Lxb Retail Properties Share Discussion Threads

[jlo10] 19/12/2015 12:57

M9999
If you look on the accounts tab - the bottom menu option is director dealings.
It shows the transaction and the % held
I'm not sure that it is always 100% accurate but it's in the ballpark

[melody9999] 19/12/2015 10:48

Thanks jlo 695. Did you pull the % from Stockopedia? I am a subscriber but did noit think they showed Dierctor holdings?

[mad foetus] 17/12/2015 10:09

this is turning into a very nice investment indeed.

[badtime] 17/12/2015 09:37

Nudging up nicely....low 80's seems a distant memory now

[badtime] 16/12/2015 16:06

Thnx Tilts

[tiltonboy] 16/12/2015 14:44

Stifel have upgraded LXB to buy, with a 110p target. They are looking for a terminal NAV of 120p.

[jlo10] 12/12/2015 12:26

Tim Walton holds 4.04%
A Irvine holds 1.42%
G Haywood 0.1%
J McCarthy 0.66%
B O'grady 0.67%
S Webb and J Duffield 0.11% each
N Alford 1.41%
C Barrand 1.09%

There was a good bit of buying in Summer especially from Tim Walton who bought 2.7m to move up to over 4%

All according to Stockopedia

[melody9999] 12/12/2015 10:21

What interest to the Directors have? ie are they aligned with our interests?

I see the leader on this thread comments that Tim Walton is the main man, but my Morningstar info does not show him as a shareholder. Perhaps he has an interest via some other investment vehicle? Can anyone clarify?

[winsome147] 11/12/2015 18:43

When the planning consents for the 2 Truro developments which have recently been given the green light come through then the official valuations on the land should be raised siginificantly. Almost 600 houses will be added on top of the commerical bits. A very rough estimate would imply at least a 10% uplift in total NAV for those 2 developments alone. Am I right?

[tiltonboy] 11/12/2015 13:39

mf,

It will be accretive to NAV, and should give sufficient liquidity to those that want an earlier exit. It changes the dynamics of the return of capital, and I now expect a 55p payout in the Spring rather than 70p, but should the buy-back be fully utilised, it might add a couple of coppers to the final distribution.

[mad foetus] 11/12/2015 13:02

what do you lot make of the £16m share buyback programme? I've not seen one in the context of a company that is being wound up: presumably it reflects a belief that the share price is at a significant discount to NAV, and benefits primarily those who hold onto their shares.

[loobrush] 11/12/2015 12:39

All looks very good to me with asset value at Sept of 104p which as we know is only the value at that time and will increase significantly on completions.
Also excellent news that they intend to return all moneys as the developments complete.
Will be very interesting when they give update in January with I expect details of what they expect final asset values to be.I'm still of the view it will be between 130-140p
All in all things are going very well.

[badtime] 11/12/2015 12:19

I'm stuffed with them as it is otherwise I'd do the same

[tiltonboy] 11/12/2015 11:19

Bought more this morning.

[badtime] 11/12/2015 10:59

Buying anymore Tilts? :)

[tiltonboy] 11/12/2015 10:56

The £16m buy-back should ensure that the price remains at these higher levels. Stifel have an NAV target of 120-130p. I could cope with that by March 17.

[mad foetus] 11/12/2015 10:52

I'm a little surprised the NAV isn't higher: looks like we have to wait for the New Year update to understand what it is. But all in all, not bad and share price nudging higher.

[winsome147] 11/12/2015 08:00

Finally a proposed wind up date of 15 months from now. If they can getting everything away at close to 120pps then it won't be a bad return based on today's share price although I thought that reported fair NAV would have been a bit higher. Seems much of the risk has been eliminated now.

[mad foetus] 08/12/2015 11:31

It is good news although it is a little opaque. The RNS says the following:

early 2016....GBP22.8m will be received.

when it becomes unconditional, a further uplift to NAV (when compared with the 31 March 2015 property valuation) of GBP3.7m (2p per share) will be crystallised.

A further cash receipt, which is currently estimated to be GBP5.2m, will be received once the scheme has achieved Practical Completion...in October 2016.

Is the overall uplift to NAV the £3.7m that gets paid in the Spring, or is there more to come when the £5.2m is paid next autumn?

Hopefully the results will clarify the overall position, I think LXB have been very busy on lots of fronts so getting an overall view isn't straightforward.

[nk104] 08/12/2015 11:15

Unless I'm missing something this looks like good news!

[18bt] 08/12/2015 10:54

More news with finals on Friday I'd hope

[tiltonboy] 08/12/2015 09:59

Great news. I wasn't expecting that, this soon.

Could we now see a 70p payout in the Spring!

[mad foetus] 08/12/2015 09:52

Good news:
"Conditional disposal of investment at Brocklebank, Greenwich

On 7 December 2015 LXB Retail Properties Plc, the Jersey resident closed-ended real estate investment company focused on edge of town and out of town retail assets, exchanged contracts for the sale of its investment at Brocklebank, Greenwich to The Charities Property Fund, managed by Savills Investment Management. The sale is conditional on fulfilment of certain construction and letting related matters. These are all in hand and are expected to be satisfied by early 2016, at which point the purchase will be unconditional and initial cash proceeds of GBP22.8m will be received.

In addition, The Charities Property Fund will fund the development costs with the Group retaining responsibility for overseeing the development of Brocklebank Retail Park and for letting the final remaining unit, pre-lets having already been exchanged with Primark, Next and Aldi.

This agreement reflects an underlying yield of 4.25% for this investment and when it becomes unconditional, a further uplift to NAV (when compared with the 31 March 2015 property valuation) of GBP3.7m (2p per share) will be crystallised.

A further cash receipt, which is currently estimated to be GBP5.2m, will be received once the scheme has achieved Practical Completion and when all of the Leases have been completed. The quantum of this balance is dependent on both the final letting terms achieved on the remaining unit and the total development costs, but practical completion is currently expected to occur in October 2016.

Commenting on this exchange of contracts, Tim Walton, CEO of LXB Adviser LLP said:-

'This is excellent news for the shareholders of LXB Retail Properties Plc and a testament to the quality of the Group's investments. The final outcome in terms of NAV accretion is dependent on the terms which can be achieved on the final unit but with adjacency to three major retail brands in a great (and growing) catchment area, there is every reason to be optimistic.'