The Local Shopping Reit Share Discussion Threads

[tiltonboy] 25/9/2015 15:12

So New Solera are out of the way, and we know that Damille picked up some of the stock, but where did the rest go!

[badtime] 25/9/2015 15:04

Did DH..get there's from NS

[skyship] 25/9/2015 14:39

Also bt back 20k I trimmed a few weeks ago...

[badtime] 25/9/2015 13:55

Agreed Tilts ..I added yesterday

[tiltonboy] 25/9/2015 13:07

Nice to see Damille increasing their holding. Managed to pick a few up this morning.

[gfrae] 24/9/2015 09:28

Seller around.100 cheap ones available at 24.95.

[badtime] 24/9/2015 00:31

Tilts because he is on the xmas card list..plus i do have a day job :)

[my retirement fund] 23/9/2015 22:22

Dont bother they will be somewhere hot in the world having a jolly on the back of mugs like us and far to busy to reply!

[tiltonboy] 23/9/2015 21:40

How about you doing some for a change!!!

[badtime] 23/9/2015 20:18

Sky how about giving them a buzz :)

[skyship] 27/8/2015 09:35

Agree with yr 1126 above - "had become".

Hopefully from here matters will start to improve; especially after the debt retires in c 9months time...

Upside Stats (basic, not annualised):

28p 32p + 14%
28p 34p + 21%
28p 36p + 29%
28p 38p + 36%
28p 40p + 43%

[my retirement fund] 27/8/2015 09:13

GRY% Stats:28p 27p -5%28p 25p -10%28p 22p -15%28p 19p -25%28p 0p -100% ;-)

[my retirement fund] 27/8/2015 09:10

A right pile of preverbial stinking poo this had become!

[gfrae] 16/7/2015 08:19

The avg price of the properties for sale is only about £100,000 so they are not the cream. Looks like they are sensibly trying to get rid of the lower quality ones first.

[skyship] 13/7/2015 14:04

Also Change of Use certificates from commercial to residential are likely now to be far easier to achieve. With the last EPRA NAV at 47p I'm far more hopeful than Redhill of a good outcome here.

Looks as though the cheap stock at 26p may now be unlikely...

[scburbs] 13/7/2015 12:46

They are generally selling individual lots at a 15-20% average premium to book, although these are quoted gross of disposal costs. I expect a fair chunk of these are residential properties which are carried at a 15% discount to vacant possession value (i.e. a sale at vacant possession value would represent a 17.6% premium over book).

The inherent vacant possession discount and the swap reversal represent over £5m of future value to set against losses on less appealing properties and still achieve the current basic NAV + operating profits.

[redhill9] 13/7/2015 11:17

Skyship, I somehow doubt the final value will be any higher than your lower 38p, however as an uplift from the current Bid price of 26.5p for anyone currently holding that suggests c.14% p.a. with the outside possibility of more.

Tiltonboy, agreed about interesting to see how sale price compares to carried value but it's probable proerties currently being sold are the more appealing so that may not give too much of an indication of potential value of remainder. However, if current properties are sold at some way below NAV I think that would probably be a very worrying signal.

[skyship] 13/7/2015 11:06

True. Also interesting to see whether DIL2 take on a few more...

[tiltonboy] 13/7/2015 10:59

It will be interesting to see how close to book value the current properties under offer fetch!

35 seperate transactions might come with a decent slug of legals.

[skyship] 13/7/2015 10:55

Absolutely. On the basis of the stats below I'm watching today in case nervous sellers take this back to 26p:

GRY stats:

Sp.....Return by .....GRY%
.......31/03/18
---------------------------

28p......38p..........11.9%
28p......40p..........14.0%
28p......42p..........16.1%

[badtime] 13/7/2015 10:42

Well i don't think anyone expected anything different from that ...on the upside a few properties under offer and as they mention freedom from interest rate hedges eventually

[redhill9] 13/7/2015 10:39

Portfolio sale has fallen through.



RNS Number : 8563S
Local Shopping REIT (The) PLC
13 July 2015
The Local Shopping REIT plc ("the Company")
In its half-year report the Company stated that it was in discussions with a party interested in purchasing the Company's remaining property assets. These discussions have not led to a transaction and have been concluded. As stated in the half-year report, the Company will continue with its programme of selling individual assets and small portfolios. The sales programme continued during the recent discussions and property sales since the change in investment strategy in July 2013 have reached GBP88.15 million, with a further GBP3.73 million currently under offer in 35 separate transactions. The sales programme will have regard to the increased flexibility that is likely to arise from expiry of majority of the Company's interest rate hedges in June 2016. Our target of completing the disposal process by the end of 2017 and returning cash to shareholders as soon as possible thereafter remains unchanged.
ENDS


However, if they do manage to sell everything by end 2017 the return from here may not be too bad but I suspect way below the c.40p per share previously anticipated.

[badtime] 09/7/2015 21:06

So Eeza all shops will give up?

[horndean eagle] 09/7/2015 19:53

All a fuss about nothing. Living wage applies to 25 year old plus.