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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ground Rents Income Fund Plc | GRIO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 21.50 | 08:00:03 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 20.50 | 20.50 | 21.50 | 21.50 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 02/03/2023 | Interim | GBP | 0.005 | 09/03/2023 | 10/03/2023 | 31/03/2023 |
| 30/11/2022 | Interim | GBP | 0.0075 | 08/12/2022 | 09/12/2022 | 30/12/2022 |
| 01/09/2022 | Interim | GBP | 0.0075 | 08/09/2022 | 09/09/2022 | 30/09/2022 |
| 23/05/2022 | Interim | GBP | 0.0075 | 01/06/2022 | 06/06/2022 | 30/06/2022 |
| 10/02/2022 | Interim | GBP | 0.0075 | 17/02/2022 | 18/02/2022 | 11/03/2022 |
| 23/08/2021 | Interim | GBP | 0.009375 | 09/12/2021 | 10/12/2021 | 31/12/2021 |
| 23/08/2021 | Interim | GBP | 0.012375 | 02/09/2021 | 03/09/2021 | 24/09/2021 |
| 28/04/2021 | Interim | GBP | 0.012375 | 06/05/2021 | 07/05/2021 | 28/05/2021 |
| 21/01/2021 | Interim | GBP | 0.012375 | 28/01/2021 | 29/01/2021 | 19/02/2021 |
| 19/10/2020 | Interim | GBP | 0.0099 | 29/10/2020 | 30/10/2020 | 23/11/2020 |
| 06/07/2020 | Interim | GBP | 0.0099 | 16/07/2020 | 17/07/2020 | 10/08/2020 |
| 24/04/2020 | Interim | GBP | 0.0099 | 07/05/2020 | 11/05/2020 | 29/05/2020 |
| 30/01/2020 | Interim | GBP | 0.0099 | 06/02/2020 | 07/02/2020 | 28/02/2020 |
| 13/12/2019 | Interim | GBP | 0.0102 | 19/12/2019 | 20/12/2019 | 10/01/2020 |
| Top Posts |
|---|
Posted at 26/10/2024 07:40 by calton1 Think there seems to be such little interest in GRIO that share price probably hugely undervalues it. |
Posted at 18/7/2024 05:47 by spectoacc Indeed, but this is Labour.My guess is, all future will be Commonhold, and they'll do the previous Tory plans on existing leasehold. Either way, GRIO has been uninvestable for many years IMO (not hindsight - do a search). |
Posted at 17/6/2024 10:14 by elbrus55 If I understand correctly the Westminster estates didn't used to make money from lease charges (usually peppercorn) but rather when they gave permission to the council to change social housing into luxury flats. They could do this because the leases stipulated they should be used only for the working classes - so they argued they could charge a big premium to change the conditions. They lost this argument in court. It is not relevant to GRIO.The loss of contractual rental income has always been compensated at open market value since the 1967 law hasn't it? That law is still in force. |
Posted at 31/5/2024 08:34 by cousinit My post 219 tried to outline how things looked a few months ago.Seems that there have been a few changes. Marriage value seems to have gone, but not sure that's significant for GRIO as leases tend to be very long rather than near the 80 year point. The commercial element has been upped to 50% from 25% so that probably brings more assets in scope for GRIO. My estimate of what is out of scope is about the same as the debt, so protects Santander but not the residual for shareholders. The £250 cap has gone but Labour must surely bring this (or similar) back on to the table. The market is likely to still be dysfunctional for that reason. Like Specto says, the current changes may be enough to create demand for lease extensions, but I suspect most will wait for Labour to plant their flag first. |
Posted at 31/5/2024 07:44 by calton1 Sadly elbruss55 is not correct. When Leashold Reform Act was passed in 1970s the Westminster Estates lost big time. This act allowed long term lessees to enfranchise freeholds in houses (but not flats) for absolute peanuts. Their application to Strasburg under European Convention (the predecessor of current Human Rights laws) was unsuccessful. I fear any application under the latest Act would meet a similar end.But could any of our well informed readers please give me some simple details of what GRIO owns - surely it is not just ground rents on English flats? Sadly when bought shares in GRIO I was lead to believe it was mainly in the commercial sector. |
Posted at 24/4/2024 05:53 by spectoacc Do you rate the alternatives tho? Labour have the right mood music, but as far as I can see there's nothing between the ears. Reeves is lamentable, Sir Keir is from Corbyn era, and whilst I'm fond of Wes Streeting for not avoiding a fight, I can't see him lasting the first NHS strike.We digress, but what Labour do is going to be key to a lot of investments - infrastructure, PFI, house builders, GRIO, utilities etc. Unconvinced much of it is priced in yet. Edit - 7 minutes after posting, an RNS. I'll let someone who holds analyse it. |
Posted at 23/4/2024 12:37 by spectoacc I know there's talk of a £15bn hit to pension funds from it, but still tiny in the context of total assets - a kick it down the road arrangement probably works for them.That doesn't leave GRIO in a good place though. Michael Gove - the best leader Labour never had. |
Posted at 23/4/2024 11:33 by spectoacc Interesting, thanks. I've long regarded GRIO as uninvestable, & the many twists & turns of legislation that STILL isn't law, and still may not be ahead of the Labour govnt, makes it bloody trickier still. But at some point, for the few who understand what's going on, there may eventually be a buy op.Didn't help that they got caught up in that cladding issue with the Manchester block either. Labour have the right mood music but there's going to be a few things they'll hammer - can't see anyone crying for the ground rent landlords. |
Posted at 23/4/2024 11:28 by cousinit I have been trying to interpret the various dripped out snippets from the likely draft legislation.This suggests: Cap of £250pa for ground rent on implementation 20 year transition to peppercorn (no indication of profile of this) Rent foregone by landlord is rolled up to any future lease extension premium calculation My initial stab at assumptions would be: £250 (as a nominal cap) is applied for 5-10 years and then halves for remainder of 20 years Rent foregone is capped at the £250 and not the current level or future lease increases and is probably added in a simple way and doesn't 'compound' over the period 'withheld' Probably some carve outs for commercial leases and those where a lower premium was previously paid in return for an annual ground rent to be payable. Not sure if buy to let investors would be included in the scope of the cap, but I'd assume so. If the above is a flavour of what is likely, then it probably hits the 'newer' ground rents that GRIO holds. The typical GRIO lease seems to be a flat built in the 2010s, with a £250 RPI rent that refixes every 15 years on a 250+ year lease (so were now on the verge of resetting to maybe £500pa). The loss of income, indexation and the next lease extension being maybe 150+ years away makes it very dependent on any rent 'roll up' approach. Compare this to maybe a 125 year lease on a flat built in 1990 with a £50pa rent that doubles every 25 years. Current rent £100pa and lease event likely before lease falls under 80 years, so by 2035. So potentially unaffected before the taper to peppercorn kicks in. |
Posted at 20/11/2023 14:48 by spectoacc If they Tories don't go far enough< GRIO has a Labour administration to look forward to. |
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