Warehouse Reit Share Discussion Threads

[igoe104] 21/12/2017 10:01

Tremendous acquisition.


Warehouse REIT plc
(the 'Company' or 'Warehouse REIT')
Warehouse REIT acquires seven-asset industrial portfolio for £18.25 million
Warehouse REIT, the specialist warehouse investor, announces that it has exchanged contracts to acquire a portfolio of seven industrial assets in the North West of England for £18.25 million, reflecting a net initial yield of 7%. This latest transaction, which will complete over the course of today, brings the Company's assets under management to £167 million, as it continues to successfully deploy the proceeds of its AIM listing in September 2017.
The portfolio totals 326,254 sq ft and comprises a diverse mix of asset types with an average unit size of 15,000 sq ft, as follows:
- Road One, Winsford (78,178 sq ft warehouse)
- Parkway Zone 2, Deeside Industrial Estate, Chester (60,081 sq ft production facility)
- Quantum Park, Manchester (46,507 sq ft trade counter)
- Europa Trading Estate, Kearsley, Manchester (40,000 sq ft warehouse)
- Wardley Industrial Estate, Manchester (38,901 sq ft warehouse)
- Linkway Industrial Estate, Middleton (48,074 sq ft warehouse)
- The Oakfield Centre, Sharston, Manchester (14,513 sq ft warehouse)
All assets are situated in established industrial locations within the 'Northern Powerhouse' region. The assets each benefit from excellent motorway connections and are all either in urban areas or on strategic infrastructure links, 5 of the assets are within only 6 miles of Manchester City Centre - in line with the REIT's 'last mile' investment strategy.
Demonstrating the strength of tenant demand for the portfolio, it has been acquired with less than 4% voids. A low average industrial passing rent of £3.49 psf presents significant reversionary potential, while c. 72,000 sq ft of space is subject to lease expiries within the next year, providing management with a near-term opportunity to grow rents 12% to ERVs. Furthermore, potential planning for 24,000 sq ft of additional space creates opportunity to increase rents over the long term through this acquisition.
Commenting on the transaction, Neil Kirton, Non-Executive Chairman of Warehouse REIT, said:
"This portfolio, and the attractive yield at which it has been secured, clearly fits with Warehouse REIT's investment strategy of acquiring good quality, well located assets that offer compelling opportunities to enhance value through asset management. We look forward to integrating these assets into our wider portfolio while we continue to source new opportunities to effectively deploy the remainder of our IPO proceeds in order maximise the income returns we deliver for shareholders."
The Vendor was advised by Stewart Montrose on this transaction.

[igoe104] 18/12/2017 07:29

Warehouse REIT plc
(the 'Company' or 'Warehouse REIT')
Warehouse REIT acquires Plymouth warehouse for £4.3 million
Warehouse REIT, the specialist UK urban warehouse investor, announces that it has acquired a 66,000 sq ft warehouse in Plymouth, Devon, from a client of BMO Global Asset Management, for £4.3 million, reflecting a net initial yield of 7.4%.
Constructed in 1985, the well specified property sits on a 3.9 acre site within the established Parkway Industrial Estate. The entire warehouse is let on a 25 year lease, with over three years to expiry, at a low passing rent of just over £5 psf. The tenant has subsequently fully sublet the space to two occupiers, an automotive preparation and storage firm and a global lubricant solutions provider, with the rent on the majority of the unit being sublet at c. £5.50 psf. The asset therefore offers good reversionary potential through negotiating a new head lease agreement, whilst the accessible location and its adjacency to higher value warehouse uses offers longer-term development opportunities.
The warehouse benefits from its close proximity to the A38, a major arterial route connecting Cornwall in the South West and Mansfield in the East Midlands, and is just one mile from Plymouth city centre. The Parkway Industrial Estate is home to a diverse range of occupiers from the retail, trade and logistics sector; leading UK retailer NEXT is due to open a Home and Garden store in 2018, which is expected to further improve the overall sites desirability.
Warehouse REIT were advised by BCMRE and the client of BMO Global Asset Management were advised by Alder King. Following this transaction, Warehouse REIT has invested over £145 million in its pipeline of warehouse assets following its admission to AIM in September 2017

[igoe104] 27/11/2017 07:31

Warehouse REIT plc
(the 'Company' or 'Warehouse REIT')
Warehouse REIT acquires three industrial assets for c. £5.3 million and completes HSBC refinancing
Warehouse REIT, the specialist warehouse investor, announces that it has exchanged contracts to acquire two separate assets, one in Stone, Staffordshire and the other in Carlisle, and completed on a site acquisition in Banbury, Oxfordshire. The aggregate purchase price for the three transactions is £5.3 million.
The Company also announces that, in line with the IPO prospectus, it has secured new and enlarged financing facilities totalling £65 million with HSBC, to be used to fund pipeline acquisitions.

[igoe104] 21/11/2017 16:45

Some large buys have come in this afternoon, don't think it will be long before these move upwards.

[callumross] 20/11/2017 13:32

Here is the tip;

[igoe104] 17/11/2017 17:34

Didn't realise they were tipped yesterday, I'll have to check it out.

Lots of buys this afternoon, my feeling is a big investor wants out and has created some overhang shift.

[maiken] 17/11/2017 08:39

igoe104,I've joined you with a small position after being alerted by Investors Chronicle tip.I like the basic premise,plus the fact that new build costs are well in excess of their valuation of the existing portfolio.Management have plenty of skin in the game so let's see how it goes...
I note Investec own 25%.I have a contact there who should be able to keep me in touch with their view.

[igoe104] 08/11/2017 15:35

Telegraph write-up.

[igoe104] 08/11/2017 15:25

I've just purchased 20316 shares at 99.49p, so I've started this new thread.

I personally think this is a fast growing sector, and online shopping is only going to increase.

and I love the management stategy, so this is a long term hold for me.

[igoe104] 08/11/2017 15:22

!FOLLOWFEED

WEB-SITE.



Warehouse Reit is s rapidly growing, active UK warehouse investor
Focused on becoming the warehouse provider of choice across the whole of the UK
Working in partnership with key occupiers to enhance occupier experience.
Forensic approach to new property acquisition, to ensure compatibility with future occupier requirements thereby creating investor value
Managed by Tilstone Partners Limited.


Key Stats
40 assets, 340 Tenants, Occupancy rate of 92%. On average our assets are 1 mile away from urban centres / major highways.


Latest Results.


The rise of online retailers has seen demand for warehouse spaces rise exponentially, with these types of business accounting for just 1% of demand in 2007 but 29% last year. Online sales are projected to nearly double by 2021.
The trust said available warehouse stock was ‘close to historic lows’, and vacancy rates had been falling over the past five years from double digits to just 4%.
‘The low availability of rental stock together with increased demand will give rise to the potential for rental growth.