The Local Shopping Reit Share Discussion Threads

[strathroyal] 17/2/2017 12:13

Wishaw already showing Sold Post on the acuitus website.

[hillofwad] 17/2/2017 04:09

Sleepy

I think most posters here arent expecting fireworks from secondary /tertiary properties let to A N Other on short leases with top ups to reflect rent free periods.

Whats your thoughts on the prices achieved and the decision to use Auction houses other than the best game in town Allsopps . Clearly for some of the dross Pugh unfortunately is probably the only venue.

Strange decison not to use Allsopps unless there is some conflict of interest They have done all the legwork on the properties for the valuations. Perhaps someone ought to beg the question

I dont think the Auction was the right place for Lichfield property for example to have achieved the best price .One of the tenants has been holding over for some time since August 2015!! and they have been there for quite a few years I dont understand why LSR didnt get the lease renewed or gain vacant possession and relet prior to sale. All an investor is going to do in any event is discount the income in his bid
I have a sneaking suspicion there is very little asset management being undertaken and the BODS are just playing this game out easystreet
The lot size and short leases would suggest to me that a local investor would have come on board by private treaty given a bit of time to sort out some finance
Plenty of money in Staffordshire and there are also plenty of good Midland Investment agents

I emailed 2 I know last night and both said it semmed very cheap

[strathroyal] 16/2/2017 22:47

I'd say that the auction went very well. If we assume that the reserve prices are around valuation and that the Sold Prior have exceeded their reserve then the 6 sales have equalled or exceeded the reserve placed on the 7. And the unsold property came within 1% of its reserve. The 6 sales will have grossed over £1.7M

Next up LSR are offering 17 properties at the Manchester and Leeds auctions with total reserves of £1.485M. I wouldn't argue with the comment that these are dross but as long as they are priced as such, most of them will sell as similar properties did at the last Pugh auction.

Portfolio now below 300 properties.

[sleepy] 16/2/2017 22:18

I have huge respect for the share picking abilities of some of the posters here but most of the posters do not seem to have much expertise in the nitty gritty of the low value commercial property market

[tiltonboy] 16/2/2017 17:11

Overall, not too bad. The real test will be next week when the "dross" is on the line!

[cockerhoop] 16/2/2017 16:57

Sounds like the Reserve was close to £200k as the auctioneer suggested a deal could be done - L52

[hillofwad] 16/2/2017 16:55

The last lot only reached £198k Looks to be a bit of a no brainer producing £25k pa with 13 years to run without break Bound to sell after auction -especially for the tenant

[hillofwad] 16/2/2017 16:36

208k seems pretty OK to me for 47

[cockerhoop] 16/2/2017 16:34

'I can see it in you eyes sir' on Lot 47

[hillofwad] 16/2/2017 16:29

Not so good on 44 which looks like a decent result

[cockerhoop] 16/2/2017 16:27

Getting video now, slight delay to bids but very entertaining :-)

[tiltonboy] 16/2/2017 16:13

No video feed at all.

Well done on 38 hillofwad.

[cockerhoop] 16/2/2017 16:11

Good effort on L38 HoW!

[cockerhoop] 16/2/2017 15:54

I can see the bids incrementing on the real bid page but no video, are others getting the video feed?

[hillofwad] 16/2/2017 15:43

A lot of non sales taking place which doesnt look good for the auctioneers Lets hope its Scotland the Brave

[skyship] 16/2/2017 15:39

Buyer got himself a good deal there...

[hillofwad] 16/2/2017 15:32

Yes having relooked at it again I thought a little low . Maybe the lot size just over £500k reduces the number of investors for what is a private investor buy The income does look alittle shaky Bad news trying to sell something with someone holding over Punters will always assume the worse and they are on their way out. Its good fun watching it live

[tiltonboy] 16/2/2017 15:15

£634k for Lichfield. Above guide, but a sense of disappointment.

[hillofwad] 16/2/2017 15:15

Lichfield sold for £634

[hillofwad] 16/2/2017 13:32

Bought a little sliver today (more than recently sold at !!) Confident that Auctions are the way to go Wonder why they are using Aquitus and not Allsopps especially when they are doing all the valuations,private treaty sales and they have the hottest auction house in town. Strange or maybe they are scared that the prices obtained at auction wont marry up with their book valuations Any thoughts anyone?

[strathroyal] 16/2/2017 09:46

Hillofwad - I'd put it up previously as one belonging to LSR but the company confirmed to Tilts that they did't have any properties for sale in the Allsop auction so presumably it belonged to Project Minard.

On a brighter note, Acuitus lot 46 Ayr is now showing as Sold Prior so 2 down and 23 to go!

[tiltonboy] 16/2/2017 09:45

LSR had nothing in the Allsop auction.

[hillofwad] 16/2/2017 09:16

Crowthorne -Maybe not but shares the same solicitor Garteh Jones at Eversheds . I thought a previous poster had identified in as being part of LSR,s portfolio Maybe it was included in one of the portfolio sales so could be being sold on by the portfolio buyer moving it on

[tiltonboy] 16/2/2017 08:38

Not an LSR property then.

[cockerhoop] 16/2/2017 08:27

Link works for me, Allsops Lot 15 at Crowthorpe