The Local Shopping Reit Share Discussion Threads

[ntv] 09/3/2017 08:54

Mine took nearly a year and i still don't know why. They reckon they couldn't find/lost some paper work. it was a nightmare and loads of excuses

can view level 2 order books and trade in auction?

[spectoacc] 09/3/2017 08:43

GNI money came back within weeks for me, under FSCS (or whichever alternative scheme).

IG not bad for retail DMA.

[ntv] 09/3/2017 08:25

what DMA platform do you guys use?
i want to try out one that is for private users with auction trading facillity
used to trade some years ago with GNI but they went bust and had along battle to get my cashback
things changed so i didn't trade but now i have the time to do it again
any pointers please
TIA

[tiltonboy] 09/3/2017 08:07

There was a million on offer at 30p yesterday.

[skyship] 09/3/2017 07:35

NTV - thnx for noticing that - 335k @ 29.25p....encouraging

[ntv] 08/3/2017 22:39

large trade
somebody topping up

[ntv] 08/3/2017 22:39

large trade
somebody topping up

[strathroyal] 05/3/2017 09:08

Thanks Tilts, Lot 21 it should be.

[skyship] 05/3/2017 07:25

Herewith a link to the Allsops auction catalogue for 27th March:

[tiltonboy] 04/3/2017 22:24

Odd that they are pushing the last three through Allsop's, especially Lot 138!

Cooplands is a decent-sized business, and it will be interesting to see if those properties get sold prior to the auction.

[tiltonboy] 04/3/2017 22:17

strath,

It's Lot 21 not 22.

[hillofwad] 04/3/2017 19:28

Yes except the last lot -better qualityGreat to see Allsopps The 3 shops let To Corals are difficult ones to value . 7 years unexpired at what appears to bea full rent with any investor factoring in theirbid vacant possession at the end of the lease with the way bookmaking is going . Very hard to say where these are going to land

Too close to call whether these will make prices reflecting sub 8% as guided IMHO if they got prices showing *.8.25-9% that would look a fair result Fingers crossed

Cerainly be watching these with interest If favourable prices are achieved this will augur well for the rest of their portfolio which must have simiar stock

They are lazy not inspecting the upper parts I dont get that surely they must have done when they valued the portfolio? if not surely the management team could have provided them details

[hillofwad] 04/3/2017 18:54

Thats good news

[strathroyal] 04/3/2017 18:37

Already we have the lots out for the next Allsop auction and there appear to be 6 properties belonging to LSR. Lots 8, 13, 22 (all 3 let to Corals), 126, 127 and 138. Generally a better selection with reserves of £1.7M - £1.83M.

[hillofwad] 01/3/2017 14:40

Must be feeling a bit maudling Just cast my eyes over the team who will be having their one eye on the door cranking up the expenses The whole expensive set up doing little more than issuing quarterly rental invoices,the odd inspection and issuing instructions on a monthly basis to third parties to sell the properties on a drip

I was disappointed to sell little evidence of any asset management in the recent sales

[skyship] 01/3/2017 14:11

HoW - Absolutely no need to be so downbeat.

The Strategy outlined in December states initially they will "Sell 125 of the smaller & more challenging properties for a Target Value of £20m".

You, certainly I, would expect those properties to render some disappointment as they are least valued by both vendor and potential buyer.

It is the medium and higher value properties which are more plentiful and more likely to rebalance to the upside; and it is these properties which will burnish the acquisitive eye of a potential portfolio bidder!

[badtime] 01/3/2017 14:10

Re post 2025 ..question for BOD ..maybe you should give them a buzz?

[hillofwad] 01/3/2017 13:57

The long and short of it is by private or auction they need to acclerate the sales programme I cant see any benfits stretching it out over more than 15 months An orderly windows I dont think its going to attract anymore shreholder value

[hillofwad] 01/3/2017 13:50

No problem having some poor quality investments if you can improve them and add value or more importantly at least value them correctly They are notoriously difficult to value which makes it more surprising that Allsopps who deal with this sort of kit day in day out didnt value it more conservatively or perhaps they had heavily cavaeated their valaution which we arent aware of!! Maybe thats why they didnt want to sell any of it

One question for the BODS are they intending to use Allsopps for the £200k plus kit?if not why not?


Looking at the kit sold I am not unhappy with the price or the kit necessarily its the management or lack of it ,the high cost of collecting a small rent roll and very little evidence of them adding any value which seems to be frittering away One step forwards two back

[strathroyal] 01/3/2017 13:37

HoW - So how did you become a shareholder in the first place as LSR have never held premier assets?

[badtime] 01/3/2017 12:31

And it's raining today

[hillofwad] 01/3/2017 11:40

Lets not forget It was only revalued in September and already taking a haircut. Its being devalued by 10% per annum . You then have to beg the question what asset mangement if they are reducing in value rather than adding value Most posters seem quite happy with us sitting on Death Row with a very expensive bill housing and feeding the prisoner By the time the Road Map has finished another 20% erosion

[hillofwad] 01/3/2017 10:38

Seems to be a very heavy expense to collect an annual rent of £6.99m

[hillofwad] 01/3/2017 10:05

Well Strath any property can be sold its all down to price and this lot have been sold below book values . Asset mangement or damage limitation !

Looking at the team there are still 3 asset managers,Mayfair office based (doing SFA by the looks of the leases in the auction catalogue) with Internosand BODS in the mix too Mob handed .expensive payroll to collect a few rents and dripfeed properties to external selling agents on a monthly basis

What % of the quarterly rent roll is being swallowed u by this unnecessary overhead

[strathroyal] 28/2/2017 22:57

Even the Golborne property is now showing as Sold Post so Internos have shown a great determination to keep up the momentum as only 1 property (reserve of £20k) remains unsold from the 3 auctions. That is of course discounting the Fleetwood property which was Not Offered.

In view of this it will be interesting to see whether they maintain the number of props in the next auction cycle at 25 or reduce to the 15 previously expected.