Newriver Reit Share Discussion Threads

[spectoacc] 11/12/2019 11:08

Not sure where NRR is funding it from - is it another JV deal?

[eeza] 11/12/2019 10:57

Market doesn't seem impressed.

[spectoacc] 11/12/2019 10:45

PLI seem to be sticking with him - and clearly Invesco have taken loss of EDIN mandate over ditching him.

[diggybee] 11/12/2019 10:37

Still leaves barnet with over 20% though?

[spectoacc] 11/12/2019 10:25

As I've often said - far better to be the buyer from distressed sellers, than the legacy operator trying to get out.

[porsche boxster] 11/12/2019 10:19

Looks like a great deal, if this completes.


Aberdeen Standard Investments has agreed a deal to sell the biggest asset in its troubled open-ended fund, Property Week can reveal.

NewRiver is under offer to buy The Moor shopping centre in Sheffield for around £85m, which accounts for 7% of the fund’s holdings.

Last month, Aberdeen Standard put the mall, which is owned by its Aberdeen UK Property Fund, on the market via agents Jackson Criss with an asking price of £89.4m.

Tenants at the 900,000 sq ft shopping centre include Primark, GAP, JD Sports, Next, New Look and H&M. The mall also houses The Light Cinema, as well as Sainsbury’s and Iceland supermarkets.

The Moor, which sits on a 23-acre site, has a weighted average unexpired lease term (WAULT) of more than 10 years and generates around £7m a year in rent.

Investors have rushed to withdraw tens of millions from the £1.3bn Aberdeen UK Property Fund following the suspension of an M&G open-ended fund last week.

On Wednesday last week, outflows from the Aberdeen Standard fund reached £31m - the same amount of withdrawals from the previous four months combined, according to data provider Morningstar.

The fund is particularly exposed to retail and has seen its performance plummet over the last few months.

The sudden withdrawals have sparked concerns that the freezing of the M&G Property Portfolio fund could lead to other suspensions, creating a domino effect.

[spectoacc] 11/12/2019 09:59

EDIN take at least 2 years too long to dump Barnett, then replace him with the underperforming MAJE bloke. Dunno - they're rather fond of their own funds but from the MAJE IT the biggest single-equity holdings are:

BP - Shell - GSK - TSCO - PSON - ECM - MRW - Barrick Gold - ABF - BA. - LGEN - BARC - Orange SA.

Be surprised if there's room for NRR to remain, but 3.17% isn't much of an overhang and disposal isn't imminent.

[einsensei] 11/12/2019 09:46

Invesco Barnett's control over 3.17% of NRR should pass to Majedie in Q12020 with the Manager change at EDIN

[spectoacc] 11/12/2019 07:08

How many employees do NRR have? Over 250? ;)

[chucko1] 10/12/2019 17:47

A levelling of the on-line/bricks tax treatments would be a help. Labour would likely favour that.

OK, I’m changing my mind, if Jezza get the nod, I’m all in on NRR. LEVERAGED. Sod risk management.

You would actually have a window of opportunity to get in. Possibly below £1.

[davvero] 10/12/2019 15:48

I think whatever the government they will all want to improve the high streets and business and neglected areas.... that's a must, and everyone is committed to that... Commercial/ or commerccial-socially linked projects and businesses will get plenty of help, in grants, rental facilitiess, etc... housing/property is in for a bonanza in 2020.... Unless we get a hung parliamnet not allowing the new governent to focus on the economy

[spectoacc] 10/12/2019 15:17

Ha ha maybe - but lots of profit? No.

Labour can't win IMO, but they can govern (well - that's a matter of opinion).

[spectoacc] 10/12/2019 14:28

Ha ha, thanks @chucko1.

Seeing Boris now, does make me wonder how Londoners elected him twice.

Sunday Times reckons the northern Labour heartlands will carry it for the Tories - maybe. My money's where my mouth is tho, hung Parliament, Labour govnt.

[speedsgh] 10/12/2019 14:22

Barclays Capital today reaffirms its equal weight investment rating on NewRiver Retail Ltd (LON:NRR) and cut its price target to 200p (from 215p).

[chucko1] 10/12/2019 13:44

I think Boris has the capacity to grow up over time into the job. A different character is required to get the job as compared with doing the job. In industry, I find it’s the wrong way round whereby the wrong people find ways of keeping their noses clean and manipulate their way upwards. Recall the cases of lawyers getting the top jobs at banks. Unmitigated disaster.

Well, that’s the hope, at any rate for BJ. Whatever, the alternatives are a horror story.

SpectoAcc, chill.

[hpcg] 10/12/2019 10:04

Very few people are voting for anyone - they are voting against the cretins they have most contempt for, whilst holding their nose to vote for the slightly less despicable bunch.

[spectoacc] 10/12/2019 07:02

@asmodeus - the existing young may learn it, but in a few generations there'll be a new batch :)

Sorry to go so far OT - or maybe not OT at all. For the first time in a long time yesterday I had a flutter, and it's money on a Corbyn minority govnt. Also been selling out of the most exposed sectors.

The bottom and top are voting Tory (the party of the working class thanks to Brexit) but all my middle are Corbyn, and not by any means just the young.

Free stuff for all, paid for by others - what's not to like? (RHETORICAL).

[asmodeus] 09/12/2019 23:34

There is only one good thing that could result from a Corbin victory - and at what ruinous expense - and that is the teaching to so many young, and others, what it means to endure a left-wing government.

[chucko1] 09/12/2019 18:38

LG, I don’t see young voters voting for Corbyn as blindly as they did last time. Further, Boris will be given one time only votes from sufficient Labour leavers to get him over the line, some of whom are patriots who detest Corbyn.

If I’m wrong, I’ll take the Dec 24th NRR divi and buy an air ticket out of here. Maybe I’ll get it for free from Jezza in compensation for all the other free stuff he won’t have to give me.

[lord gnome] 09/12/2019 17:21

I wish I had your confidence. No sleep for me on Thursday night. Waiting for the fat lady to sing!

[chucko1] 09/12/2019 17:15

Friday’s going to be OK!

[spectoacc] 09/12/2019 15:43

Doomsayers gone a little quiet?

They may have more to say on Friday mind, but NRR will be the least of our worries.

[davvero] 09/12/2019 11:15

@ramellous.... thanks. Good luck

[ramellous] 09/12/2019 10:58

Yes and paydate is 7/2/20

[davvero] 09/12/2019 10:50

it's 24 December the next ex-divi date Please?