The Local Shopping Reit Share Discussion Threads

[eeza] 01/11/2018 12:57

Getting out in the nick of time?



Over 200 shopping centres in crisis.

[tabhair] 01/11/2018 10:46

Soukup talking about blocking cash distributions makes no sense. If you do not trust management as stewards of capital, then why in god's name would you not demand the cash be returned.

He is clearly not happy with the process of the liquidation which is understandable. For better or for worse though, this thing is going to be wrapped by by early next year. No point holding up the return of cash since it will only get gobbled up by admin expenses.

[frazboy] 31/10/2018 20:12

One minor concern for me was that remark by Duncan (in the Thalassa HY update?) as regards not allowing the distribution of cash without his approval. And his recent behaviour with the issuance of the preference shares at Thalassa, for what reason? I don't see that it is in his interest to block the distribution but the boy is a bit of a maverick.

[hindsight] 31/10/2018 15:32

So ball park is 16.4m + 4.2M + 8.08m (9.9m - 18.4%) - windup costs

[topvest] 27/10/2018 19:16

Yes, good point. Should help a little.

[scburbs] 27/10/2018 09:57

Too late to make much difference now, but could help push through the remaining sales.

Chancellor plans High Street rates relief

[tiltonboy] 19/10/2018 16:20

fraz,

They may well have marked them down prior to the auction. I would like to think that 33p was aligned to only receiving what was guide, and any uplift from guide nudged you nearer to 34.5p. On that basis, it looks like nearer to 33p. Hopefully not below!

[skyship] 19/10/2018 16:12

Thnx Tilts - did look, but couldn't find the results - perhaps I had to log in...

[frazboy] 19/10/2018 15:49

I think they may be a bit on the low side of the 33p. What are your thoughts Tilton? I didn't watch either auction but the first one was perhaps 80p in the pound on valuation, perhaps a bit more?Wrap up by mid March?

[tiltonboy] 19/10/2018 14:13

Lot 73 - Wallasey - 200k v 200k
Lot 80 - Kingston - Bids reached 197.5k v 200k - sold after
Lot 91 - Airdrie - sold prior (up for 400k)
Lot 111 - Airdrie - 92.5k v 75k
Lot 118 - Montrose - 60k v 60k
Lot 120 - Forfar - withdrawn

[tiltonboy] 19/10/2018 14:11

Look on the Acuitus website lazy!

[skyship] 19/10/2018 14:10

By the way....anyone able to reveal what happened with the properties listed for yesterday's Acuitus auction?

[skyship] 19/10/2018 14:04

Uptick after Simon Thompson (IC) re-tipped them online today...

[hillofwad] 18/10/2018 06:58

Actius auction will be interesting today . A few banks occupying imposing bespoke properties on shortish leases in good High Street positions which would have been trophy buildings a few years back and gone for skinny yields 5-6%.

However now a real prospect of them not renewing and big question mark over who is likely to be the future occupier

[gbjbaanb] 16/10/2018 17:48

I noticed the Rhyl one went for £280k, guide price of £250k, but 2 of the others were unsold. That's not good.

[tiltonboy] 16/10/2018 13:42

Thanks for the reply hills. Overrented isn't something I would pick up on.

[hillofwad] 16/10/2018 10:37

Tilts

Airdrie

Although on the face of it an attractive looking investment but onerous lease and an over rent situation

I offered this to an investor who buys similar and this was his reaction

"Looks good , BUT……230;……………


Unit 2 way overrented and likely vacate in November or a v substantial rent decrease.

Cydesdale poss ontly to 2021.

GR over priced at £13+k being 10% - Upward only revws, so not coming down.


I can see the rents income becoming 50-60 k net.

Worth about 300K - poss a lot of hassle managing being in the middle of Scotland"

[centipede] 11/10/2018 11:57

Well, this has been a bad investment for me - I bought at about 36!

Could have been worse, I suppose.

Lessons are that it just shows you can't believe NAV, or what this particular management say. They seem to have been motivated to drag things on.

Incidentally, I was contacted some time ago by a researcher asking what I wanted from the firm - this was at the time when they were presumably worried about losing control. I told them very directly that I wanted them to do what they said they would do - just get on with selling the properties.

[hindsight] 11/10/2018 11:08

As you and others have said the bigger stuff would have made more money if split, presuming that was possible

[tiltonboy] 11/10/2018 11:05

What has been interesting is that some of the dross appears to have performed better than the seemingly better quality/higher priced assets.

[sleepy] 11/10/2018 10:52

Am not and never have been a shareholder here but am tempted to say Well Done to Hillofwad

[tiltonboy] 11/10/2018 08:35

...but not as good as the optimists!

[skyship] 11/10/2018 08:12

Certainly better than the doom-mongers were predicting!