British Land Share Discussion Threads

[soilderboy] 14/1/2022 21:45

Just chuck the towel in. Close the shorts.!If you can!

[essentialinvestor] 17/11/2021 23:15

Between Norges and CapCp they own approx 50% of SHB, so if both see
that as value accretive, it's virtually deal done from day one.

Used to love that part of London back in the day, but too old for that now.

[williamcooper104] 17/11/2021 23:09

CapCo and SHB if they ever get round to merging will create a huge almost contiguous estate; especially if they rope Soho estates in which has long been talked about As there's much less of the oldest profession in Soho the proper long talked about three way merger could happen

[williamcooper104] 17/11/2021 23:06

And now 3.75 for prime city offices - which is of course a record low (but still 10-20 percent discount to other prime euro CBDs)

[essentialinvestor] 17/11/2021 23:06

Currently hold HLCL, GPOR, MCKS, CapCo and CLI. Just small amounts of each.

SHB most likely has greater upside than CapCo, but hold the later atm as view it as lower risk,
particularly with lower overseas visitors for the foreseeable. Continental Europe now in the grip
on another COVID wave.

[williamcooper104] 17/11/2021 23:04

And I do keep challenging and asking myself if there's not really going to be a huge crash in office demand After all much of the industry kept head in sand over rise of e-commerce and impact on retail CRE - I shudder when Brookfield say that long term office demand will remain as before as they said the same about prime retail (they and many others said that only secondary would be hit by the internet - just as now they are saying that only grade b offices will suffer) But what we can say is that right now it looks like the office market isn't dead; and the 3 percent prime void is a powerful stat

[williamcooper104] 17/11/2021 23:00

Yep - there's going to be blood - a lot of it - in grade B space

[williamcooper104] 17/11/2021 22:59

The new bricks are being laid Current city void rate of true prime grade a space is 3 percentLesser space void rate is, from memory, still around 10 percent 3 percent void means there's a demand for new development/refurbishment; and there's plenty of tenants with requirements in the market This is nothing like 2008-10

[williamcooper104] 17/11/2021 22:56

It's the increasing diversification that I don't like - I like GPOR for the like of diversification Diversified REITs have long underperformed specialist REITs; one of the many reasons why US REITs often outperform the outperforming S&P whereas UK REITs usually underperform the woeful FTSE (especially if you remove UK specialist REITs - BBOX/PHP/SUPR and such like) There's a lot to be said for the large estate/quarter, mixed use regeneration schemes that both LAND and BLIND are moving incredibly into - but don't see why they need Bluewaters and retail parks to go alongside it - and now BL is pushing into life science as well

[ericshunn] 17/11/2021 22:54

Undoubtedly there will be some need for Grade A offices as lease events will create turnover. But surely aggregate demand for offices will fall and net take up will be negative. Possibly wrong but at present simply cannot see any need to lay a new brick in CBD offices anywhere in the world.

[essentialinvestor] 17/11/2021 22:35

Depends on what offices, London Grade A appears robust currently.

DLN, which is about 90% London office, had a vacancy rate of 1.9% at the last update.

Older, lower quality blocks may paint a different picture.

it looks like growing divergence on Grade A v lower quality re occupier demand.

Nick would know more about that than me.

[ericshunn] 17/11/2021 21:59

Structural change 3 out of 5 days in situ in the office will almost result in deceased aggregate demand for offices. BLand had a good retail portfolio especially in supermarkets, but disinvested and then reweighted the retail portfolio into town centre retail eg Plymouth amongst other places when every single signal said divest from provincial (town centre)retail.

[nickrl] 17/11/2021 21:34

Ericshunn its not an INTU imv as its has plenty of retail pks and high quality office accommodation which currently seems to be in demand in central London still. Personally the price is high enough already but there does seem to be a propensity for the big propcos to valued much higher than better value REITs.

[ericshunn] 17/11/2021 18:21

Cant help but think this is catching a falling knife. Same way as Intu in 3 years

[essentialinvestor] 17/11/2021 17:16

Thanks, what I like is the increasing diversification. Put it back on a watchlist.
Added to GPOR this afternoon fwiw.

[jonwig] 17/11/2021 17:14

I thought they were OK, for the rent collection. It will be a long slog with the Canada Water development.

[essentialinvestor] 17/11/2021 16:00

Any views on results?, read ok time on a quick read - not holding atm.

[buywell3] 13/9/2021 04:55

Unfortunately for some a UK property Market Crash is now muchly in prospecto methinks



free stock charts from uk.advfn.com



The rich have been shifting cash from banks and bricking it instead

Skewed stats are the result

Back to ultra low fixed rate mortgages now = recipe for another bust
----------------------------------------------------------------------------------
House prices 13 per cent higher than pre-pandemic levels

September 10, 2021


Reality has been bent

[llef] 09/8/2021 07:42

British Land to submit redevelopement plans for Queensmere centre in Slough soon.

"The Slough Central team, led by British Land as assets and development manager, are eyeing to transform the shopping centre and add up to 1,600 homes, as well as up to 10,000sqm of flexible retail space and up to 50,000sqm of office space if there is future demand."

hxxps://www.sloughobserver.co.uk/news/19496531.plans-redevelop-sloughs-shopping-centre-submitted-soon/

[sharesoc] 08/8/2021 18:18

In case you missed our webinar with British Land the recording and stockopedia report can be found here:

To access the recording, you'll need to be a full member of ShareSoc, which is a not-for-profit organisation that supports individual shareholders and campaigns for shareholder rights. If you're not already a member you can join here: hxxps://www.sharesoc.org/membership/

Once you've joined, you'll receive an invitation to register for our "members network" private social network, from where you'll be able to access the recording (and recordings/reports on 100s of other meetings). If you're already a member and have any difficulty accessing the report, please do not hesitate to contact us here: hxxps://www.sharesoc.org/contact-us/

[ericshunn] 19/7/2021 09:35

Ritblats are different gravy compared with Hester, Grigg or Carter.

[williamcooper104] 19/7/2021 07:41

Interesting that BL and Land secs now seem to be ploughing quite different fields When for the last 20 odd years they've been almost identical - with almost identical share price performance (And compare the performance of DV4 -The Riblatt run private vehicle relative to BL since John R was kicked out of BL)

[yellowstoneadvisory] 19/7/2021 07:26

Webinar today at 4pm with British Land CEO Simon Carter. Register here: hxxps://us02web.zoom.us/webinar/register/9116219405891/WN_vKpoV0AGTXSPYzwmznGunQ

[sharesoc] 06/7/2021 10:08

We are hosting a joint ShareSoc/Yellowstone webinar with British Land on the 19th July which may be of interest to current shareholders and potential investors. Simon Carter (CEO) and David Walker (interim CFO) will be presenting: