The Local Shopping Reit Share Discussion Threads

[skyship] 03/4/2014 18:22

jamie - likewise - a great find and great news for LSR holders. A competitive auction should provide a good end result; an increase in the NAV and even an early distribution.

With 20:20 hindsight we all could have played this better by top-slicing at c32p back in Oct'13. But the VALUE was there then; the VALUE is here now and it looks as though Internos may well start to deliver it sooner than many anticipated.

Well pleased...

[redhill9] 03/4/2014 18:21

Excellent find indeed. It would seem they're intending selling almost half the portfolio £value en bloc along with related debt.

Opening section of costar report:
A portfolio of 234 UK-wide local shopping assets owned by the Local Shopping REIT and offering significant development and asset management opportunities is set to come to market, CoStar News can reveal.
Market sources this week said Internos Global Investors, which was appointed by the Local Shopping REIT Board to execute the proposed orderly sell down of the REIT's investment property portfolio last year, has appointed Allsop to bring to market the portfolio, codenamed Project Minard.

Allsop is selling the entire share capital in two Local Shopping REIT subsidiaries - NOS 2 Ltd and NOS Ltd - which own the legal title to the properties. It is understood that a debt package relating to a loan provided by Barclays Bank is included in the sale.

It is seeking around £80m or circa 8.5% for the portfolio which is understood to comprise 234 shopping assets spread across urban and suburban centres across the UK but with a circa 50% bias towards London, the South East and South West.

[tiltonboy] 03/4/2014 17:50

Excellent find jamie

[jamiejark] 03/4/2014 17:44

Some interesting news today:

hxxp://www.costar.co.uk//en/assets/news/2014/April/Major-UK-wide-retail-portfolio-to-hit-the-market/

[playful] 28/3/2014 08:30

Nice to see we are going in the right direction again.

[skyship] 28/3/2014 08:28

Two largish transactions - 100k & 220k - both look like buys at 29p. Sp responding well; so we are now back up to 29.25-30.0p.

Next routine news not until the Interims at the end of May; though we may get sales news before then. Remember the February IMS reported more than £5m of sales in solicitors hands...

[skyship] 21/3/2014 16:27

Decisions, Decisions! Sounds as though you may be a major beneficiary of the pension revolution...

[badtime] 21/3/2014 12:02

Lol.....maybe a kiosk :)Of course there will be some who will be in a position and will want to buy property....but how many is yet to be known...and commercial is I would have thought even more specialised than btlAs regards to taking my sipp pot it's something I am giving serious consideration (can't do it anyway until next year)...as it could enable me to stay in my current house....even then I still have my ISA pot

[skyship] 21/3/2014 11:48

It all averages out BT - I know your SIPP could buy you the best part of a High Street...but we would miss you on the Boards - so stay with it!

[badtime] 21/3/2014 11:35

Apparently average pension pot is 35k......most won't be in a position to buy property

[gfrae] 21/3/2014 11:32

The budget has helped significantly.
Comercial and retail property is likely to be be seen as a good alternative to buying an annuity.
Where else can you get yields of 7plus%?

[skyship] 20/3/2014 18:30

Hardly Earth shattering, but New Solera back on the scene with a purchase of 51690 @ 27.5p - squeaking them through the 25% threshold.

[redhill9] 17/3/2014 18:27

2. A bizarrely small purchase by a non-exec - an investment of all of £1000

Could it be he's used his director fee to buy shares? Does happen.

[nk104] 17/3/2014 18:17

He's the UK director of Internos isn't he?

3,574 shares doesn't exactly fill me with confidence. Then again, the risk-reward on this one is getting better.

[skyship] 17/3/2014 16:58

BT - no, share price has retreated on a series of small trades not amounting to very much in total. Nothing to worry about.

Since then, two things of interest;

1. A 100k purchase @ 27.5p today

2. A bizarrely small purchase by a non-exec - an investment of all of £1000:

13 March 2014

The Local Shopping REIT plc

Notification of Director's Share Transaction

Pursuant to paragraph 3.1.4R of the Disclosure and Transparency Rules, The Local Shopping REIT plc ("the Company") announces that on 13 March 2014 it was notified by its director Steven Faber that he had purchased 3,574 of the Company's Ordinary Shares of 20 pence each nominal value at a price of 27.75 pence per share.

Following this transaction, Mr Faber is interested in 3,574 of the Company's Ordinary Shares.

[badtime] 13/3/2014 09:56

Do we have a large seller in the background?.......judging by the graph for the last year we should hit support soon..any thoughts sky

[playful] 11/3/2014 13:52

Happy to continue holding and buying on days like today.

[badtime] 11/3/2014 12:12

Few impatient sellers around

[gfrae] 28/2/2014 09:26

AGM on THursday.

[badtime] 27/2/2014 17:48

Nice 97k bu

[skyship] 25/2/2014 10:32

alan - thnx for that.

Sp seems to be moving up of its own accord; much happier now they're back to 30p...

[alanji] 25/2/2014 09:29

Here you go Skyship - I don't think it is going to move the sp, unfortunately!

[skyship] 24/2/2014 18:40

Landlords win Game case

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24 February 2014 | By Sarah Townsend/Property Week

A group of the country's biggest landlords have won a groundbreaking test case to overturn the law on payment of rent during administrations.
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Unable to read the article or the Judgement - but obviously a little bit of supplementary good news for landlords.

[tiltonboy] 15/2/2014 12:17

I would lke to see a meaningful disposal of a portfolio of properties, which should see the price north of 30p.

[gfrae] 15/2/2014 11:08

Reduction of debt,sale of assets at above valuation,income retention,reduction in value of interest rate swaps plus slight improvement in the market probably worth 3 or 4p to NAV since year end.