The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Adv
Strange that you think only those who are currently invested are allowed to make comments about companies or portfolios that interest them . Like Lude I would be a buyer but not at current level
Don't blame us that the SPS have fallen or the fact that you have no comments to make on the portfolio or individual properties
Like many other property companies the current crisis has prompted a SP cliffall and therefore opportunites to be appraised .Hence the current interest
However like Lude surprised to see REI disassociate themselves from being impacted by retail when the fact they are heavily involved especially with Crewe . Maybe that doesn't concern you that the current market value of Crewe is well below BV . So certainly critical of his commentary
Many of the properties I am familiar with .Farmed the same patch . Some I think are good buys Have no personal vendetta against Bassi whatsoever a shrewd operater but see his portfolio as more opportunistic than strategic and the forthcoming market will interfere with his MO of trading to make a profit
That certainly isn't a negative comment but obseravational as I see Bassi as a potential buyer should it drop much more to offer investors a degree of comfort
adv11 - dont take mine as a negative, its rare to be able to visit a site, given the data that was it in the jacksons site report for 22m, a few errors noticed, sadly far to many retailers are chasing rent reductions, so one has to bear the market pressures in mind, iii had a spread of about 5p hence I need to buy on a day with either a lower spread, or a lower price, not a drastic measure aiming to diversify thats all. pending investment, I find dividends useful too!
Sad to see two people who aren't invested monopolising this board in a time of crisis. One admits to wanting to invest when he gets the price down, the other with a personal vendetta against "Bassi". Why not stick to commenting on your own investments guys instead of trying to ruin that of others who rely on dividends to pay their bills ?
Lude
Yes safe to say Crewe is deserving of a big BV haircut and quite a chunky buy in the context of the whole portfolio.
Where Bassi was quite shrewd was picking up buildings around Colmore Row,Birmingham on short leases cheaply ,Hoping that some will renew leases or introducing more valuable uses
An example is one in Bennetts Hill where he got it away to Loungers on a longish lease and shipped out the investment for a nice trading profit .Sweet
Certainly damage limitation In Pontypool Done Brothers moved out on lease expiry to be closer in town Secondary location and they bagged Lloyds Pharmacy albeit the upper floors are vacant and to let
Those doors now shutting and any short leased properties in the portfolio the book values will be melting .
Should imagine Bassi will be having his hands around the throat and fingers up the nose of the corporate valuers when they cast their eyes over the portfolio in the absence of trading properties
Went to the crewe market place and had a look, Brighthouse in administration, another large unit beside it blanked out, I suspect some of the others will struggle and all the car parks nearby 12 week pay holiday except for REI's for which you have to do a mobile, followed the property sale link the other day 22M r u kidding, and if i recall correctly one of the news streweam said little in the way of retail - I am perpared to buy in but not at mid 30's, GLA
Should imagine that at some stage Bassi will take this private .The market for trading off-prime stock has effectively disappeared without distressing which has been boosting profits
Doors closing
Wouldn't describe the business as conservative more opportunist Scattergun more than deliberate and all roads lead to West Bromwich
Interesting he refers to Bearwood as Edgbaston !
Certainly more opportunities will present themselves in the market whether REI have the ballast to take advantage of those we shall see