The Local Shopping Reit Share Discussion Threads

[hillofwad] 11/7/2018 14:42

Some good prices being achieved so far at Actius today Some 7 figure lots too

[hillofwad] 11/7/2018 13:12

hxxps://www.propertyweek.com/private-investor-and-auctions/allsop-brings-in-80m-from-127-lots-at-commercial-sale/5097593.article?utm_source=dlvr.it&utm_medium=twitter

Duncan referring to a"cautious "market

[gfrae] 11/7/2018 12:49

It's a coincidence.

[skyship] 11/7/2018 11:20

80k sold @ c31p ahead of today's Acuitus auction...

[hillofwad] 04/7/2018 12:53

Fair play 174 -great price £153k got that wrong but 178 £120k not so clever it really is a poker game for some of these

[tiltonboy] 03/7/2018 13:12

Lot 155 - Westcliff - also withdrawn

[tiltonboy] 28/6/2018 15:28

Lot 154 - Southampton/Paddy Power - Withdrawn

[tiltonboy] 20/6/2018 15:52

Thanks strath, I have amended my original message.

[strathroyal] 20/6/2018 15:38

Tilts - Just one more - 86 - but it is getting confusing as looking at previous Acuitus auctions the Swansea property sold in May 2017, also at £90k so I presume buyer didn't complete.

[tiltonboy] 20/6/2018 14:49

Once again, I await strath to complete the list...but as far as I can see, we have 5 in the Acuitus July auction: Lots 67,84,85,86,87,and 89.

I thought a couple of those had sold previously!

If we could get £1.8m for those, it wouldn't be too bad.

[hindsight] 15/6/2018 12:52

I appreciate hearing the case on both sides. What seems clear to me is the property managers dont do a lot, something I learnt in the early days of being a private landlord. Their only value is the chinese wall.

[hillofwad] 15/6/2018 12:05

I don't want to put anyone off These auction sales could land anywhere as you only need 2 bidders The point I am making is that what seems to be coming through is similar lots and it doesn't seem that there are any crown jewels left

[sleepy] 15/6/2018 10:57

hillofwad - I appreciate your posts here and thank you for your part in influencing me not to become a shareholder

[hillofwad] 15/6/2018 10:00

Just disappointed that they don't seem to have made any effort in preparing these properties for sale properly No excuses after owning these for sometime that the upper parts haven't been inspected etc

[redhill9] 15/6/2018 08:18

hillofwad, you really are a little ray of sunshine!

I think you've repeated your message of doom and gloom enough times now for us to "get it" don't you?

[hillofwad] 15/6/2018 06:36

Many posters here have been labouring under the misunderstanding that they have been saving the best til last.A quick scanty at the properties heading for auction should dispel that theory.A real pile of licquorice allsorts.Plenty with just a couple of years left on leases.The question is have they actively asset managed? and tried to hook them for longer. Too many heading for auction where the words upper parts not inspected. Surely someone at sometime even when they bought would have a note of the measurements.Disappointing.

[hillofwad] 14/6/2018 11:26

Lot 178

hxxps://www.auction.co.uk/commercial/LotDetails.asp?A=1056&MP=24&ID=1056000178&S=L&O=A

Another complete punt with one empty shop,one let on short lease and resi upper sold off . This seems to be typical of what is left A pig's ear .

Another nightmare to accurately value value plus or minus 15% Could sell for as low as £100k

[hillofwad] 14/6/2018 09:41

LOT 174 Margate Allsop's is another interesting one .A valuation conundrum ! The tenant on a lease on FRI terms expiring in a couple of years at a fullish rent .Judging from the photo indicates plenty of dilapidations which in theory the tenant will be on the hook for !

hxxps://www.auction.co.uk/commercial/LotDetails.asp?A=1056&MP=24&ID=1056000174&S=L&O=A

Getting anything out of him is another matter as he will argue diminution in value to the reversion or do a moonlight flit .Certainly one to buy in for the tenant if they can raise the necessary and avoid paying that hefty rent Again this could end up anywhere Price guide £125/150k
Typical example of how difficult to value these type of properties for book
I would say £118k

They should have issued the tenant with an Interim schedule of dilapidations as its close to lease expiry

[frazboy] 13/6/2018 18:41

Thanks for that Strath. I'm more familiar with Edinburgh residential property than commercial but i would expect those properties to find an owner, as although not grade A, they're in relatively buoyant/upcoming parts of the city

[tiltonboy] 13/6/2018 12:00

Thanks for highlighting strath.

[strathroyal] 13/6/2018 10:38

New one on Acuitus, 14 Edinburgh properties for £950,000.

[hillofwad] 11/6/2018 09:08

As for 155 with 3 shop vacancies another shot in the dark .This one really is a spanner

[hillofwad] 11/6/2018 09:05

Take lot 154 for example. Southampton One tenant holding over on a lease so big question mark over that income and Paddy Power on a short lease paying a hefty rent with the resi uppers sold off . Investors banking on Paddy renewing where bookmakers are increasingly online

This really could go anywhere between £385k and £450k

[hillofwad] 11/6/2018 08:51

Yes maybe but general feel in the secondary property investment is less robust.

[eeza] 11/6/2018 07:46

But interesting also because LSR Sp is drifting upwards.