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Oracle of Omaha - then there's you imbecile of Midlands!
People had enough of you on the Purple Bricks forum.
It's extra pocket money. You will be the loser not taking advantage of this great buying opportunity!
Let me guess this right you have no formal track record in property investment other than your home and ISA! Yet sit round critiquing this company. What is the purpose of you posting here then? Go criticize airlines, oil companies etc.
Talking sub-prime (heard it all now - please stop it). Do you know how to read a companies financial statement. Basic analysis assets VS liabilities. So in your eyes RLE must be going bust?
They rely on yield. Their core strategy isn't fixed on asset value growth that avenue is an addition. Very different story with Intu. Besides commercial property is usually on long leasehold (Moosh!). Purple Bricks is more likely to feel the property market fall. Values haven't come down by 40%, trading volumes are up. pre-lockdown. Any capex value drop in housing market will be seen when Furlough ceases and people get laid off.
Not going to get detailed with you as the statement you made shows how very little you know!! Stick to the pictures in the Financial Times. AS YOU WERE.
Nightwatch
Bless your cotton socks .You really do need to start using your eyes and read properly and stop relying on that gut of yours. Your attention to detail is sadly lacking .
You have got it wrong yet again .
All I said was that I have never been a Director of a major plc
Sounds like you brokered one of the properties in the portfolio. Which one?
"This stock is undervalued it's basic economics"
Well that is a matter for the market to decide .
One thing is for sure is that interrupted growth you optimistically refer to has come to a grinding halt
In a challenging market .The differential between investment and vacant possession value becomes all too apparent as asset management moves into a damage limitation exercise
The whole retail sector is due for a rerate . Your 15 years experience should tell you that in a challenging market yields on sub -prime investment property shift outwards.Property stock bought to trade is unable to be sold at a profit unless leases are lengthened and let to substantial covenants . This brings their whole MO into question unless they can raise a warchest
IMHO there looks to be a very limited selection of properties they can turn to book a profit .There are some and no doubt
they should be getting busy popping them out even if BV carbon zero .They will be able to use sale prices to try and give some of credence to the value of the rest of the portfolio -on the basis of a rising tide lifts all boats ,no matter some are shipping water
You have had sight of all the info on Crewe (The portfolio Crown Jewels) .Using your 15 years broking experience what is your opinion of its freehold investment value subject to and with the benefit of its existing leases in today's market willing seller,willing buyer
You seriously can't think this was a good buy at £20m .A costly mistake .
So basically you're not even RICS qualified yet have such highly opinionated (Plane spotter). Almost like a football fan not even playing Sunday pub football telling a premiership baller how to do his job!>. Hilarious.
I have over 15 years property experience and brokered deals up to £117 GDV on a given scheme. When you have no tenure in a sector other than reading papers and trolling Rightmove! LOL.
I 'really need to stop while ahead' - no mate you really need to get a life and quit while behind.
This stock is undervalued it's basic economics. What vertical hasn't been affected other than pharma, online retail, supermarkets.
"RLE has proven consistent growth year on year. "
You really have your head buried in the sand on that one if you think FY20 isn't going to halt that run
I reckon you ought to quit whilst you are still ahead .It seems that every time you come on here bristling with indignation as"friends and family "you are wide off the mark
"Do you own a commercial real estate company or sit on the board of a major Plc. Are you RICS certified even..?"
Certainly not or ever have been on the board of a major plc .
The West Midlands property market is of great interest to me and will report as I find
Come to think of it with all you nitpicking - what are you even doing here given your evident dislike for the company.
You're the sort of person that prays for sunshine, moans and then decided they wanted rain.
This stock is undervalued.
RLE has proven consistent growth year on year. Strong balance sheet, asset vs minuscule liabilities,
Seasoned pro at the helm.
Then there's you posting absolute nonsense everyday. Do you own a commercial real estate company or sit on the board of a major Plc. Are you RICS certified even..?
Not assuming anything just stating a fact the portfolio is industrial property lite . Many property companies in the Midlands have farmed the industrial property market successfully like Paul White /Nick Schwarz 's Revelan right on their doorstep
"Nope not scratching my head. Nor is anyone else!"
However suggest you speak to a few Brum commercial estate agents then
They are surprised that Andrew Osborne (who is perfectly capable ) was recruited time served with property companies who have been very successful in trading industrial property Kenmore and Highcross under Peter Gubb
So very experienced in that arena
Maybe arriving in a culture where Bond Wolfe have little skin in that field
Why would I want to challenge his decisions ,they can't be reversed
You are as good as your next deal Sure he will sweat them as best he can Very capable of course but he is not King Canute especially with some of the stock they are holding
Why come on here and assume...
Paul Bassi is actually a very easy person to get hold of and will respond to communications. Challenge him directly on his decisions!
Look forward to you posting the response from your email exchanges on here!
Nope not scratching my head. Nor is anyone else!
What was interesting in the update in January Bassi that makes mention of
"Consolidation within the real estate sector is likely to create corporate activity during 2020, to follow the recent acquisitions of Mucklow and Hansteen and we remain alert to opportunities that are in the best interests of our shareholders."
A great couple of companies with Mucklows whose portfolio is predominantly based in the West Midalnds Hansteen too had a big presence too including the Saltley Business Park
However, Hansteen were 100% industrial property and Mucklows portfolio heavily skewed towards industrial
where they developed their own land as well and no retail
Totally chalk and cheese with RLE where shareholders must be scratching their heads why this industrial property asset class is bypassed
Where there's muck there 's brass springs to mind
Priceless
" What has all your efforts delivered you over the past week?"
Again sorry to disappoint , completely wrong again and polar opposite .It seems that you are still not using your eyes as I had already advised in response to your question
Having advised you of this on Tuesday .I have enjoyed the best week of the year thanks and there have been plenty of bad ones since advising you that having recently increased Purpelbricks to my largest shareholding being up 45% since Tuesday
TUESDAY 2nd June
"Tend to speak as I find and you couldn't be so far wrong as Purplebricks is my largest holding at the moment but there operational performance still leaves much to be desired"
"You might be good at reading news, however I question your ability to read stock value. "
I have kept well clear of mentioning the"stock value"as Bassi could easily take this private That certainly would be a bonus prize where book values are taking a hammering
What I have done is to do some research and get a steer of the values of the individual properties and how they are changing .
Unfortunately any"news"if bad like reporting leases being broken are kept well buried .
As ever DYOR and keep those eyes peeled
You laugh at my gut yet it keeps giving me free money! - What has all your efforts delivered you over the past week?
Intu - I acquired stock the previous week when you were posting the same stuff as below on the stock and even challenged me on the forum with the whole debt issue. Got in it went up I sold out and went back in beginning of the week before take off , confident it still has legs over the next few weeks.
Purple - Got in a week prior to yesterday major gains. Funny thing is before the stock even started jumping up yesterday I posted 50p prediction when it's been holding firm around 30-40. You actually posted and laughed at me again on the forum. Well we know what happened there don't we???...it exceeded my 50 expectation.
This will go well into the 40's it's totally undervalued. You might be good at reading news, however I question your ability to read stock value. Call me lucky but I've certainly made some great calls over the past week! So please save the negativity as it won't be long before this goes up and you lose face yet again. As you were GL!
Well I am sorry lads ,I guess we must just agree to differ .
Been searching hard for reasons to invest but there is too much lumpy retail that weighs heavily for me which is in for some further distressing
They are going to have to buy in some retail expertise
They have headed on in to retail property chasing yield well outside their skillsets
In fact it was only in March this year when they said this.They must have forgotten what they own .
"The portfolio has downward valuation pressure on our retail assets of 6.2%, due to the negative
sentiment towards the retail sector generally, despite the fact that we do not
have any exposure to department stores, indoor shopping centres or
out-of-town stand-alone retail "
The ex BHS department store unit in Walsall was not a good investment empty for a couple of years.
Even the occupier not mincing their words .Not a vote of confidence for RLE's investment entering the arena as last resort
https://www.retailmultipleslimited.co.uk/
"We are experts in turning around distressed commercial real estate"
Fair play to them they got the Post Office in as a pump primer . They only opened in June last year so sadly the lockdown has come at a particularly bad time
Good luck to them shifting this amount of space
Https://www.retailmultipleswalsall.co.uk/resources/Spaces%20for%20Rent.pdf
What would you value the rental income at which could be over £200kpa ? Cerainly taken a walk
someone seems to be up early this morning, must have had a bad night with all the toxicity pumping through his veins. Wonder what he is saying ? Actually, no I don't.
Night
Yes,indeed I now feel obliged to have a further hunt around the portfolio to illustrate to you that sometimes it's wise to make use of another part of your anatomy your eyes rather than your gut in making your decisions .
Take a look at what is going on as it seems to have passed you by.
Break clauses are being exercised .These were taking place before lockdown . The usual lease provisions for triggering break clauses a minimum of 6 months before the due date to give a chance for landlords to sort out dilapidations claims
Travelodge will file documents for a company voluntary arrangement on Wednesday so how that pans out for Maypole is anybody's guess
Take a little look at this Central Wolverhampton office investment
2 VENTURE COURT WOLVERHAMPTON
Let to Persimmon Homes and Santander .
These are modern offices close to Wolverhampton town centre with a couple of decent occupiers
Acquired in 2017 with 4yrs WAULT
A coin toss that the tenants would renew their leases and Persimmon Homes have left leaving half the space empty with the hard task of replacing a quality tenant in a difficult market .Persimmon Homes jumping ship at the earliest opportunity
Price paid 2017 £2,500,000, excluding acquisition costs which would be 5%+. Acquired at a net initial yield of 8.37% producing £222,565 p.a. The property comprises a modern office on a busy business park and is let to Santander and Persimmon Homes with 1,952 sq ft of vacant offices to let .
7,542 sq.ft has become vacant taking a huge bite out of the £225,000pa rent roll
https://www.bulleys.co.uk/venture-court-1226-p#
Perhaps you would like to engage yet another body part ,your brain and place a value on it today
Certainly a country mile from £2,500.000.
What's your gut feeling on that?
https://search.savills.com/property-detail/gb30290000105452
£90,000pa
This now on the market by way of assignment to dampen affairs .Bingo Cafe only opened in 2017
Hopefully RLE have got the main Mecca covenant on the lease so at least they are guaranteed the money !
I will be sure to ask your permission next time I post something . Be careful you don't get indigestion with that gut of yours
Stalking :) Clearly confusing your own desperate acts for attention as being desired.
No need to worry about posting news. People who invest have access to public information as you do.
Might be best to reserve your energy and invest it into something more fruitful.
Well since I tend to invest in property related companies you will find me on a few others too
Bless,stalking sounds like someone bristling with some bristling indignation As if anyone takes any notice of individual posters in their investment choices
Keep guessing as I have never shorted in my life . In fact buy all shares in a SIPP and prohibited from doing so bad luck on that one
Tend to speak as I find and you couldn't be so far wrong as Purplebricks is my largest holding at the moment but there operational performance still leaves much to be desired
Stick to your gut !!. Pop back in on occasion as I will post anything I find relevant about the individual properties
Sain@vision - I've just seen your posting on the Purplenricks website...Negativity, negativity, negativity
I get the impression your agenda is to try trash peoples investments. I smell a RAT (shorter)
Not worried. My holding here is safer than in the bank, especially at these prices. Only way is up.
We had a disagreement on the Intu forum the other week. I've made solid return since then so happy.
I'll stick to what I feel is right as my gut is rarely wrong.
Certainly have some respect for him having had to fight his way through the St Phillips Square property establishment who werent exactly welcoming
He must be supporting a wry smile to have come full circle recruiting someone like Crabtree an Ex Wragge senior partner the very top of that tree to the stable at the end of his career
However he has found it more difficult in recruiting high ranking street fighting property agents which there are plenty of in Brum
Sounds like you and ADV are friends and family !.
Its not just unceratainty it's reality those properties flagged up as "underpinning the portfolio " in a recent RNS like the Sainsbury's convenience store in Nottingham gone leaving a gaping big hole unlikely to be filled
What is worse that this was shovelled out in a RNS when Sainsburys had already triggered the break
It was a poor investment choice in an area geographically distant from their knowledge base
Here is what another chat operater said of that investment
"What an appalling investment ( I know the area well), bordering run down estates, semi industrial, no where to stop/park, a blizzard of average speed /traffic light cameras. It's on a main arterial road out to the M1, just get the hell through & out of it.
As a holder hope this isn't a model of the investment criteria"