Regional Reit Share Discussion Threads

[badtime] 21/5/2019 15:58

I thought that was next week?

[skyship] 21/5/2019 14:29

Well, having read many of the comments here and having deliberated at length, I bought back @ 106.95p half of what I'd sold higher up; so now back up to 11% allocation again versus my original 16%.

[redhill9] 21/5/2019 14:25

I think RGL goes ex-div tomorrow which might also explain it?

[chucko1] 21/5/2019 13:40

Nimbo, I agree. I bought a few, but the price was notably higher for double and higher again for triple that amount (my intended size). I am not talking large size either, and the illiquidity is unusual as compared with recent weeks.

[clausentum] 21/5/2019 13:16

23 May 2019 Q1 2019 Trading Update, AGM Statement and Dividend Announcement

[nimbo1] 21/5/2019 12:52

hard to buy stock at the moment.

[chucko1] 21/5/2019 08:39

Zero offence taken. In fact, if I write rubbish, it’s good to tap me on the shoulder so that I don’t go and do something stupid “in real life”.

[tournesol] 21/5/2019 00:36

Chuck

Thank you. Not being pedantic, just making sure I understood you.

T

[tournesol] 21/5/2019 00:35

lewsey

Not sure why you are questioning my motives.

I suspected a typo but I also feared that perhaps I had simply failed to grasp Chuck's meaning - a not uncommon situation for me these days, I'm afraid, as the synapses rust away

I asked politely for clarification

I do not think Chuck was offended or irritated by that - he has responded in a straightforward and friendly manner.

no need for you slap my wrist.

[lewseyfarm] 20/5/2019 19:24

don't be a bore tournesol ,we all know what he meant

[chucko1] 20/5/2019 18:28

Tournesol, you are correct in every respect.

The more interesting point is that either I am thick (a constant concern of mine), or how much more affected I am by jet lag than the era when I worked at the Gherkin.

I plead age/weariness, not low IQ.

[tournesol] 20/5/2019 18:07

RCTurner/chuck01

not being pedantic at all, there is what amounts to a triple negative in there which does not make sense to me

I'm simply trying to understand what was meant by

...air con was not able to prevent the temperature falling below 28c

did you mean "the aircon was not able to prevent the temp rising above 28?

as originally written it suggests that you think the aircon should keep the temperature higher than 28 which sounds uncomfortably hot to me.

T

[skyship] 20/5/2019 15:43

mridyard - HCFT is a small but perfectly formed investment company, has very little exposure to retail (bad), but a reasonable exposure to retail warehouse (33% - good) & warehouse (39% - good)). As per recent Annual Report:

In 2013 the directors set an objective to rebalance the portfolio to take advantage of a changing property market. The emphasis was to move away from high street retail as shopping patterns were changing, principally due to the internet, and to focus more on warehousing and retail warehousing. It was decided that as the cost of managing the small residential assets in the portfolio was disproportionate to their value the group would divest of all of its residential properties. We managed to do this whilst the market was strong, and reinvested the proceeds into the other sectors.

[mridyard] 20/5/2019 15:13

SKYSHIP thanks for the heads up HCFT was not on my radar. Looks an interesting investment and worth a closer look. I guess the discount is down to being lumped into the retail sector concerns which don't appear to be affecting the results as yet.

[chucko1] 20/5/2019 14:31

RC, the logic, in fact! That’s what jet lag can do! Good spot.

[skyship] 20/5/2019 14:27

mridyard - perhaps they should make a general offer for Highcroft (HCFT) currently trading on a 25% discount & 5.8% yield. Their last two acquisitions were gyms etc.

Would make me very happy 😃

[mridyard] 20/5/2019 13:51

Although I do think RGL will invest in industrial/office properties. I do like the idea of multiple purpose developments. Flats, offices, leisure facilities, dining, supermarket etc.

[hpcg] 20/5/2019 13:29

What you describe in the Gherkin is common for HVAC where the interior is not as described in the original plans.

[rcturner2] 20/5/2019 13:05

I think he was being a pedant about the grammar.

[chucko1] 20/5/2019 12:46

No typo. The blinds were computer controlled so that when the sun hit the building at different angles during the course of the day, the blinds would react automatically. Some were upside down so the sun still got through and mistook the Gherkin for a greenhouse.

The building was designed for one tenant (Swiss Re) but they took far less space than planned for so many floors and parts of floor were subleased. Except the air con could not be redesigned and so the air circulation concept throughout the whole building was fatally compromised. There are massive gaps in the floors to allow air circulation, but now have to be sealed off to separate tenants. This also wastes a high percentage of potential rentable floor space.

Apart from that, it was a nice building but commercially flawed.

[badtime] 20/5/2019 12:32

Sky...have you sold any RECI following their notice re capital raise?

[tournesol] 20/5/2019 12:18

Chucko

...imagine working at a desk in summer where the air con was not able to prevent the temperature falling below 28c

is that a typo?

[chucko1] 20/5/2019 11:45

LG, I used to work in the Gherkin when it was purchased by Joseph Safra in 2014. In 2016, he was described as the richest banker in the world, but under suspicion of tax irregularities. Often, the buyers of these trophy buildings are not the typical real estate behemoths with investment naus. It was an awful building in a number of respects and would have been a poor investment considering the development capital required to bring the quality up to the levels of the Shard, Walkie talkie, Cheesegrater and several others. Won’t bore you with the details, but imagine working at a desk in summer where the air con was not able to prevent the temperature falling below 28c - because the integral blinds had been fitted upside down and the air con had been designed for a different building. Panels of glass fell out spontaneously to boot.

He ought to have looked at Unit 6, The Grange Trading Estate, Ripley. etc. But it’s hardly boastworthy in high society.

[mridyard] 20/5/2019 10:48

London has always been a hotspot for foreign investors. However, other major cities further North of the Capital are attracting many investors who are looking for lower property prices offering high net returns and capital appreciation. Manchester (North West) and Birmingham (Midlands) for example can both boast having major international airports with fantastic motorway and rail transportation links. On a commercial aspect the trend continues with the BBC moving their headquarters from Central London to the City of Manchester.

[lord gnome] 20/5/2019 10:17

Overseas investment is almost always at the quality end of the market. They will buy the Shard, not an office block in Leeds. That is why there is such disparity between the top-end London markets and underinvested regional markets. That is why the regional market is such a happy hunting place for high yield investments.