Regional Reit Share Discussion Threads

[skyship] 04/2/2019 16:38

Tilts - No, of course not. Retail there surely no problem. Your neck of the woods of course.

As we all know, the retail problems have essentially been with the large retail chains where liquidations or CVAs have interrupted rent receipts.

[chucko1] 04/2/2019 14:18

Which is odd as there are perfectly good rail lines to Brum already. From both Marylebone and Euston.

Beats the sh1t out of me.

[spectoacc] 04/2/2019 13:04

@Tilts - as much being spent as possible in order that a later govnt can't cancel it. Loads of compulsory purchase (and compulsory non-purchase) happened on the route already. And billions been sunk with the likes of KPMG et al.

My guess is - they'll managed to do only the Brum line, for the same cost as the entire thing.

[tiltonboy] 04/2/2019 13:02

For something that might not happen, there is already a lot of foundation work being done already on the site of the station.

[spectoacc] 04/2/2019 12:57

@chucko1 - fair point. And the Brum version more likely to happen than the ones going further north.

Still - if Private Eye to be believed - the whole thing's a shambles already.

[chucko1] 04/2/2019 12:49

SpectoAcc - you don’t make it clear between the “will” or the “should”.

I don’t think it should happen, but I think there is a 60% chance that it will happen.

[spectoacc] 04/2/2019 09:33

Looks a reasonable buy, more than reasonable if you think HS2 will/should happen (I don't).

[tiltonboy] 04/2/2019 08:45

Not worried about the retail element SKYSHIP?

[lord gnome] 04/2/2019 08:37

Cracking location. Right at the heart of things. Not the usual yield that RGL buys at, so I assume they have been advised that there is room for further development.

[skyship] 04/2/2019 08:21

The RNS states:

"London & Scottish Property Asset Management Ltd. is the property manager for the vendor and has a 6.7% interest in the property."

[ramellous] 04/2/2019 07:56

Who have they bought it off? Link here says in 2016 it was being refurbished by London and Scottish. Aren't they and Rgl one and the same?

[skyship] 04/2/2019 07:50

Looks as though it went on the market @ £22m last summer:

[skyship] 04/2/2019 07:47

Photos of Norfolk House:

[skinny] 04/2/2019 07:18

Regional REIT Limited (LSE: RGL), the regional real estate investment specialists, today announces it has exchanged and completed on contracts to purchase Norfolk House, Smallbrook Queensway, Birmingham, for a consideration of £20m with a current net initial yield of 7.92%, in an off market transaction.

The 119,687 sq. ft. freehold property is in a highly commercial location in the centre of Birmingham; situated adjacent to Birmingham New Street Station, the Bullring Shopping Centre and close to the proposed new HS2 station, which will better link Birmingham to both London and Manchester. The building comprises 12 retail units amounting to 27,433 sq. ft. and office accommodation of 92,254 sq. ft.. The main office tenant is HMRC occupying 49% of the property.

The building is 98.75% occupied with a net income of c.£1.69m.

more.....

[redhill9] 30/1/2019 08:52

Skyship, yes that's what I meant by current climate. 105p short term looks very achievable to me with more to come when economic confidence settles.

[stewart64] 30/1/2019 08:04

Sold at the bell 101.06. May rebuy if it retreats a bit.

[skyship] 29/1/2019 16:48

At that 105p they would still be yielding 7.67%!

[chucko1] 29/1/2019 16:19

A lot of the REITs were well bid today. Perhaps the stronger smell of a non-nuclear Brexit is getting funds invested.

[redhill9] 29/1/2019 15:28

It seems the recent selling drip may have finished? 100p still seems cheap to me - I would think something above 105p is fair value in current climate.

[nimbo1] 29/1/2019 15:25

Lovely move - gl all. 95p and below was a steal it seems :)

[2wild] 29/1/2019 14:35

Just sold 10% of my holding at 99.57p as the recent spike looks tippy.

[spectoacc] 29/1/2019 14:04

Well done @Sky, a few squeaky bum moments but looking good. Hopefully a further bump, to nearer NAV, if/when Brexit sorted.

[redhill9] 29/1/2019 12:16

And if they maintain the final dividend (and why wouldn't they?) then the yield continues to be over 8% at the current share price

[tiltonboy] 29/1/2019 10:30

...and had some nice divis along the way.