Segro Share Discussion Threads

[zangdook] 17/11/2009 16:12

Yes, I was forgetting the debt. Market seems a little sniffy at first though.

[jonwig] 17/11/2009 16:07

Maturity and rate are excellent value for the company.
They do have issues with Brixton debt, and this is a great help!

[zangdook] 17/11/2009 16:03

Hm. Taking on more debt, for vague reasons. Are they going shopping again?

[hectorp] 07/11/2009 15:28

Tipped in Shares mag, along with Land Secs. 'BUY'.
But they have recovered a very great deal in recent months.
Whats the upside?

[james111] 06/11/2009 07:59

what a great rns this morning , a sale for £110million at a price 34% higher than the valuation at the time they took Brixton ,with more to come,
All I say is bring it on!

[scburbs] 08/9/2009 12:34

I am not holding at the moment, but this looks pretty positive news to me. BXTN had a large part of its portfolio in Park Royal.

"ING Real Estate Investment Management has completed the £41m purchase of Powergate Industrial Estate in Park Royal, NW10, at an initial yield of just under 7%.

...

The property was marketed at a yield of 8% in July but interest from investors, driven by its good location and strong tenant covenants, helped drive the price to around 100bp higher.

The 310,451 sq ft park comprises 13 units from 6,800 to 119,000 sq ft and is let to occupiers including retailer Sainsbury's and data centre operators Telecity UK and Iron Mountain."

Source: EGi

[ydderf] 06/9/2009 11:43

Isn't this what happened to Brixton?



I think they might have remained independent without the hedges.

What a mess - difficult to be bullish, there must be better property speculations, surely.....?

[martincc] 26/8/2009 13:45

Agree, I wouldn't have accepted the offer for longer dated bonds.

I had shares in BXTN, and also the 30dec2010 EBX1 bond.
Just checked back, bought at 72.15p on 7th May, so being redeemed this early at par is great. I see paying the accrued interest to date too.

Am intending to hold the SGRO shares, think they got a good deal with the BXTN t/over.

[scburbs] 26/8/2009 11:37

That's a pretty low acceptance on the discounted bond offer (for the longer dated notes). This is illustrative of how sentiment has changed massively.

Previously these notes looked like a large bad debt risk (given a falling property market) with a coupon no where near sufficient to compensate for the bad debt risk.

Now the bad debt risk has shrunk they look like a reasonably safe income return at a significant premium compared to current base rates and, therefore, noteholders are not going to accept a significantly discounted offer.

[explorer88] 24/8/2009 08:02

o/t IERE just breaking out from 20p to 60p :-)

(IERE NAV > 100p)

[das3] 24/8/2009 07:39

Chart looks good. Anyone have a handle on the NAV here?

[frizsand] 17/8/2009 07:51

Distressed commercial property sales rise

By Daniel Thomas, Property Correspondent

Published: August 17 2009 03:00 | Last updated: August 17 2009 03:00

The number of "distressed" commercial properties coming to the market rose in every region in the world in the second quarter, with the UK in particular seeing a rise in interest in property sold by owners experiencing problems.

According to a study today by the Royal Institution of Chartered Surveyors (Rics), more than three- quarters of the 27 countries surveyed saw a rise in distressed property sales in the second quarter compared with three months earlier.

This rise came despite generally low interest rates, which have provided some support for landlords facing financial difficulties, as well as help by some governments to banks lending to the sector.

Rics said that low interest rates had so far limited the problems, and predicted that falling rents and rising corporate bankruptcies were likely to further increase the incidence of distressed properties in the coming quarters...

[swiftnick] 14/8/2009 22:56

Extraordinary run. Five weeks ago I bought some of these as a long term investment. Now I'm wondering whether or not to bank a 50% profit.

[das3] 14/8/2009 07:48

I hope some of you out there are enjoying this :-)))

[typo56] 07/8/2009 16:14

Anticipating a comment about the closing auction I'll say that I think the volume may be due, at least in part, to the increased FTSE index weighting which takes effect from Monday.

[rafieh] 07/8/2009 08:07

The inevitable profit taking, albeit at low volumes. Short term holders leaving.

[hvs] 05/8/2009 13:58

iTS GOING TO balluistic.

[kazz] 05/8/2009 08:23

Breaking out at last

Kazz

[deanforester] 04/8/2009 16:01

There was an upbeat article on property shares in today's Daily Mail "City Focus"



On the face of it the property market seems to have hit rock bottom. Experts have been shouting to anyone who will listen that the only way is up.

[racg] 04/8/2009 09:18

What is NAV in the last reported accounts then ?

[l.parker] 31/7/2009 11:28

They were 260 when the rights issue was introduced,according to my records.
Not that I still hold them ,but I did well when I sold. Might go back in
they are a solid set up. they are building new Units in the town I live
in,so must be preparing for a bright future.

[das3] 31/7/2009 08:29

sp still up, tho: a plus is a plus!

[james111] 31/7/2009 07:34

dont you love todays chart!!!!
what a pity we all know the reason why.