

[gfrae] 18/7/2016 14:45

Because it is 15% cheaper ?

[my retirement fund] 18/7/2016 11:36

A lot of its properties are near Pokemon checkin sites, and a few of them are located very near to gyms.

[orinocor] 18/7/2016 11:19

So the share price is down 15% since the referendum result. That's probably a lower drop than many property companies. Struggling to see why folks thinks this is any more of a buy at 25.5p than it was at 27.75p in June.

[my retirement fund] 15/7/2016 10:02

A lot of these highstreet shops that cannot be easily let can be converted into residential housing at enormous uplift in value.

[redhill9] 15/7/2016 09:14

I too added at around 25.3p on the basis that if they sell the properties at anything reasonably close to NAV it's a bargain, and if they don't sell the properties then LSR will receive a good income stream with a healthy net operating profit (especially now swaps are finished). I suspect most of us would be more than happy with sales somewhat below NAV generating a final distributed value of anything above, say, 35p?

The risk really is a halfway-house situation where they sell the better properties, with the proceeds being required to repay debt, leaving a rump of less desirable properties that don't sell but aren't large enough in total to provide operational critical mass (although LSR have suggested they wouldn't get in this situation, it may be difficult to avoid).

Hopefully the implications of changes to the list of website properties noted by strathroyal above are as logical as they appear and that the list has been reduced by properties under contract of sale, but I would have thought that once a prospective sale gets to the stage of contracts signed and taken-off the website then that would also be the time to announce it via RNS (from recollection, that's the approach APT have taken with their liquidation sales - announce it once contracts exchanged).

[tiltonboy] 14/7/2016 23:06

strathroyal,

It would be nice if the company updated, but they may wait for legal completion.

I think 25.25p will prove cheap irrespective of whether they sold much this time round.

[strathroyal] 14/7/2016 22:59

Hi Tilts,

Well I have to say that, whilst I acknowledge that my visit to the opticians is 6 months overdue and my detective skills are more Dr Watson than Sherlock Holmes, I'm surprised at this on a number of accounts.

(1)Around the time of the auctions the number of properties on the Gallery was reduced from 228 to 136. I don't think that the site had been updated since before Project Minard so when these properties were sold is anybodies guess but the site has again been updated in the last week or so and 5 of the properties are now blank (3x Glastonbury; 1xGrantham & 1xGt Yarmouth) suggesting further sales.

(2) I set out to take a conservative view and only included those properties which were visible on the Gallery. Eversheds were involved in a further 10 sales, some of which may have been LSR

(3) Subsequent to the sale, Allsops has sold lot 126 (Penzance) for £275k

Anyway, if I was wrong I will have paid a price as I added to my investment at 25.25.

[tiltonboy] 14/7/2016 08:55

I'm trying to get confirmation, but I understand that some of the properties that we thought were ours in the auctions were not. Sales that did go through were relatively small.

[tiltonboy] 12/7/2016 18:21

Be nice if they tell us what they sold!

[skyship] 12/7/2016 17:53

Auction raises £55.7m as investors back property

The latest Acuitus auction achieved strong results and raised £55.7m as investors targeted a wide range of commercial property. A total of 73 lots sold – 83% of those offered in the sale – with 20 achieving prices of more than £1m.

Acuitus auctioneer, Richard Auterac, commented: “In this time of economic uncertainty, the auction room enables investors to access the type of income returns which are not available through other investment media and that demand was vividly illustrated today.

“Interestingly, the mood of investors in the room was as upbeat as it was at our May auction.”

The highest price achieved at the sale was for a 13,986-sq ft Aldi supermarket investment in Rochdale. Let until 2030 at a current rent of £226,281, it sold for £3.7m at a yield of 5.7%.

Buyers were also in the market for properties with asset management or development opportunities. A vacant 3,814 freehold office building with residential redevelopment potential in Grange Road near Tower Bridge, London SE1 sold for £1.35m - 60% above its guide price.

Richard Auterac comments: “Confronted by negative returns from government bonds and continued volatility in the equities market both private investors and entrepreneurial property companies are continuing to target commercial property. There was no apparent difference in pricing between our pre and post Brexit auctions.”

A post-referendum survey carried out by Acuitus which canvassed 50 UK clearing banks, international banks, development lenders and providers of short-term finance indicated that there has been little or no change to lending terms.

Richard Auterac comments: “With regard to the commercial property investment market, the clear message from the UK clearing banks and specialist lenders is that they are open for business as usual.

“The prudent level of debt finance available to investors was clearly an important factor in the strong level of buyer demand at this auction.

“There is a long way to go with the negotiation of the UK’s exit from the European Union but this sale demonstrated that despite the headlines around the large open-ended investment funds, there is strong investor demand for direct ownership.”

The fifth Acuitus auction of the year will take place on October 13th at the Radisson Blu Portman Hotel, 22 Portman Square, London W1H 7BG. The deadline for entering a property into the sale is 9th September.

[badtime] 12/7/2016 15:31

Personally not surprised ..the company is not known for its great communication

[my retirement fund] 12/7/2016 12:43

Deafening silence here!

[tiltonboy] 07/7/2016 16:01

Looks like £2.631m of sales from what we believe are LSR properties, and looks like a pretty decent market place for non-institutional lot sizes.

[tiltonboy] 07/7/2016 15:48

gfrae,

I'm sure the company will update us in due course.

[my retirement fund] 07/7/2016 15:02

Hmm sounds like the markets still turning over ok despite the panic in the media.Thats fantastic news and good to know.

[redhill9] 07/7/2016 14:47

Of the first 30 properties so far in today's Acuitus auction only 4 appear not to have sold - 2 marked as withdrawn and 2 marked as available so there seems to be an appetite.

Regarding LSR, as well as Lots 8 and 16 Lot 28 of those believed to be LSR's has also now sold.

Edit: Lot 55 has now sold too, appears to be going OK..

[skyship] 07/7/2016 13:41

8 & 16 had guide prices of £1.25m & £575,000 - so some useful sales there...

[gfrae] 07/7/2016 13:15

Thank you Tiltonboy for the information on the auctions.Do we know if those lots sold have been sold above or below valuation ?

[redhill9] 07/7/2016 12:21

Just been looking at the live auction list and see that lots 50 and 60 have been "Withdrawn Prior" (as opposed to "Sold Prior") so that's odd/disappointing.

Edit: Lots 8 and 16 have sold so far.