Secure Income Reit Share Discussion Threads

[income investor] 21/7/2022 10:10

Anyone else elected for Partial Cash Alternative? Hold shares in Interactive Investor account and still waiting for both LXI shares and cash to be credited to my account!

[spectoacc] 20/7/2022 07:21

Irrelevant now SIR has gone, but RPI 11.8% for the 12 months to June. CPI still expected to top 11% (11.2%) in October.

[bondholder] 08/6/2022 11:45

Very bullish write up in the times today. Suggests more upside here.

[ptgint] 11/5/2022 08:34

I already hold some LXI so in a similar dilemma as you Inc Inv without a CGT liability due holding both in ISA. Therefore thinking of Partial Cash to avoid large LXI holding

[income investor] 11/5/2022 07:43

Will be difficult decision whether to accept Partial Cash Alternative or all LXI shares. Cash will give me CGT liability and don't need it. On the other hand do I want large LXI holding? Anyone got views on the choice?

[tonytyke2] 11/5/2022 07:08

Cracking news today!

[spectoacc] 11/5/2022 06:58

Blast - not in on LXI merger, looked it below £4 day before yesterday. Well done holders.

[spectoacc] 14/4/2022 07:35

9% RPI yesterday. Perhaps the point at which Merlin would have gone cap-in-hand to SIR saying "please put us on capped CPI, we'll gladly sign a longer lease [which we would have done anyway, where on earth else would we move Alton Towers to, taken 40 years just to grow the trees)".

Isn't just a temporary uplift signed away - it's permanently higher rent on which all future uplifts are based. And £33m paid from SIR to Merlin.

[spectoacc] 08/4/2022 07:27

Now all out in new tax year - good luck holders.

[spectoacc] 29/3/2022 07:35

Possible breakout, good luck holders but have sold just over half of remainder of remainder here.

[spectoacc] 24/3/2022 16:02

Thanks. Still waiting on debt news to sell the last of mine. Mighty tempted to email back the CEO and tell him the latest RPI figures ;)

[bondholder] 24/3/2022 15:59

The curse of Questor has struck. Tipped in the DT today.

[spectoacc] 23/3/2022 08:21

6.2% CPI Feb. Highest since March 1992.

Going higher.

Can't even find the RPI this morning, must be bad ;)




Edit - 8.2%.

Edit #2 - OBR forecasting 7.2% average inflation for 2022 - CPI, not RPI.

[pyufak] 10/3/2022 10:43

This has held up very well vs. nearly all other investments ex-commodities. I'll forget about it and take the income - for me I like the lease extension and while the cap of RPI and move to CPI feels ill timed in the near term; this is over a very long lease period.

4.5% dividend yield with this partially real yield given the capped link to inflation. I still find hard to find another asset with this quality of asset base which provides this.

The only thing which would make me consider selling would be continued outperformance vs. other assets such as VWRL or other investment trusts and then I would consider switching but not there yet for me.

[spectoacc] 10/3/2022 07:20

A lot of bold in the RNS, and they're particularly proud of:

"Weighted Average Unexpired Lease Term increased by some 50% over the year to 30.0 years following the regearing of the Merlin leases "


Bizarre. Would love to know where else they think Alton Towers would have moved to. It's taken 30 years just to grow the tree cover.

Results seem generally OK, divi rise coming, hoping to get another spike in time to sell remainder.

[bondholder] 07/3/2022 22:42

Maybe the proposed Kent "disneyland" makes longer lease more "secure income".

[williamcooper104] 07/3/2022 19:53

Logic being it paid someones bonus is my guess

[williamcooper104] 07/3/2022 19:53

Only makes sense if it was done for credit reasons - eg putting up rents by full RPI the rent would become unsustainable - but from memory it didn't look like that Looked like a short term red book boost at detriment to long term cashflow value Management by red book is often sub-optimal

[bondholder] 07/3/2022 18:51

Agree and I'm looking forward to hear the full explanation of the logic behind it on Thursday

[williamcooper104] 07/3/2022 09:57

Didn't look particularly clever at the time/much less so now

[spectoacc] 07/3/2022 09:55

RPI's going to go into double figures, and stay there as long as Russia's a pariah state IMO.

And SIR paid tens of millions to extend a lease and lose uncapped RPI.

[spectoacc] 14/1/2022 14:37

Nothing in today's Investors Chronicle on SIR, fwiw.

[spectoacc] 14/1/2022 13:01

Perhaps a tip, or the refinancing coming.