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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Balanced Commercial Property Trust Limited | BCPT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 95.20 | 16:29:53 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 95.20 | 94.90 | 96.00 | 95.20 | 95.20 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT & SERVICES |
| Top Posts |
|---|
Posted at 04/9/2024 08:05 by vacendak Not sure if putting that thing to sleep at 96p is the worst that could happen. We had been "rebalancing" by selling offices slighly below valuations and told that these were good deals. So this one is being shafted in one go instead of progressively.Not much choice anyway, the big investors seem to be on board. Of course having entered the game at 150p+ all those years ago is not funny. I did top up a bit around 70-80p so those batches will have an uplift. |
Posted at 12/7/2024 22:18 by williamcooper104 Property week 7% discount to March values - ouch - but at least offices getting whittled down BCPT continues to cut office exposure with £41.6m double asset sale12 Jul 2024By Madeleine KnightCOMMENT Add to BookmarksBalanced Commercial Property Trust (BCPT) has sold two office assets, 7 Birchin Lane, London and 82 King Street, Manchester, continuing its strategy of reducing the portfolio's office exposure.The offices were sold for a combined £41.65m, representing an average 7.2% discount to independent valuations at the end of March. The Birchin Lane sale saw the company dispose of its only City of London holding.The disposals reduced BCPT's portfolio exposure to offices to 17.8% by capital value, down from 29.6% at the end of June 2023.BCPT has completed six office disposals since the start of December 2023, raising £110.52m, at an average 4.4% discount to their latest valuations.Proceeds from the sales have been used to repay BCPT's revolving credit facility and it will have more than £100m in cash reserves on completion of the latest sales.Meanwhile, BCPT has also secured four new leases at St Christopher's Place, a central London estate comprising 172 lettable units and 40 buildings, diversified across the retail, leisure, residential and office sectors. with the aim of capitalising on strong fundamentals and growing demand in the food and beverage (F&B) sector.According to BCPT's investment manager, Columbia Threadneedle, the focus on F&B will produce superior rents, longer leases and improved capitalisation rates, while also extending consumer dwell time and spending, with extended trading hours.Richard Kirby, fund manager of BCPT at Columbia Threadneedle, said: "We have now disposed of six office holdings since December 2023 and these two office sales were at an opportune point in the asset life cycle to optimise exit value."The pricing achieved further underlines the liquidity in the portfolio, despite the challenging market backdrop for the office sector.""The F&B sector has proven itself to be highly resilient in recent years and is an increasingly attractive sub-sector for investors." |
Posted at 02/2/2024 18:20 by nickrl NAV update this morning down -3.6% tracking the others. Divi still well uncovered but doesn't seem to deter investors here. |
Posted at 11/12/2023 19:07 by vacendak Not sure if the URL is going to point to the story for long, som the gist of it is:"Goldman Sachs has urged investors to stop betting against UK property stocks as the market shows signs of recovery." |
Posted at 14/9/2023 10:54 by nickrl @specto they have lifted the divi by 10% as well so if thats the new run rate FY now c7.4%. Based on NRI of 60m and current costs/interest it wont be covered (c95%) but they mention lots of positive asset mgt stuff but like many wont tell us what the current contracted RI is. Yes i know it changes but a refresh at NAV updates/results is a key metric in a propco surely for investors in this asset class or maybe not as its all about NAV to too many.Its at a potentially good value but lack of the two key metrics means it will stay on the sidelines with me. So given state of discount you would have though BoDs would do all they can to ensure transparency to encourage buyers. Suspect they are hoping someone will rock up and take out St Chris at a premia. |
Posted at 22/6/2023 11:47 by vacendak Even though the share price is cratering again, the latest Kepler review is relatively optimistic.Same link as from the RNS. |
Posted at 28/9/2022 12:47 by vacendak Kepler report.Friendly towards BCPT but a good overview of the facts nonetheless. The buybacks cannot carry on at this rate, especially if we are on the lookout for something to buy, at it seems to be the case. Although the desire to buy is not stated directly, there are substantial cash and overdraft facilities available for a sizeable acquisition. A lot of money earmarked towards refurbishments, thus reasons for rent increases. |
Posted at 19/4/2022 19:10 by catch007 Interactive Investor Commentary on BCPT today:ii view: Tracy Zhao, Senior Fund Analyst, interactive investor, says: “The trust has been led by Richard Kirby since launch in 2005, consisting of a portfolio of prime property assets in core locations. The trust’s focus is on London and the South East of England, investing in a pool of UK commercial property with balanced exposure across a wide range of UK property sectors, including office, retail, industrial and alternatives. “As the property market conditions have been improving, the trust is in the process of re-starting capital expenditure and reviewing a number of opportunities in the existing portfolio where there is a clear opportunity to generate value.” “The trust continues to reposition its sector allocation to reflect the emerging trends and government’s levelling up plan, such as reducing allocation to offices and retail space and expanding its exposure to industrials, increasing to 30.6% at year end, and whilst the current investment policy allows investment in this sector of up to 40%. The exposure to Midland region has been raised to 21% by end of 2021 from previous year’s 12%. In return, the exposure to London West End was down to 25% from 35%.” “This is one of the largest physical UK property trusts available, investing in prime UK commercial property - providing investors with exposure to a variety of commercial property, and generating rental income from the West End to Scotland. Its relative predictable dividend, which is distributed monthly, is the attraction for income seekers. The closed-ended structure of the fund is more suited to such holdings, providing trading liquidity.” |
Posted at 12/9/2021 20:24 by vacendak The joys of actually behaving like a "long term investor". At least I have never succumbed to fear and never sold, but I still fell for confirmation bias by refusing to have been wrong in buying it.Some people were dropping very strong "Overpriced!" warnings when it was above 150, at a 5+% premium with the divi only 80% covered. I should have listened. But hey! It is going up again. :) |
Posted at 12/4/2021 07:32 by spectoacc Results an interesting read. Occupancy a big positive, as is rent collection, as is the impending end of lockdown, as is the quote at the end. But for the negative side:"The Leonardo Building, Crawley, fell by -22 per cent as a result of a lease renegotiation with the tenant, Virgin Atlantic, as part of their financial restructuring in response to the pandemic's huge impact on airline businesses. 3 The Square, Stockley Park, fell by -19 per cent due to the reducing unexpired lease term which led to a valuation re-rating in response to the 'risk off' attitude of investors that was prevalent during 2020." Huge differences between valuations depending on tenants, even beyond looking at sectors & location. And the positive to finish: "...Particular priority will be given to using sales proceeds to buy-back the Company's shares if the high level of discount persists and if the Board believes that this course of action is in the best interests of all shareholders." |
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