Newriver Reit Share Discussion Threads

[nickrl] 18/11/2023 09:40

The RCF had nil drawings against at FY23 so you have to wonder why they want such a large facility anyhow especially as it will no doubt be attracting a commitment fee of c 0.7%.

[dartboard1] 17/11/2023 21:34

Listening to the British land presentation ... they seem to be quite bullish on the retail parks area of their portfolio ... good place to be in the current market I think

[mindthestash] 17/11/2023 16:08

Sadly we're getting used to this sort of ignorance from boards. of all people you'd think and FD might cough up the pertinent figures which he's surely already done for colleagues/board. However it seems i;m just an old crusty as the share price is heading north with the REIT herd despite falls in retail sales and regulatory announcements written in cuddly sound-bites of positivity.............

moan over.

[gbjbaanb] 17/11/2023 15:25

The media didn't seem to know this exists, any article I found about reits talks of a handful of popular ones and this is not in that list!

[lord gnome] 16/11/2023 08:25

Very quiet on here recently.

I read today's RNS as very positive. In an era of high interest rates, they say that they have managed to refinance the RCF at lower cost. 'Headline margin' reduced. Unfortunately it doesn't say from what or to what, so we are left guessing.
My best guess is that it has been reduced from extortionate to eye-watering. Whatever, progress is being made. The market seems unimpressed, but no surprise there.

[marksp2011] 14/8/2023 12:51

Let's hope Lockhart isn't getting a bonus based on deposited cash

[nickrl] 11/8/2023 18:13

CAL yesterday identified that rent exposure to Wilko was 0.65m in addition if stores got vacated they would also be in for another 0.9m additional store costs. Just used as an example that its not only the rent loss that has to be taken into consideration. That said BM and the supermarket discounters could be interested in many of the sites potnetially.

[lord gnome] 10/8/2023 12:48

Almost certainly frazboy but it won’t be a substantial exposure. Wilco doesn’t feature in the top ten tenants, so the maximum risk will be less than 1.5%.

[frazboy] 10/8/2023 12:28

Do NRR have any direct exposure to Wilko, anyone know?

[nickrl] 26/7/2023 08:30

Wasn't sure of the logic of the disposals but as long as they count the 5% income on the cash as part of the FFO im content to hold my position. Unlike my view with EPIC at the time im happy for them to sit on the cash and be ready to move when asset prices become more favourable.

[chucko1] 26/7/2023 07:49

Nice to see they have trumpeted the 5% they are earning on the £137mn cash. Something that EPIC appear very bashful about, to the point of investor incomprehension.

Still to be tested as and when recessionary pressures become more evident, but they do reckon on the essential nature of their tenants' offerings.

[lord gnome] 26/7/2023 07:32

A very punchy update for the AGM today. Seems to be sailing along nicely. Just needs the share price to catch up with the progress being achieved. Happy to continue to hold.

[lord gnome] 28/6/2023 08:50

No, it struck me as a rather odd move. I guess that with the joint venture being wound up both parties wanted out with a clean break and a big cheque.

[nickrl] 28/6/2023 08:46

Not sure of the logic of selling high yielding retail pks (avg 7.6%) and paying down debt (3.5%) when it is fixed for years at such a competitive rate but maybe as they were held in the JV they had no choice. Also can they pay down the bond at will or do they have buy them back on open market/tender offer?

Can't see it helping to boost the divi any further now

[porsche1945] 09/6/2023 10:10

God U.K. shares suck. This has collapsed by two thirds since 2018, like pretty much the entire 350 and small caps. Foreign buyers don’t want U.K. “ assets “ since brexit, just a total wealth destructive disaster. Terminal

[nickrl] 08/6/2023 09:11

The divi was always going to be down with the loss of Hawthorn income stream. The issue here is rental growth looks pretty neutral now so divi growth from here looks minimal. They also have a stash of cash on the books and are at least doing better than EPIC for getting a few quid on it but what is the plan for that cash? Selling the workout assets raises a few quid but their forgiving decent rental income as these properties don't appear to be as badly performing. For the umpteenth year they talk up the development sites but they've still to find someone to come in alongside them. Anyhow as they have a sensible divi policy i do keep a small holding in here.

[mindthestash] 06/6/2023 11:35

Getting planning before punative social housing tarrifs from labour gov would make sense. Resi alternative values may crumble.

[dhoult12] 06/6/2023 11:13

When did they start mentioning these flats in Bexley heath? Or Grays? Must be 5 years at least.
Need to get one of these residential developments sold/over the line before market reacts to change in valuation potential of the rest.
Rest looks good. Last divi had benefit of the pubs in there as well.

[mindthestash] 06/6/2023 09:03

divi down but rest of it looks rock solid
focused on the day job

upside looking ahead from sale out of regen centres assuming better returns from redevelopment than holding

"We have three Regeneration assets, representing 23% of the total portfolio value, for which we have planning consent for: 187 residential units, over 850 residential units at the pre-planning application stage and a further 350 residential units in the masterplan stage for phase one. None of these projects will be built-out by NewRiver as our intention is to deliver value either through sale or by partnering with residential developers, once planning consents are secured."

[marksp2011] 06/6/2023 07:38

Seems reasonably positive but will be reported as a dividend cut

[orchestralis] 02/6/2023 08:29

Results on Tuesday

[grahamburn] 14/4/2023 12:11

Shore Capital has apparently just produced a positive report on NRR's prospects. Anyone seen it?