Urban Logistics Reit Share Discussion Threads

[clausentum] 11/11/2020 09:00

Tomorrow!

"The Company will announce its results for the interim period ended 30 September 2020 on Thursday 12 November 2020."

[williamcooper104] 10/11/2020 18:19

More than antidotal evidence - there's been a lot of transactional evidence in last 3-4 weeks - and it's a 40-80bps yield shift (higher on super prime) And yields are well in across the board The big and prime players - PLD and SGRO have sold of over last few days - but they were trading at huge premiums so weight of capital moving to recovery stocks has pulled them down In that context though SHED and BBOX staying at around same levels is a good performance It's likely that move are now on slight discounts to NAV

[dhoult12] 10/11/2020 16:41

"
Despite the Covid-19 restrictions currently in place, I'm pleased to report that all of our tenants remain operational"

Also key not so much in these restrictions will last forever.. More that online or offline these assets are needed for customer...

[jbarcroftr] 10/11/2020 13:31

Yesterday’s announcements were more of the same but today’s seems a cracker.Market seems unimpressed which I find strange last mile logistics is the hot sector and anecdotal evidence is that yields are being compressed across the board

[skinny] 10/11/2020 07:03

.

Urban Logistics, (AIM: SHED) the specialist UK logistics REIT, has acquired a logistics site in Hoddesdon, Hertfordshire, for GBP34.3 million at a 5.4% NIY, as part of the deployment of the capital raised from the Company's recent fundraising.

The 12-acre site comprises five units, three of which are let to Müller UK & Ireland Group, a major producer and distributor of dairy products, until 2030 with a rent review in 2025. The passing rent is GBP8.75 per sq ft. The other units are currently vacant and provide an opportunity for considerable value enhancement through active asset management, with several potential occupiers already expressing interest. The site is strategically located seven miles from the M25 and benefits from excellent access as well as a dedicated local power supply, making it a highly attractive "last touch" distribution hub.

Richard Moffitt, Chief Executive, commented:

"This is another high quality off-market acquisition that formed part of our existing pipeline. The site is well located in the South East for delivering essential goods the "last mile" to customers and businesses. Significantly, it offers excellent opportunities for value enhancement through active asset management.

Despite the Covid-19 restrictions currently in place, I'm pleased to report that all of our tenants remain operational."

- Ends -

[skinny] 09/11/2020 07:43

.




Urban Logistics, (AIM: SHED) the specialist UK logistics REIT, announces the acquisition of five high-quality logistics assets for a total consideration of GBP33.1 million at a blended 6.4% NIY in Ripon, Braintree, Oxford, Exeter and Warrington. These urban logistics sites support a diverse customer base.

Richard Moffitt, Chief Executive, commented:

"These acquisitions were sourced off-market and are in line with our strategy of focusing on well-located logistics properties that supply essential products and consumer goods.

"Following the successful completion of our recent fundraising, we will now work to conclude the acquisition of further logistics properties from our established pipeline, enabling the rapid deployment of new funds into high-quality income-generating assets. With greater scale, we are confident that we can continue to deliver attractive shareholder returns."

The Acquisitions

Ripon

On 5 October 2020, the Company acquired a well-specified 43,881 sq ft distribution unit for GBP2.9 million from Xpediator plc at a 6.25% NIY. Nidd Transport, a third-party logistics operator recently acquired by Xpediator plc, has taken a 15-year lease as part of a sale and leaseback arrangement. The rent is GBP4.56 per sq ft and there is a five-yearly rent review linked to RPI with a cap and collar (2% - 4%). The unit is located on the Barker Business Park which is a well-established location adjacent to the A1(M).

Braintree

On 30 October 2020, the Company acquired a modern distribution warehouse, which is subdivided into two units, for GBP11.2 million at a 5.25% NIY. The units are let to Delamode Group, also part of Xpediator plc, who are a freight and logistics provider. The two storey warehouse is let at GBP7.99 per sq ft through to 2025 and there is a rent review due in December 2020. The site is prominently located close to the A120.

Oxford

On 4 November 2020, the Company acquired a high quality, automated 71,384 sq ft distribution warehouse for GBP9.1 million at a 6.6% NIY. The unit is let to Ceva Logistics who distribute sports apparel from this site for a leading global brand. The site is let at GBP8.41 per sq ft through to 2025 and there is an outstanding RPI-linked rent review. The site serves as a national distribution hub and is prominently located close to the A40.

Exeter

On 6 November 2020, the Company acquired a unit in Exeter which is let to Giant Booker for GBP5.1 million at a 8.0% NIY. It is located close to the M5 and is let until February 2030. The rent is GBP4.87 per sq ft and there is a rent review in 2025 to the higher of open market or 2.5% compound per annum.

Warrington

On 6 November 2020, the Company acquired a warehouse in Warrington which is let to CDS (Superstores International) Limited, who trade as The Range, for GBP4.8 million at a 7.4% NIY. The site is let until December 2032 and the rent is GBP4.43 per sq ft. The rent increases at 2% compound per annum. The site is located close to the M62.

Interim Results

The Company will announce its results for the interim period ended 30 September 2020 on Thursday 12 November 2020.

- Ends -

[jbarcroftr] 26/10/2020 13:48

Interim results out next month Should be very positive

[dhoult12] 26/10/2020 12:45

Agreed, you also have to look at companies that have announced but not finalised raises.

TP ICAP for one, down 30% while the raise hangs over them. Want to get big cash in expect some pretty hefty discounts for most at the moment.

[2wild] 24/10/2020 17:12

I applied for 500 x my allocation and got 18.2% in my ISA with Lloys Bank. How did others get on?

[winsome] 15/10/2020 14:21

The offer price was clearly not low enough as they raised far less than the intended.

[darrenp746] 15/10/2020 08:00

Great! So the institutional investors get 100% of what they applied for and we private investors get a meagre 16%

[clausentum] 08/10/2020 14:09

"The ex-dividend date will be 8 October 2020."

[enormouswillie] 08/10/2020 11:51

Some of these funds are long/short and look for arbitrage, and hedge comparative situations...for example, they might be LONG TRITAX BBOX and SHORT SHED here, on the basis that they believe BBOX will outperform SHED...

No idea if that applies in this case of course

[apollocreed1] 08/10/2020 11:40

I wonder why a hedge fund shorted this stock last week. Surely there are better options to short. (You can see shorts on the short tracker website)

[skinny] 08/10/2020 07:03

.

Rent collection update

Urban Logistics, (AIM: SHED) the specialist UK logistics REIT, is pleased to announce that 99% of rent due for the quarter to December has been collected, the remaining 1% is expected to be collected imminently.

This follows strong cash collections in March and June where 100% of rents due were collected. The levels of rent collection evidence the Company's proactive approach to strong covenants and intentional bias towards the supply of essential products and consumer goods.

- Ends -

[jbarcroftr] 05/10/2020 15:14

Article in last weeks IC
They seem to be looking at a big purchase and leaseback deal

[adamb1978] 05/10/2020 14:44

Added these to my SIPP today in the absence of any sensibly yielding fixed income options. 5.3% yield and hopefully largely inflation and future proof

[nimbo1] 05/10/2020 14:16

The last WHR purchase from BBOX will have moved the entire market pricing imo - they paid a top price for an amazon warehouse purchase.

[topvest] 04/10/2020 10:46

OK, fair point.It would have been easier to not have bothered at all with the amounts involved. I am still holding.

[twells1] 30/9/2020 18:10

The retail offer is annoying but not stupid. It is the regulations that are stupid and this is explained clearly in the capital raising document. Under the regulations a full prospectus offer ( very expensive and slow ) is required if the capital raising both this time and last time exceeds £8m hence the small number available now for private investors as about £7m was raised from private investors last year. Of course private investors can apply for £91000 ( Euros 100k) of shares and will almost certainly get them. Unfortunately I have not got that amount of cash available as I think Shed's prospects are very good.

I have been really annoyed with the number of companies doing capital raising without giving private shareholders any opportunity to buy in at the same price as institutions but Shed have at least tried to involve private shareholders. m

[topvest] 30/9/2020 15:37

The retail offer is stupid. Another two finger salute to private investors!

Pacific Investments are well worth following, but why they can't allocate properly to existing investors beats me...it's not difficult!