Abrdn Property Income Share Discussion Threads

[spectoacc] 26/7/2024 17:10

Good scuttlebutt, thanks - must be loads on with agents I'd guess.

[garbetklb] 26/7/2024 13:25

API are looking for £12m for Far Ralia via Knight Frank :
hxxps://www.knightfrank.com/ko/properties/%EC%A3%BC%EA%B1%B0%EC%9A%A9/%ED%8C%90%EB%A7%A4%EC%9A%A9/cairngorms-national-park-inverness-shire-ph21/HUB2341390

Not sure why Google finds it on Knight Frank Korea, but not UK..... But Google "Knight Frank Far Ralia" does find the pdf brochure.

In valuation @ 31/12/23, shown within the £8m-10m bracket

[skyship] 17/7/2024 21:16

Well, certainly clearer in that post. Agreed, Buy & Hold to completion...

[stolenscone] 17/7/2024 20:46

Sorry if I was unclear. My point is that once you decide to invest, you should probably be in it through until completion. There is little point in fretting about the unit price fluctuating. If you're buying it's because you think the the properties can be sold out ahead of the entry point discount to NAV. That's really all there is to it. (I've worked in property for +20yrs. I understand the opportunity.)

[skyship] 17/7/2024 12:14

of course we're buying for capital gain. Read the Header on the VL thread and all will become clearer for you.

[stolenscone] 16/7/2024 21:03

EssentialInvestor - presumably you're not buying it because you expect a capital gain, but because you think that the properties can be sold for more than the discounted book value?

The only question is: does the discount give you enough headroom? If the answer is yes, buy and hold to expiry.

[essentialinvestor] 15/7/2024 11:58

The wind up plays are badly lagging the wider sector of late.

[skyship] 11/7/2024 10:00

More evidence that valuers are being a tad too conservative with their valuations. Good news for API's wind-down potential:

[badtime] 07/7/2024 20:36

Nice one Sky

[skyship] 07/7/2024 14:04

New Voluntary Liquidation thread ("VL"):

[2wild] 05/7/2024 19:44

Imagine the rise in API and other REITs Is primarily due to UK 5 year guilt yield falling back below 4% today. Making property yields look more appealing and reducing finance cost going forward.

[flyer61] 05/7/2024 09:00

Yes it was a fortuitous day!

[skyship] 05/7/2024 08:34

Posted this on 18th June:

"Strewth - out for a couple of hours this morning & return to see somehow API had been sold down to 49.6p! What idiots sell down below 50p; even below 51p; even below 52p.

These have to move back above 53p in a few days time..."

Well, reality check as API power up through the 53p level - now at 53.4p

[paulboz] 04/7/2024 14:03

Pavey: I'm not that surprised but I have a rule not to invest more than 10% in any single investment with the exception of cash. I've seen the calculations and I am invested in both API and ASLI and will probably invest more when more funds become available. Cheers!

[pavey ark] 04/7/2024 11:15

PaulBoz, you seem surprised.

The logic of the figures is that everyone should have 13% of their "pot" allocated here......!!!???

No guarantees in investing or life but five minutes with a calculator may be in order.

[skyship] 04/7/2024 08:24

Yes indeed; and another 10% in ASLI.

I have always been a fan of liquidation opportunities; and two of them to come along at the same time is an added bonus!

[paulboz] 04/7/2024 08:01

Hi Skyship, are you saying that 13% of your investment pot has been allocated to API? thanks

[skyship] 03/7/2024 21:13

A return to reality. Amazing the opportunity for latecomers earlier this week and last.

12% cash; however couldn't top-up as already at 13% allocation.

[spectoacc] 03/7/2024 16:19

2m through at 52.75p, unusual size/price. Not far off HoD.

[pavey ark] 02/7/2024 10:04

Before the wind-up they were committed to reducing the RCF and at the beginning of May they said this was down to £31.6m from c. £56m.... all well and good but then nothing.

There were a number of sales lined up but no further sales announced which makes me think that we may get a sale of a number of properties to a single buyer (buyers?)rather than one off sales.....just a hunch!!

Any further reduction in debt should increase/maintain current dividend cover so next couple of dividend payments look safe.

[spoole5] 02/7/2024 10:04

Slow here with disposal news, makes you wonder if there's something bigger in the wings and they'll announce a block

[williamcooper104] 26/6/2024 23:15

IHT won't matter CGT might a bit - as in any buyer might factor in paying higher tax reducing returns -The whole industry used to never model tax on basis that it was never paid - that's changed but when it changed it didn't have a huge impact on pricing

[essentialinvestor] 26/6/2024 17:20

Cyclicals generally weak today.

[riverman77] 26/6/2024 17:12

Yes I might sell SHED instead after good run, and I must admit slightly underwhelming results. Currently hold 5 REITs but keen to get this down to 4 (API, EBOX, SHED, SUPR, CREI)

[hindsight] 26/6/2024 15:20

Think a bigger question should be, will the CGT & IHT changes that are coming reduce prices to compensate