The Local Shopping Reit Share Discussion Threads

[tiltonboy] 16/2/2017 08:20

I couldn't open the link (even changing to http). Which property is it?

[tiltonboy] 16/2/2017 08:14

I wasn't having a pop; I was being serious. I have little knowledge of tertiary property, and wouldn't have a clue how to value it. It's obvious yield isn't the only sum in the equation. I have colleagues from Lichfield who know the property hence the belief that it looks on the low side.

[hillofwad] 16/2/2017 06:15

hxxp://www.auction.co.uk/commercial/LotDetails.asp?A=1011&MP=84&ID=1011000064&S=L&O=A
This failed to sell .Not surprising as it seems a strange decision to sell a property with an uncompleted tenancy in an auction

Well Tilts sounds to me as if you see yourself as the expert having a pop at someone having a litle fun trying to guess the prices from an auction catlogue Why dont you have a go yourself You are right on Lichfield mind I have over compensated for the break and there have been a couple of lettings nearby recently sounds like £665k is more like it!

[tiltonboy] 15/2/2017 19:20

You are the man with the knowledge, so I'm going with you...lol...

[hillofwad] 15/2/2017 18:43

You can have a good chortle tomorrow when I am way off beam!!!

[hillofwad] 15/2/2017 16:17

Nice building of appeal to local investor and yes probably a bit conservative. The bridal shop is holding over from an expired lease and begs the question why they havent renewed bearing in mind the rent looks ok? Both other leases have options to break so any lender will factor that in

Used to let shops and factories in Lichfield and Tamworth many years ago

Its like the QS estimate forget about the individual figures its the overall total that counts

[tiltonboy] 15/2/2017 14:00

...lol...I would be mildly pleased with that (31). I would very displeased if 18 went for £612k.

[hillofwad] 15/2/2017 13:45

No just part of the guesses!!!

[tiltonboy] 15/2/2017 13:22

hillofwad,

Are you informing us that 31 went for 245k?

[hillofwad] 15/2/2017 12:59

Hills Vals for auction tomorrow
18 £612k
38 £185k
44 £185k
46 £295k
47 £192k
52 £225k

and the lot sold prior £245k

[hillofwad] 15/2/2017 12:37

Acquitus are probably a good second to Alsopps with a quality cliet base reflecting Richard Auterac,s reputaion as a seasoned performer .The lots arent dross like those in Pugh and I have high hopes that they will get good prices tomorrow
Interesting to note that Countrywide have shut down their auction department

[hillofwad] 15/2/2017 12:33

Strath No 31 Kilmarnock That looksa nice buy and should have bagged £235k plus to prevent it from going to auction Nice spot but shortish lease

[tiltonboy] 14/2/2017 20:53

I would hope they have had a good offer for it, and certainly well above guide, if they have sold it prior to the auction.

I'm looking forward to watching it on Thursday.

[strathroyal] 14/2/2017 18:57

Tilts - 1 down, 24 to go! Lot 31 in the Acuitus sale has Sold Prior so hopefully it's met or exceeded it's book value (Guide Price was £200K).

[strathroyal] 09/2/2017 22:30

Agreed Sky but the assets are effectively intertwined. It is difficult to envisage DIL2 being able to pass its stake in LSR on to a 3rd party for a profit without other shareholders being able to exit profitably as well.

[skyship] 09/2/2017 17:42

Strath - for the avoidance of doubt, they're referring to the sale of all DIL2's assets - not LSR assets. Still, hopefully that will prove to be one and the same:
==================================================================================

Outlook

As the Company has adopted a realisation mode there is currently every expectation that all its assets will be sold by the end of 2017 - as announced on 23 June 2016.

[strathroyal] 09/2/2017 16:32

Had a brief look at DIL2's annual report, under the heading Outlook (signed off by Brett Miller and one other), 'As the Company has adopted a realisation mode these is currently every expectation that all its assets will be sold by the end of 2017....', so perhaps this will reach a speedier conclusion than recently suggested.

[strathroyal] 02/2/2017 10:36

I see that estimated values have now been attributed to the 17 properties in the Pugh auctions, I make the total £1.485M.

[skyship] 01/2/2017 14:24

Re Lot18 - Smart building in a good location in a Cathedral City. With a £67k rent-roll that £600k reserve should soon be left well behind. Could deliver £750k-£800k...certainly a fun one to view!

[tiltonboy] 31/1/2017 11:00

Specto,

We have good knowledge of Lichfield, and think Lot 18 could achieve significantly above guide. Property ownership is just not my scene (apart from the family home), so I do not see myself becoming a landlord.

[spectoacc] 31/1/2017 10:42

Don't get an itchy trigger finger @tiltonboy... ;)

[tiltonboy] 31/1/2017 10:22

I have had confirmation of the Acuitus Lots, and indeed they are the DWF listed properties in Scotland (31, 38, 44, 46, 47, &52), and Evershed listed (18 & 47).

The manager does not believe that these (and Pugh Lots) fit the profile for an Allsop auction, but when the better quality assets come up for sale they will be used.

I'm looking forward to viewing the auctions live.

[tiltonboy] 29/1/2017 21:05

Having had a look through the Acuitus Lots, I can only positively identify three of our properties (18, 31 & 52), when comparing against the original prospectus.

"Furthermore, 25 assets have been scheduled for auctions in February"

With eight scheduled for Manchester, and nine for Leeds, it would have suggested that there are eight in the Acuitus auction, unless of course Lots have been sold post the 12th December statement.

I will try and clarify tomorrow.

[tiltonboy] 29/1/2017 15:49

hillofwad,

Agreed, but you are forgetting the rent that will have accrued. Unless there are large discounts being taken, NAV can possibly be maintained.

[hillofwad] 29/1/2017 15:28

Small Stuff

The 1.75% premium to book excludes transaction costs which will certainly exceed 1.75% probaly more like 3% all in resulting in a small loss especially on the tiddlers under £200k