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Recent experience , I was putting a multi let into auction in the Bristol area , I told the tenants I wanted to sell up , they offer to buy the site , they formed a ltd co , got funds from Handles and now own there own units .
Another 120k sqft shed I own , tenant is due a rent review , approached me with a offer to buy, that values shed at £4.00 per sq ft rent x12 yp , deal with solicitors now .
My main exit from the market is selling to my tenants at around 12yp and my stock is nowhere near up to Hansteen quality . Smaller units will be the way to go as retail shops are closing and retail moves increasingly online from factory units , i have several hot food takeaway setups running from units around 2000sqft , that deliver and only take orders online .
Good luck all
Forever hopeful !.
However still a lot of private investor demand for sheds irrespective of quality so there might be somebody in the market willing to take a chance on a break up .
Plenty of demand by occupiers to buy in freeholds for themselves so no doubt Hansteen taking advantage of that There are also some new kids on the block who fancy their chances
It only needs one like Warner Estates last time around for Ashtenne to get us home and hosed !
Apart from units aimed at the trade counter market . Screwfix and the like there has been very little activity in building new
individual small units so limited supply appearing over the last few years.Rents well in excess of £4.65persq,ft Supply being released by break up of larger units
Yes I agree increasing voids ,yields pushing out and capex required for updating new roofs etc the tide has turned
Had 94-96p in as a rebenched ceiling so took the opportunity of releasing a few yesterday
I doubt this very much. HSTN now made up of poor balance sheet assets and the dross that is AIF. exceptionally granular assets facing the reality of increasing void and non-recoverables when the occupancy market takes a turn which it inevitably will. Desperate to sell with no buyer in the market. all key players have run the numbers and no one wants it. Cant see WHR revisiting. No longer aligns with the portfolio direction.
Maybe once Warehouse REIT. have absorbed their recent Aviva purchase they will return to Hansteen for another bite of the cherry
Yes time for a sharp exit whilst the investor demand is there . If past performance is anything to go by the dynamic duo will find some impatient money too offload before the well dries up
https://www.business-live.co.uk/business/ashtenne-holdings-duo-net-10m-3997060
No surprises for guessing who came out the rightside of that deal as Warners eventually went west
Still here, currently offloading my own stock , going to cash for next cycle . Look after yourself Mr .
Blimey no posts here for 18 months .Hansteen are a gem of a company led from the top. Industrial investment market has been a bit frothy with new kids on the block entering which have depressed yields so very limited buying opps
No doubt the dynamic duo are already preparing an exit for some portfolios whilst demand still bouyant .Failing that nothing wrong with holding sheds bought at sub £50/60per sq,ft at well under the costs of building where there is limited supply .Steady as she goes
Sorry to keep on about this, but is anyone using First Direct Share Dealing Service - and if so have you received the cash distribution? I keep asking FD and they keep saying that they are investigating, but I have still not received the 39pps
I'm still waiting - woe oh woe oh oh - Am I Diana Ross? You're not quite sure now are you? But then would she be quite so bothered about her 35p per share?
35pps has arrived in my Interactive Investor account.
Thanks for your replies, I will give it a few more days before chasing:)
I can confirm that I have received my 35pps return. I deal through Halifax. Cheers.
I have not yet received the cash distribution. This is the Interactive Investor statement for the HSTN cash distribution - Accounts are expected to be updated around the 11th May 2018. Your account will be updated upon receipt of the proceeds but in some circumstances there may be delays in the proceeds being credited to us. Please allow 10 working days for your account to be updated.
Has anyone received their capital repayment of 35p per share yet? - I was expecting it by now - am I wrong?
drop..?
What looks to be happening is that the lads have decided to continue to take advantage of a buoyant market to dispose of more stock .They are the consummate dealmakers having exited Ashtene to Warner Estates just before the market went west .This left Warner holding a very expensive baby which eventually precipitated their demise Wouldn't be surprised if they sell stock lock stock and barrel before the year is out .Already confirmed that it's difficult to get stock at the right place. I can't see them sitting on their hands collecting rents till distressing takes place and the band strikes up again . Job well done . We have made for you the shareholder a heap of cash by buying right .at the right time.Thanks very much for the cheque .Goodnight Irene ,See you soon.
"Also, whilst I think Hansteen have done a good job, you have to question if they really delivered superior growth; what I mean here is the company has just ridden the industrial market up... possibly through no skill of their own. As an example the broad level IPD index for Industrial property did 20% last year ......." The seeds of Hansteen success were sown when Watson &Jones who had secured their wizard reputation at Ashtenne managed to secure a goldplated array of investors and secure finance in a distressed market buying stock counter-cyclical at double figure yields. Without them the journey would have stalled in the traps Industrial property deals just don't happen by themselves .W&J offered deals off market as they are known performers and selecting the right stock.Its difficult to place a value on that but they richly deserve their personal rewards Just as important as timing the entry right is timing the exits. The market is still strong (but for how long) and the lads have chosen exactly the right time to jump ship and cash in some chips. The European portfolio a masterstoke and the sale of the very dry stock to Warehouse REIT another sweet deal who seemed to have arrived at the party very late . Cash soon will be king
These shares have been a target of the short sellers .I got out when heard about this and thought the incentive plan too generous
Very interesting point. Thanks.
A good company, but from latest results today the founders having a laugh at shareholder expense. Under their performance terms they have set aside �19.1m for the founders with one more year to run on it (part of a 3 year deal). Now given they have hit their performance in the first two years - of achieving 10% compound return over 3 years - the founders are going to reward themselves this year 25% of all additional returns for 2018. What this means is if the company deliver 10% to 15% total return this year (which is feasible given the strength of the UK industrial market) Hansteen will be paying the founders somewhere between �35m to �40m. Please note the long term incentive plan was formulated in 2005 (back in the casino banking era of pre Global Financial Crisis). Also, whilst I think Hansteen have done a good job, you have to questions if they really delivered superior growth; what I mean here is the company has just ridden the industrial market up... possibly through no skill of their own. As an example the broad level IPD index for Industrial property did 20% last year on an ungeared basis (no debt) which demonstrates the whole industrial market is booming. So you must question if the founders deserve the potential of �35 to �40m when most of the return is just driven by the broad market and not necessarily by management skill. So I think shareholders a getting a super bad deal in the Hansteen Founder Incentive. This is something shareholders should be on top of. EPRA NAV per share includes the impact of dilutive shares and dilution is required only to the extent that the results to date have exceeded the full target to 31 December 2018. Under this methodology the accrual to 31 December 2017 is 6.5 million shares to each of the Joint Chief Executives. As the full three year hurdle has been met by 31 December 2017, the value of the awards will increase by 25% of all additional returns made in 2018.
SP looking very attractive at these levels .Keep selling them to Warehouse REIT
They certainly are .They know when to buy and sell Institutional appetite still there for industrial property Jones & Morgan will be serving it up
Another good deal announced today with Industrial portfolio being bought and then sold for a nice quick gain. The guys running this company really are a class act.
Could be a rerun of the dynamic duo's deal with Warners selling out with Ashtenne Perfect timing for an exit These boys are the consummate dealmakers
Lets face it Hansteen have been one of the success stories of AIM .Kicked off at just �125m the dynamic duo with a Board oozing with quality and some big ticket shareholders they have moved from strength to strength , cracking deals out of the top drawer and the summer EU coup. A job well done and a glass raised from a grateful shareholder