Invesco Uk Property Income Trust Share Discussion Threads

[chrisgail] 07/7/2011 20:39

My view on the results are a small step in the right direction in very difficult market conditions in Europe. Can't fault the bank/s for the time they are giving the company to trade out of this situation but I'm sure the Bank/s will make sure they get their pound of flesh long before we do.

[investor_tp] 07/7/2011 12:34

The vacancy rate in Europe is really quite shocking: 20% ! Not to mention the rather short weighted average unexpired lease terms there. On the upside, that hopefully also means that values will increase quite sharply as leases are (hopefully) renewed and new lets agreed. According to a diagram in the last Economist ( - note the "in real terms") the commercial property market in France might have bottomed out last year, which is welcome news given that ca. 35% of IPI's portfolio is in France.

Another thing: "During the period a total of £9.97 million of debt was repaid following the sale of Pegasus House, Peterborough". The sale price was £11.5m, what happened to the other £1.5m? Fees? Interest rate swap repayment? And why was there no other income to pay down debts with? There should be a few million quid income per quarter at least, no? (Or maybe there was, and the fees or swap payments were even larger?)

Don't know what to think of this share at all at the moment. Hard to say without having the slightest idea what the deal with the banks might look like (Warrants? But at what conditions? Surely there's a limit to the upside by 2013 as well..)

[flyingswan] 07/7/2011 11:23

Any views on Yesterday Property Valuation?

...In Sterling terms the total valuation was £207.21 million, up 2.4% on a like for like basis. The UK values were flat but there was improvement in the European values, enhanced slightly by positive currency movements.

Set out below is an analysis, taking into account transactions, of the portfolio's vacancy rates, weighted average gross yields and unexpired lease terms at 30 June 2011 (31 March 2011)....

[asmodeus] 20/6/2011 16:30

Many thanks,,inv_tp. Edit: I see there has just been a sale of 500,000 at 1.25. Perhaps there was advance warning of that?

[investor_tp] 20/6/2011 16:29

asmodeus: this share is hardly traded at all these days, very illiquid and the spread is ridiculous. Even tiny trades (of GBP1000-2000) can move the mid-SP a lot.

[asmodeus] 20/6/2011 16:22

It would be good if your posts - or anybody's - would offer an explanation for the 18.8% drop in share price today...

[flyingswan] 20/6/2011 16:17

I third that - but I do have Free will and will please myself.

[specuvestor] 20/6/2011 13:17

I second that!

[investor_tp] 20/6/2011 10:04

FlyingSwan: could you please stop posting random news that are for the most part completely unrelated to this stock? (eg. news about residential property, or general stock market sentiment)

[flyingswan] 20/6/2011 09:15

Private investors have been piling into the stock market despite the volatility caused by worries of a debt crisis in eurozone countries. Poor returns on savings due to record low interest rates helped push retail shareholdings to £237bn in May, the highest since before the credit crunch, according to a study by Capita Registrars, the Daily Express reports.

[flyingswan] 17/6/2011 12:06

Rents hit a high in May:

[knowing] 15/6/2011 13:27

Yes just been reading up a bit

[flyingswan] 15/6/2011 13:25

Hi Knowing, my share are in my ISA too. It looks like commercial property is continuing to recover.

[asmodeus] 15/6/2011 12:33

Yes. I've got it in mine.

[knowing] 15/6/2011 10:58

Can this go in an ISA?

[asmodeus] 14/6/2011 11:47

Thanks, FS.

[flyingswan] 14/6/2011 11:12

Asmodeus... I think the Monthly Index may be the reason:

Slowdown in European commercial property values
European commercial property values saw another month of positive growth in the first quarter of 2011, according to the latest CB Richard Ellis European Valuation Monitor, albeit at a slower pace compared with Q4 2010.

The report, which indicates that commercial finance also saw sustained availability, shows that property values rose by 0.4 per cent in the first three months of the year, down from the 1.2 per cent rise seen in the previous quarter.

"Value growth remains positive but gradual, reflecting an absence of strong movements in either rents or yields this quarter," said Richard Holberton, director of EMEA research at CB Richard Ellis...


and

Central London offices continue to outperform rest of the UK

According to CBRE's May UK Monthly Index, commercial property in the UK secured another month of positive capital growth, albeit muted at 0.2%, delivering total returns of 0.7%. This is a slight improvement on the April return figure of 0.6%, where growth was affected by softer investor activity. Again it was the office sector that saw the greatest divergence of performance, with office space in Central London continuing to outperform all other sectors with values up by 0.6%, whilst outside of London offices in the UK suffered a fall of 0.5%...

[asmodeus] 14/6/2011 10:10

Any idea why?

[flyingswan] 09/6/2011 13:53

CBRE: European capital values continue positive performance (EU)
Wednesday 8 June 2011
European commercial property values continued to increase in the first quarter (Q1) of 2011 (+0.4%), but at a slower rate than seen in Q4 2010 (+1.2%), according to CB Richard Ellis' (CBRE) Q1 2011 European Valuation Monitor...

[flyingswan] 27/5/2011 09:48

Invesco Property Income Trust Limited

HEADLINE: Disposal of Property

The Directors of Invesco Property Income Trust are pleased to announce the simultaneous exchange and completion of the sale of the Pegasus House, Peterborough, for £11.5 million.

In the final quarter of 2010, an additional 7 year lease extension was agreed with the existing tenant, providing 10 years certain from June 2010, at the same rent. The valuation as a result was increased from £7.89m to £11.5m, a 46% increase. The sale price matches the March 2011 valuation.

The net proceeds of sale will be used to repay bank borrowings and interest rate swaps.

Commenting on this disposal, Richard Barnes, Chairman of the Company, said:

"We are very pleased to have crystallised the value created through the asset management success. The sale enables the Company to continue the ongoing reduction in its borrowing levels. "

Does anyone know what the new level of Borrowing will be?

[semoy] 26/5/2011 11:50

Excellent news re the Sale though gents

[gazmat] 26/5/2011 11:43

However, IPI have just announced the sale of Pegasus House, Peterborough for £11.5m, the proceeds of which will be used to pay off debt.

[gazmat] 26/5/2011 10:55

Flying Swan - a quick Google search shows it is nothing to do with IPI. I doubt IPI will be buying anything in the foreseeable future, let alone a £140m property!

[flyingswan] 26/5/2011 10:45

Not sure if this is IPI or another division of Invesco: