Schroder Real Estate Inv... Share Discussion Threads

[nickrl] 20/9/2021 08:07

Thats some stonking uplifts being achieved on industrials good read across for others.

[cwa1] 20/9/2021 06:56

Always a pity to release a decent statement in to a hugely nervous market-but not much they can do about that unfortunately

[skyship] 20/9/2021 06:45

An excellent statement & surely presages a reasonable NAV increase to be declared end November.

Skinny - tell me - how do you do that post of link and the boxed article. Seen you do it many times but never asked!

[spectoacc] 20/9/2021 06:22

Goes to show just how strong Industrial is, seeing the scale of those rent uplifts.

Also liked:

"The Company has submitted a planning application for an 80,000 sq ft Net Zero
Carbon ("NZC") scheme on the 3.4 acre site adjoining the trading estate which
will be determined at a planning committee in October. Assuming planning is
secured, the Company will proceed with the development of 11 warehouse and
trade units at a tendered total cost of approximately £8 million. The rental
value of the new development is approximately £950,000 per annum."

[skinny] 20/9/2021 06:11

.




Schroder Real Estate Investment Trust, the actively managed UK-focused REIT,
provides an update on recent asset management activity and rent collection
across its portfolio.

Asset management

35 new lettings, renewals and reviews have exchanged or completed since the
Full Year Results on 2 June 2021, driven principally by activity on the
industrial portfolio which represents 40% of the portfolio by value (30 June
2021). These transactions will generate £2.0 million per annum of rental
income and increase contracted rental income by £660,000 per annum.
Significant leasing activity on key assets includes:

Leeds, Millshaw Industrial Estate (Industrial)

A new ten year lease has completed with Spinko Limited, owner of the luxury bed
manufacturer Harrison Spinks, for a 34,446 sq ft unit at a rent of £206,676 per
annum, or £6.00 per sq ft. This compares with the previous passing rent of £
4.75 per sq ft and therefore represents an uplift of £43,058 per annum or
26.3%. The letting was is in line with the estimated rental value ('ERV') as
at 30 June 2021. The tenant will receive six months' rent free and there is a
break option in year five.

A five year lease renewal has completed with Yorkshire Metal Finishes Limited
for a 4,400 sq ft unit at a rent of £30,807 per annum, or £7.00 per sq ft.
This compares with the previous passing rent of £5.75 per sq ft and therefore
represents an uplift of £5,507 per annum or 21.8%. The letting was 16.7% ahead
of the ERV as at 30 June 2021.

Milton Keynes, Stacey Bushes (Industrial)

A new five year lease has completed with Sevroll UK Limited, an existing
tenant, for an additional 3,805 sq ft at a rent of £34,236 per annum, or £9.00
per sq ft. This compares with the previous passing rent of £7.80 per sq ft and
therefore represents an uplift of £4,557 per annum or 15.4%. The letting was
in line with the ERV as at 30 June 2021. The tenant will receive two months'
rent free. As part of this letting, Sevroll extended their existing lease on a
3,792 sq ft unit that was due to expire in March 2023 at £34,128 per annum,
reflecting a rental uplift of 23.9%.

A five year lease renewal completed with MK Autocare Limited for a 3,654 sq ft
unit at a rent of £31,060 per annum, or £8.50 per sq ft. This compares with
the previous passing rent of £6.00 per sq ft and therefore represents an uplift
of £9,136 per annum or 41.7%. The letting was also is inline with the ERV as
at 30 June 2021.

Cheadle, Stanley Green Trading Estate (Industrial)

A five year lease renewal completed with Factory Kitchens for a 2,859 sq ft
unit at a rent of £40,026 per annum, or £14.00 per sq ft. This compares with
the previous passing rent of £8.75 per sq ft and therefore represents an uplift
of £15,010 per annum or 60.0%. The letting was in line with the ERV as at 30
June 2021.

The Company has submitted a planning application for an 80,000 sq ft Net Zero
Carbon ("NZC") scheme on the 3.4 acre site adjoining the trading estate which
will be determined at a planning committee in October. Assuming planning is
secured, the Company will proceed with the development of 11 warehouse and
trade units at a tendered total cost of approximately £8 million. The rental
value of the new development is approximately £950,000 per annum.

Bedford, St. John's Retail Park (Retail Warehouse)

Following the completion of lettings with Lidl and Home Bargains, a vacant
9,919 sq ft unit has been let to Bensons for Beds at a rent of £130,000 per
annum, or £13.00 per sq ft. This is in line with the ERV as at 30 June 2021.
The remaining vacant unit at St. John's Retail Park is under offer at a rental
level above the ERV as at 30 June 2021.

Rent collection

Rent collected for the quarter ending 30 September 2021 currently totals 94% of
contracted rents, which is 6% ahead of the previous quarter. The breakdown
between sectors is 99% of office rent collected, 100% of industrial rent
collected and 81% relating to retail, leisure and ancillary uses collected.
The Company remains in active dialogue with its tenants for all rents due to
be paid and expects to recover a significant portion of the outstanding amount.

The Company will provide a further update when it announces its interim results
to 30 September 2021 and quarterly dividend during the week commencing 22
November 2021.

-ENDS-

[epistrophy] 05/8/2021 14:41

The newer ones are just dividend reinvestments. I didn't notice the date at first, and was a bit surprised to see him paying 55.3p for shares.

At least he is nearly back in the money now...

[my retirement fund] 05/8/2021 14:37

Looks like 50p barrier is by the wayside.

[skinny] 05/8/2021 14:26

There are 9 transactions listed - the oldest is 2019, the most recent

e) Date of the transaction 13/07/2021

[epistrophy] 05/8/2021 14:18

I see Alastair Hughes paid 55.3p for 100k shares... but if you read closely it looks like the transaction was in 2019!

[skyship] 04/8/2021 14:13

Indeed - good to see. Perhaps we will now hold above the 50p breakline.

[frazboy] 04/8/2021 13:14

What's tickled this today!?

[speedsgh] 30/7/2021 13:23

Playback of recent QuotedData webinar by SREI investment manager, Nick Montgomery...

[my retirement fund] 30/7/2021 08:59

Christ we wouldn't want to beak 50p would we, bloody resistance or what

[spectoacc] 29/7/2021 13:28

Me too, lose track of them all :)

The monthly payers are great too, eg EPIC - rarely worth the market marking them down, but all accumulates.

[badtime] 29/7/2021 13:16

Thanks forgotten about the div

[skyship] 29/7/2021 09:09

XD 0.675p today; PD 13th August.

[apollocreed1] 22/7/2021 21:17

You can do very well buying after a share buyback is announced! I hope to repeat this strategy in future.

[skyship] 22/7/2021 19:59

Great - the long-term banker paying off in spades.

Though my largest REIT holding is no longer SREI - it is now EPIC.

[badtime] 22/7/2021 18:49

Finally over 50p...will it stay there..

[nickrl] 19/7/2021 07:45

Contracted rental income is up 0.5m over last six months to 28.8m and the inv mgt fee reduction is worth 600k pa on todays NAV all enhancing at the cash level so im sure we will see a couple more modest qtrly increases on the divi.

[rogerbridge] 19/7/2021 06:38

SREI is going the right way.

[skyship] 19/7/2021 06:21

Excellent update - well pleased with that, especially the NAV.

[spectoacc] 19/7/2021 06:03

A lot to like (I've left off the ESG part). Reckon we'll see NAV increases from all of them:


"Highlights

· Net asset value (NAV') per share increase of 4.1% and a NAV total return of 5.3% per share based on dividends paid during the quarter.

· Further 3% quarterly dividend increase to 0.675 pence per share (pps') for the period 1 April 2021 to 30 June 2021.

· The portfolio valuation increased by 2.6% net of capital expenditure over the quarter, driven by the performance of industrial, which represents the largest component of the portfolio by value at 40.2%.

· Rent collection levels continue to improve, with 90% of rent due for the quarter ending 30 September 2021 collected as at 16 July 2021, ahead of the equivalent date in the previous quarter.

· High levels of earnings enhancing asset management activity across the portfolio, with 14 leasing transactions generating £1.1 million per annum of rental income. These reflected a £400,000 per annum like for like increase compared with the rental income as at 31 March 2021.
"

[nickrl] 07/7/2021 19:06

Speedsgh watched it myself and sensible questions from investors rather than twaddle that analysts pose.

[speedsgh] 07/7/2021 18:14

Very interesting webinar with Nick Montgomery this morning. Will post a link to playback if/when it becomes available.