Schroder Real Estate Inv... Share Discussion Threads

[elmfield] 04/5/2012 18:12

Good to hear, have to agree with you!

[topvest] 04/5/2012 18:00

Bought a few more today. These are looking really good value after the last two disposals.

[mirandaj] 03/5/2012 12:46

Bloomberg:

[skyship] 03/5/2012 11:46

elmfield - also by taking out that 1m @ 34.25p CD - you effectively bought @ 33.37p - Well done you!

[elmfield] 03/5/2012 09:38

for once timing was good.

[yieldsearch] 03/5/2012 08:50

Schroder Real Estate SREI Disposal
2012-05-03 06:01:02.174 GMT

Schroder Real Estate (SREI) - Disposal

RNS Number : 6295C
Schroder Real Estate Inv Trst Ld
03 May 2012






3 May 2012

Schroder Real Estate Investment Trust Limited

(the 'Company' / 'Group')



DISPOSAL OF PLANTATION PLACE, LONDON EC3



Schroder Real Estate Investment Trust Limited announces that it has sold its 28.9% stake in One Plantation Place Unit Trust ('OPPUT'), the owner of Plantation Place, London EC3, realising net proceeds of £11.73 million. The disposal of the Company's stake forms part of a larger transaction where 100% of the units in OPPUT have been sold.



The Company's investment in OPPUT was held at nil in its latest Net Asset Value ('NAV') announcement, made on 25 April 2012, as at that point there was no certainty that the disposal would complete.



If reflected in the Company's NAV as at 31 March 2012, the net proceeds would
generate a 7% uplift, taking it from £167 million, or 46.9 pps ('pence per
share'), to £178.7 million, or 50.2 pps. The proceeds sit outside of the loan
security pool and increase total cash held by the Company to £38.7 million.
In addition, the transaction reduces the Company's overall net loan to value
ratio from 41% to 38%.



Andrew Sykes, Chairman of the Company, said:



"Realising the investment in Plantation Place was identified as a key
initiative to be implemented by Schroders following its appointment as
investment manager in January 2012. As well as being significantly accretive
to NAV, the proceeds of the disposal provide the Company with increased
operational flexibility to pursue its key strategic objectives of improving
dividend cover and achieving balance sheet efficiency."

[skyship] 03/5/2012 08:06

That takes the EPRA NAV, the true position, back up to 58.1p

At the current offer price of 35.5p the EPRA NAV discount = 39%

[cwa1] 03/5/2012 08:06

Market seems to have spotted it too, which is disappointing :-( Had been hoping to have another top up below 34p-even although pretty heavily invested here already. Oh well, might drift off again when people get bored...

[envirovision] 03/5/2012 07:56

FAB NAV back to 50pence and ltv 38%.

[lord gnome] 03/5/2012 07:41

An excellent deal for SREI, but I dare say we won't see more than a blip in the share price until someone turns off the tap. The investment case here has looked good for some time, now it seems compelling.

[cwa1] 03/5/2012 07:41

Sounds like good news to me.

[skyship] 03/5/2012 07:36

Very good news - must have been more than a £470m deal surely...

DISPOSAL OF PLANTATION PLACE, LONDON EC3

Schroder Real Estate Investment Trust Limited announces that it has sold its 28.9% stake in One Plantation Place Unit Trust ('OPPUT'), the owner of Plantation Place, London EC3, realising net proceeds of GBP11.73 million. The disposal of the Company's stake forms part of a larger transaction where 100% of the units in OPPUT have been sold.

The Company's investment in OPPUT was held at nil in its latest Net Asset Value ('NAV') announcement, made on 25 April 2012, as at that point there was no certainty that the disposal would complete.

If reflected in the Company's NAV as at 31 March 2012, the net proceeds would generate a 7% uplift, taking it from GBP167 million, or 46.9 pps ('pence per share'), to GBP178.7 million, or 50.2 pps. The proceeds sit outside of the loan security pool and increase total cash held by the Company to GBP38.7 million. In addition, the transaction reduces the Company's overall net loan to value ratio from 41% to 38%.

Andrew Sykes, Chairman of the Company, said:

"Realising the investment in Plantation Place was identified as a key initiative to be implemented by Schroders following its appointment as investment manager in January 2012. As well as being significantly accretive to NAV, the proceeds of the disposal provide the Company with increased operational flexibility to pursue its key strategic objectives of improving dividend cover and achieving balance sheet efficiency."

[danny500] 03/5/2012 07:14

good news guys

[alanji] 02/5/2012 21:19

Not quite as much as hoped for?

"A £470m deal to recapitalise Plantation Place in the City was completed this week, bringing to an end a long-running saga.

An entity of Brazilian banking billionaire Moise Safra bought the 550,000 sq ft building, in a deal facilitated by Jamie Ritbalt's Delancey."

However:

"It is understood that the sale would see Safra put some equity into the deal to pay down the debt, and then undertake a more comprehensive refinancing or equity injection ahead of the debt's maturity next year."

So we will have to wait for the detail.

[skyship] 02/5/2012 10:54

Tilts/BT - now stop it you two and get back to work...

David - Couldn't do anything earlier because of the weather & don't usually open the pool until mid-May as we don't heat it - though would like to do so at some stage. Even if warmer down here there are many occasions when the pool is uncomfortably cool.

Pompe a chaleur - I remember well 1977/8 when working for a small alternative technology outfit - we named & launched the world's first heat pump for swimming pools - The Calorex range - still the UK's No.1....outlandish prices for a simple refrigerator in reverse!

Incidentally - nice to see we are holding 34p bid having gone XD today...

[gingerplant] 02/5/2012 10:14

Skyship - you're late off the mark - I did the same job here two weeks ago since when the pompe à chaleur has been struggling bravely on in driving wind and rain and February-like weather, until today when normal service has been resumed!

[badtime] 02/5/2012 10:09

o how the other half live eh tilts lol

[tiltonboy] 02/5/2012 08:37

You must have made use of the olympic size indoor pool you have in one of your smaller out-houses!

[skyship] 02/5/2012 07:32

In my dreams!!!

Great day dawned here - the second in a row after 3weeks of rain. So hope to be able to get onto the tractor mower before the lawns turn into a hay crop! Also fire up the Karcher and start the cleaning of the terraces - c.500tiles around the pool...

[badtime] 01/5/2012 18:52

Gary ..tht wud have been as bit of loose change to sky :)

[elmfield] 01/5/2012 16:03

or was it?

[skyship] 01/5/2012 15:59

No - I think that was Tilts deciding to pay up rather than stand forever on 34p!

[gary1966] 01/5/2012 15:07

Skyship,

I see you have just taken your allocation back up to 10% with that 1m buy.

[elmfield] 01/5/2012 13:35

well I have got a few now, that will do and hope in a years time to get capital growth os say 15% plus 8% or so dividends,

[skyship] 01/5/2012 13:03

Last chance to buy CD - they go EX tomorrow - paydate 18th May.