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Agreed and those that dont have a development side are holding up a lot better look at SHED for last mile logistics.
The development side though needs the building company's to build them, banks to finance and the clients to have the cash to pay for a fit out (can be £10m's) and the confidence to sign a long lease.
Above is that risk that the market is pricing in but agree with you thats there some cross referencing to the likes on INTU which is not a fair comparison
It's not retail in traditional sense, but large logistics wharehouses for online shopping, which means it's the future and it will grow for many years. Sure they can't escape the effects of the recession I am sure we are now in, but, the current price is ludicrous. I'm buying today!
Its the land bank and property development side which is causing the share price to tank.
The purchase of db looks very expensive with hindsight.
Development costs will need to be funded and is there a market for expansion at retailers? Who knows.
Im very long on this and will probably average down. If i wasnt in not sure i would be so keen to take this rather than a lower risk stock. Time will tell
You mean per year not month
I don’t understand the excessive drop. Thought the results were good and it would be a defensive against market issues
Update - i've bought 2500 shares. I'm buying another 2500-3500 more shares to create an additional income line of approx. £400 a month.
This is now expected to yield 7%.... Madness. It's reached my target price, but I may hold off. I expect results tomorrow to be good, however...
Yep - I see big assets going up in the near term as logistic arms, etc will be necessary. Death of the high street will also support here. But i'm targeting a lower entry to give me a yield of around 7%.
I see coronavirus changing business behaviour as far as less dependence on real-time deliveries and looking to warehouse more goods here. This seems like a share well positioned to take advantage of that change.
BBOX is sat on long term support at 136 so I took the opportunity to add a tranche of BBOX to my portfolio this morning.
Do they release any reason to why they dropped their target
Guess this is due to Barclays downgrade? Have sold a few recently but may buy a few more if it drops to their predicted 130p. Think yield will then be over 5%.
Couldn't really make a case for selling at 143 when around 160 was available & other than Brexit worries there's no reason for this to drop back to 130 ever again.
Hopefully this should now go into premium territory as it has for a considerable time of its life. I great source of safe dividend IMO. I've seen TRIG and UKW demand +10% premiums to their NAVs and feel this must be a better investment as not reliant on state subsidies and the demand for online logistic facilities is only going to increase with either an upturn or downturn in the economy. Should be Corbyn proof too. Wish I had more of this sort in my portfolio and look forward to the years ahead.
To see sp above 144p
However the sp has bounce up nearly 4p since going ex dividend
Thursday afternoon 143p. Seems too much resistance past 143.5p. Bought more ARS on the dip and NCCL. Will look back here under 130p
Most prop investment cos trade at a decent discount to nav .this is for several reasons .maily illiquidity.the product is difficult and costly to trade with stamp duty ,legal and agents fees .also marketing time .if a shed becomes vacant and an existing tenant is not responsible for dilapidation the landlord will have costly refurbishment .general maintenance needs to be factored in .they don’t lasts indefinitely.rent free periods and marketing voids also .
Look for example on the Pannatoni web site and other competitors .millions of sq ft available and masses under construction .re brexit I accept occupation rates are high but a lot of that is just very short term occupation for 3-6 months not the kind of deals tritax would ever do .
Brexit is hitting the big shed market as the people who lease big shed space are taking big strategic decisions and this is not the market to be doing that .they have been very lucky .no leases have recently expired or tenants gone under ,but in my opinion if they had the voids would not be filled immediately .just look at the voids the other market operators are holding .if you lease a big shed of 500,000 sqft at £6psf for 15 yrs you are making a big strategic decision .brexit is not helping their market or their customers make such decisions .i really feel future rental growth in this sector could be hit by an over supply of the big box product meaning evidence on comparable Lettings demonstrating lower rentals and larger rent free periods I.e poor evidence upon which to try and secure an uplift at rent review .its a solid share .should not see huge swings in value .well under pinned nav but hey have paid very full prices and that’s why you will not make a fortune out of it .definately worth having in a mixed portfolio if risk averse but don’t expect fireworks and great if you can pick them up lower .i am not buying at this price was quite tempted a few months back ,but sure I fill find a better entry price .
Morning Star currently estimates the NAV to be 149.98 per share. So even after today's rise it's on a 5% discount. For most of the past 3 years, you've been lucky to pick it up at anything below a 5% premium; the past 6 months have been an oddity. (Or, if you want a different narrative, you could of course argue that the past 6 months have been the beginning of the new norm.) It's clearly cheap now compared to its relatively short history. The question is: Why?
Totally agree JC
I'd sell my house and buy as many as I could if these could be bought for sub 120p. Unfortunately I cant see it happening. This is only going up
Tritax are not just a box storage company. They have huge clients who all need storage/warehousing. With Brexit approaching there is currently huge demand for storage and we are in the middle of the perfect storm... To our advantage...
In my opinion a bit of caution here . I agree its fairly solid share . No Stella growth prospects as they are paying very full prices for their investments , but getting a quality product and good tenants , but as i say not in my opinion . Any one can pay top prices and buy good stock . its not that hard if you are prepared to pay more than anyone else is
rather than picking up bargains . What worries me is the market for big boxes is strong currently and they were ahead of the curve buying stock but there is a lot of space in the big box sector sat vacant and coming through the construction or planning system . Its feeling like it might be fairly saturated fairly soon in their market place . Bit of a down turn and supply and demand go out of kilter and quite a bit could get knocked off the sp in my opinion . Tenants will then dig heels in for lower rents , more rent free and shorter leases .One to buy on dips in my opinion . i would be buying currently sub 120 p but feel 142 is a full price . I speak with 25 yrs dealing in the warehouse sector .
Yes. And that director buy just adds to my confidence in this company's future growth potential. "The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) has today declared an interim dividend in respect of the period from 1 October 2018 to 31 December 2018 of 1.675 pence per ordinary share, payable on or around 28 March 2019 to shareholders on the register on 15 March 2019. The ex-dividend date will be 14 March 2019. "
Doesn’t this go ex dividend tomorrow. Nice director buy at 142.6p