Urban Logistics Reit Share Discussion Threads

[belgraviaboy] 15/11/2018 08:15

Decent update - been buying this week and added this morning

[trustman] 08/11/2018 09:33

Agreed Specto-great yield and entrepreneurial management out to make money!
PS I see from the announcement they seem to have added N+1 Singer as their broker which must help raise the profile.

[spectoacc] 08/11/2018 07:40

SHED slips under the radar compared to many others, but I really like deals like this - not small beer either:

Urban Logistics REIT PLC

08 November 2018

Urban Logistics REIT plc

("Urban Logistics" or the "Company")

Acquisition

Urban Logistics, (AIM: SHED) the specialist UK industrial and logistics REIT, is pleased to announce that on 7 November 2018 it exchanged contracts to acquire the freehold of a site located at Hudson Road, Bedford for a total consideration of GBP17.0 million from 3M Products Limited, (the "Acquisition"). The site comprises a building and adjacent development site totaling 20.1 acres. The building represents 183,883 sq ft of warehouse space, which is being acquired with vacant possession.

As part of the Acquisition, the Company is simultaneously selling a plot of development land of 12.1 acres for GBP5.0 million to a local developer that has plans to build new logistics facilities.

The vendor, who was also the previous occupier, has vacated the site and marketing of the warehouse space has generated strong interest from a range of high-quality local and multinational occupiers that fit the Company's tenancy criteria.

The Acquisition is consistent with the Company's investment strategy of identifying well located and attractively priced stock with asset management potential; and sits within an industrial estate that is well known to the Company.

The Acquisition is being financed from the Company's cash resources, following the recent sale of a site in Leeds, as well as with debt finance from its club facility with Santander and Barclays.

Commenting on the Acquisition, Richard Moffitt, Chief Executive, said:

"The acquisition of this well-located, institutional-grade logistics property offers attractive asset management opportunities for the Company, together with the potential to add newly developed assets in the future.

"This is another example of our approach to creating value whereby the proceeds from successful asset management are reinvested into new opportunities, ensuring the portfolio continues working for shareholders.

"We have had considerable success with investments in Bedford and are confident that this site will prove attractive to a variety of different occupiers.

"Looking ahead, we remain opportunistically acquisitive, focusing on assets that serve the 'last mile' needs of a diverse tenant base, especially those responding to the challenges of e-commerce and supply chain constraints."

[sirgainalot] 30/10/2018 17:45

This has delivered total return in excess of 15% every year since IPO.

So I am being paid 6% divvy to hold whilst also getting some real returns through management efforts on lease regears and rental growth which is being experienced across the whole sector.

What am I missing?

[spectoacc] 25/5/2018 15:59

I agree, though still seems to be accelerating, eg WHR's results this week, & SHED seem to source everything off-market at decent yields/prices. I think the trend you mentioned will benefit them, eg:

"Disposal of site in Bedford for GBP5.8m, representing an IRR of c.43% and a net initial yield of 6.0%".

Then again - if/when the market does a fast turn a la the credit crunch, SHED won't be an easy sell in any sort of size, so no harm exiting whilst there's liquidity.

Feels like a bet on the management more than the market tho, & happy to run it for now. Starting to sound like I'm needing to convince myself... ;)

[tiltonboy] 25/5/2018 15:33

Specto,

I've been in since 100p (or thereabouts), and while I still see good growth, I am concerned that yields are increasingly driven lower, as more participants try to enter the market, and vendors become more savvy on pricing.

[spectoacc] 25/5/2018 13:22

Think you were in at the same placing I was @Tilts?

I still think SHED isn't like the other small REITs, or at least the other "income/little NAV growth/ticking along" ones. Feels like an empire's being built (albeit much smaller than they'd been hoping!) & hence has a fair way to go yet.

So staying in most of mine for higher, but can't go far wrong taking a profit, well done.

Do wonder when the market will turn for warehouses; retail has died but offices, warehouses, student, & resi still motoring along.

[tiltonboy] 25/5/2018 12:41

I've taken a decent turn, selling at 130p. Will look to rotate into something trading on a discount.

[spectoacc] 25/5/2018 12:11

Someone bought 22.6k at 1.33, vs NAV in (good) results earlier this week of 1.22. Results are worth a read, they show the direction SHED is going in.

[spectoacc] 11/5/2018 08:30

Thought it might be a little more liquid post-equity raise, but still quoted by only two MMs, NMS 1k shares (tho that'd take a while to change), & MM's in 2.5k & 10k respectively.

Not too fussed as it's a LTBH for me, to see how far they can build the co (no pun intended), with the yield in the meantime.

[spectoacc] 29/4/2018 07:12

Link to old thread under PILR:

[m.t.glass] 08/9/2009 09:44

"..Shedworking is the only daily updated guide to the lifestyles of shedworkers and those who work in shedlike atmospheres..."

[vinnie the bean] 17/11/2005 21:47

even more reason to wing one your way at xmas.

meeting in DC went well, waiting for the big metal bird to wing me back to blighty.

c u monday for some serious kd'ing

[7h] 03/11/2005 14:52

Certainly MK. I'll visit you within the hour.

VBR,
H.

[mkearns] 03/11/2005 14:28

any chance of an appearance on the old PB thread (currently PB71)?

[mkearns] 03/11/2005 14:27

afternoon H.

[wilmot] 30/10/2005 15:02

Sheds - Don't buy a Walton. Bag of sh1te.

[vinnie the bean] 29/10/2005 23:04

Rediscover the lost art of 'make and mend' with this beautifully packaged gift book for boys of all ages celebrating the lost world of the garden shed

'Every man should have a shed," a neighbour of ours once pronounced in a tone that made it clear that this was a place her partner could be banished to, rather than somewhere he would actively seek out. What she didn't realise of course, was that she was playing into his hands.'

This funny and charming book opens the door to the many possibilities of the garden shed - just about the only male bastion left in the modern household. The idea that every man needs a shed because every man needs to solve and make things is the basic philosophy behind 101 Things To Do In A Shed.

101 Things To Do In A Shed re-visits the kinds of projects that were popular in the 40s and 50s - the kinds of things that boys made first with their dad and later on their own. It looks back nostalgically to a world before flat packs when everything wasn't so neat and precise.

This book is packed with 101 tasks, tools, projects, experiments and ideas of all sorts, ranging from the relatively simple to the more complex, and promises hours of uninterrupted fun.

Whether you want to:
Create some useful knick-knacks, such as a picture frame or desk organiser
Dabble in some simple experiments, like the pulse recorder
Explore model making opportunities
Just enjoy a spot of peace and quiet with the radio and a beer
101 Things To Do In A Shed is a treasure trove of great ideas. Beautifully illustrated with retro line drawings and brimming with great ideas to keep men entertained for hours, this book is set to become the essential Christmas gift.



beware, santa is coming...............................vtb

[jonc] 09/10/2005 09:46

'Women are spending too much time in sheds, and not everyone's happy about it'(Not me I hasten to add)
By William Langley
(Filed: 09/10/2005)





The mystical covenant between men and sheds, an anchor of civilisation for centuries, appeared last week to be facing two dire threats to its existence; the advent of the £20,000 price tag, and an invasion by women.




Which is where the Shed Doctors, a voluntary counselling group offering advice to fellow shed lovers, come in. "I suppose people do get obsessed with them," says Sally Daniels, a Shed Doctor and an architect by profession. "They worry about their sheds and want the best for them. We try to help them."

[7h] 23/9/2005 14:42

Vinno:
I'm still well busy with the 'Mystery of the Disappearing Steam' in Shropshire, but when that's all over, I'll pop down and see you with a copy of a handy booklet entitled: Sheds, their Design, Construction & Management (a 7H publication). Have large stocks of some ancient Dows at the ready.....
VBR's
H.

[jonc] 08/9/2005 18:19

In the last five weeks I have bought both a shed and a pushbike...













I'll get me anorak.....