Regional Reit Share Discussion Threads

[skyship] 29/1/2019 10:27

Specto - highest price 101p; average price 97p. WOW - I'm in profit!

[rcturner2] 29/1/2019 10:25

Nice recovery in the price here. Glad I doubled up when I did.

There is no reason to sell out here. The discount and yield are fine and the NAV figure undervalues the assets in my opinion.

[spectoacc] 28/1/2019 06:55

PCA's pretty awful tho ;)

RLE I've never owned but has always interested me. Not sure I can really add it when I've been adding AEWU, RGL, SHED, WHR :)

@Sky - 90.47p, brilliant, but I think you should also declare your highest purchase price for balance ;)

(@HP - if/when/assuming Brexit is settled, there could be a lot further to go).

[hugepants] 27/1/2019 20:53

Discount to NAV is now only 13% so I'm out of these again. By comparison the likes of RLE and PCA are on discounts of 25% and yielding over 6%.

[chucko1] 27/1/2019 19:52

Skyship, I say well done to you. I have only just started looking at this and I like what I see. Bought a few (though not at your bargain prices!!)

[skyship] 27/1/2019 14:26

Skiny - agreed. It did seem an absurd level; one of those absurdities that makes one doubt one's own grasp on the situation.

My lowest top-up was 15k @ 90.47p on 19/12!!!

[skinny] 21/1/2019 09:47

A well timed top up for a change.

[spectoacc] 21/1/2019 09:40

Good point - the new East Leeds Orbital is going through Thorpe Park so it's a good place to be.

[skyship] 21/1/2019 09:05

Interesting to compare these two letting extracts for Thorpe Business Park, the recent 2nd floor letting implying £19psf versus the only slightly earlier 1st floor letting at £17psf.

Seems to support the theory of increasing rents in the better regional areas and properties.

RNS – 21/01/19:
3200 Century Way, Thorpe Park Business Park, Leeds: The Group has agreed to lease the second floor (10,736 sq. ft) at 3200 Century Way, Thorpe Park Business Park to Countryside Properties Plc at a rate of GBP204,000 per annum. It is currently undergoing a GBP2 million refurbishment, with the remaining Ground Floor due for completion by Spring 2019.

RNS – 15/11/18:
Century Way, Thorpe Park, Leeds - following the expiry of the lease to W S Atkins (Services) Ltd, the first floor (10,748 sq. ft.) was let to Sodexo Ltd for 5 years, with an option to break on the third anniversary. The company also took an additional 47 car parking spaces, resulting in a combined headline rental income of GBP227,996pa. The rent of c. GBP17psf is a 5.9% increase on the previous level achieved.

[lord gnome] 21/1/2019 08:34

Indeed. Just what I wanted to read first thing on a Monday morning. These lettings to good occupants should also help to improve dividend cover.

[spectoacc] 21/1/2019 08:16

Agreed, a v good update, hopefully indicative of the sector in general (ex retail). Size of discounts seem unwarranted, notwithstanding that "all options open" still re Brexit. The strong lettings market should keep underpinning valuations.

[cwa1] 21/1/2019 08:06

Yes, a solid update and really liked the summary which is about as upbeat as you can be at the moment:-

Stephen Inglis, Chief Executive Officer of London & Scottish Investments Limited, Asset Manager to Regional REIT, commented: "We have had a really strong finish to 2018 and the momentum is continuing into 2019. These lettings demonstrate the strength of our vertically integrated management model which enables us to achieve maximum value from our sites. In particular, the lettings achieved in the past few months in Bristol, so soon after the completion of a significant refurbishment, is evidence of this.


"We continue to see growing demand for quality space in the regional markets, despite the political uncertainty at a national level. While we remain cautious in our outlook for the macro market, we continue our approach of micro-management and a granular, site by site focus and strategy to meet demands from tenants, and in turn return value to shareholders."

[nimbo1] 21/1/2019 07:22

a strong lettings update

[eeza] 20/1/2019 17:21

There was a quarterly discontinued in 2014
Article on 'Investment Trusts Quarterly Mag' being discontinued. -

Else there is Investmentweek -
which gives weekly IT info.

[rcturner2] 20/1/2019 08:43

Isn't there a quarterly magazine that deals with ITs only?

[tournesol] 19/1/2019 22:09

you can have a free trial of John Barons site.

[asmodeus] 19/1/2019 20:17

That'S a new one on me. I will have a look myself.

[dragonsteeth] 19/1/2019 19:45

Thanks asmodeus, I’ve had a quick look will look in further detail, am also c8nsideting subscribing to John Baron’s site.

[asmodeus] 19/1/2019 15:58

Try "The Investment Trust Newsletter", Dragons.

[dragonsteeth] 19/1/2019 09:07

Thanks for the summary Skyship. After many years of IC membership I recently stopped , it didn’t really cover my main area of interest , ITs , in sufficentdepth. I was curious though when I saw RGL was mentioned , but as a holder it was never going to change my view too much even if I’d read the full article. Nice publicity though.

[skyship] 18/1/2019 17:28

Frankly, for those of us on this thread who already know of RGL and its palpable attractions, the Jonas Crosland piece added nothing new, nothing we don't already know. It did though further publicise RGL; so for holders, no bad thing in itself.

+++++++++++++++++++++++++++++++++++++++++

the last 3paras:

Financing for its acquisitions and refurbishment work is supported by disposals. A particular highlight from last year was the sale of Arena Point in Leeds to Unite Students, which, following a successful planning application, brought in £12.2m against a June 2018 book value of £3.9m. A total of £85m was raised through disposals, invariably at a premium to book value, while the acquisition of a portfolio of eight assets for £31.4m represented an initial yield of 8.66 per cent and a significant premium to disposal yields.

The dividend yield is one of the highest in the sector, and while this is expected to be only 93 per cent covered by after-tax earnings, recent disposal profits are expected to make up the shortfall.

IC View

Investors may be donning their tin hats to protect them from any Brexit fallout, but the reality is that demand for office and commercial space in the major regions outside London is holding up very well. In the unlikely event that the economy collapses then all bets are off, but assuming there is a workable outcome to Brexit, shares in Regional REIT, trading at a 25 per cent discount to forecast net asset value (NAV), may be due a rerating. Buy.

[nimbo1] 18/1/2019 16:59

Hi a000, I agree with you, which is why I removed it - normally I go for the summary but to be honest didn’t think. There are worse mistakes.

The good news is the share price closed at 96 :)

[a0002577] 18/1/2019 15:42

Hi Nimbo1 - it didn't really cause me offence but you (and SpecToAcc) should be aware of what follows as none of us, I am sure, want to disrupt ADVFN's usefulness.

Breach of copyright is serious and can be even more serious for a business which uses computers such as ADVFN & (for example) the LemonFool but it applies to all businesses. This is because the copyright owner can apply for an Anton Piller order which is a court order permitting entry to the respondent's premises to search and remove all confidential information owned by the appellants.

I once had occasion to threaten a large grocery retailer with such an action when a competitor of mine installed some software on the retailer's machine which contained some of my copyright code.

I had a call back from the FD within 5 minutes and the offending material was removed very shortly afterwards because he realised the Anton Piller Order in this case would involve the seizure and removal of the main computer.

If an Anton Piller order is applied to ADVFN then effectively it would close the business until resolved and is a terrifying prospect which is why the T&Cs of such businesses prohibit breach of copyright.

This is extracted from the LemonFool web site - which I also use

"Please respect copyright holders ... In general, it is acceptable to quote a short extract from another source, under the "fair dealing" exception, provided due credit is given and a URL link to the originating site is provided. However, copying large sections of text from elsewhere is likely to infringe copyright. " see

alter ego also pointed this out : You can find out more on these here :

[minerve] 18/1/2019 14:54

You shouldn't copy copyright. It is theft! End of story.

Idiots would think otherwise if it was their efforts and their copyright!

Are we becoming a nation of morons?