The Local Shopping Reit Share Discussion Threads

[eeza] 11/10/2018 07:42

RNS - Sales update

[frazboy] 11/10/2018 07:28

6 months ago that would have been a disappointing result, now it seems pretty good

[tiltonboy] 11/10/2018 07:13

Happy with 33-34.5p

[tiltonboy] 09/10/2018 10:41

strath,

I had forgotten about your post 2810.

Indeed, the Airdrie property at 400k looks painful, but perhaps they have priced it that low to get some interest. Perhaps Hills will give us the benefit of his experience as to why it is struggling to sell.

So the full lot (unless you point out otherwise) for Acuitus is:

Lot 73 - Wallasey
Lot 80 - Kingston
Lot 91 - Airdrie
Lot 111 - Airdrie
Lot 118 - Montrose
Lot 120 - Forfar

[tiltonboy] 08/10/2018 15:59

Some of those would have gone down well in an online auction I would have thought.

Some chunky yields, which could involve some hefty write-downs if they only fetch close to guide.

Might be tempted by Lot 82 myself.

[strathroyal] 08/10/2018 15:28

Must be getting near to the end now. I see that Nos 4 & Nos 6 have now satisfied all charges. Also there are a further 10 properties for sale in the next Allsop auction (Lots 50, 53, 62, 63, 64, 69, 70, 73, 82 & 83)

[frazboy] 05/10/2018 13:52

Would be nice to have an update on progress. I can only assume that the lack of one means there hasn't been much - it's the portfolio sale, that I'm particularly keen to hear about, we know where we are on the auctions

[skyship] 28/9/2018 12:00

They had surpluses elsewhere - so perhaps better just to get shot of it!

[strathroyal] 28/9/2018 11:04

Had a quick look at the forthcoming Allsop and Acuitus auctions. I see that Acuitus are now selling the Airdrie property (Lot 91)at £400K -ouch! It would also seem that they didn't sell the Scottish portfolio as Lots 111, 118 and 120 seem to have been part of this.

[profitaker] 17/9/2018 16:23

Gloucester yields 10.8% which is still pretty good. I was put off by it being a listed building, otherwise I'd have had a go. Looking forward to their next offering.

[tiltonboy] 17/9/2018 16:06

Obviously disappointed with Clacton, but others went at pretty decent prices.

I would be disappointed if there wasn't a small surplus on book.

[hillofwad] 17/9/2018 15:48

Pretty good set of results there

[hindsight] 17/9/2018 15:46

frazboy
17 Sep '18 - 14:57 - 2803 of 2805
0 0 0
Yes, another case of why not split them.


Agreed

[skyship] 17/9/2018 15:36

Glos goes for £111k...

[frazboy] 17/9/2018 15:06

Liverpool now taking the baton, £577k and counting

[frazboy] 17/9/2018 14:57

Yes, another case of why not split them.

[tiltonboy] 17/9/2018 14:54

Not a single bid on Clacton.

[tiltonboy] 17/9/2018 14:32

Went to put a bid in at 86k, then 9 bids went in, in the next minute

[tiltonboy] 17/9/2018 14:32

Lot 1 - 377k...nice

[hillofwad] 17/9/2018 13:49

Current bid on Gloucester is £95k Is that you Tilts?

[tiltonboy] 17/9/2018 12:11

Significant interest in Lot 1. Minimum 250k, and already up to 305k.

Lots 8 and 10 also above minimum/

[gfrae] 17/9/2018 09:53

A possible additional hurdle for LSR , though mutual self interest (as with the EU ) should prevail.

[frazboy] 17/9/2018 07:38

From Thalassa’s HY results:

“Thalassa currently owns 25.48% of The Local Shopping REIT plc ("LSR"). The liquidation of the company's assets continues apace; unfortunately, the losses incurred on disposal also continue apace. We are clearly unhappy with the level of cost that LSR and, therefore, its shareholders are incurring whilst its advisers, managers and consultants are rewarded for generating ever increasing losses!

THAL's 25% holding does, however, represent 'negative equity control', which, bluntly put means that LSR will be unable to distribute any cash to its shareholders beyond the sum of its retained earnings (currently GBP8.1m but dwindling fast) without an extraordinary resolution requiring 75% of the votes cast at the meeting. Clearly no such majority can be achieved without Thalassa's votes.

Thalassa accounts for its holding in LSR as an associate company. As a result, Thalassa's current holding cost basis is +/-29.6p per share, which does not reflect the +/-2.5p per share of Forex hedging gains that the Company has also realised and booked.

I believe that Thalassa shareholders will do well out of the Company's investment in LSR, in spite of LSR's woeful performance!”

Make of that what you will!

[hillofwad] 29/8/2018 16:19

Ex Valley boy here Skyship . Busiest spot in Ebbw Vale is the metal container in the Festival Shopping Centre car park buying second hand clothes !

[skyship] 29/8/2018 13:03

Prime property in that neck of the woods surely...😁