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Well I suppose looking on the bright side they have already written down most of the value of these old chestnuts but suspect the valuers will be busy again with the haircuts. Shouldn't imagine though that the whole of those losses have been factored in
Not much asset management or adding value going on here . Massive haircuts on price and they have been trying to sp in them as good deals At least Bond Wolfe and Bond Wolfe Auctions are trousering some tasty fees
Keep watching those dividends
Change in strategy Looks like they are shipping out the dross and crystallisng losses
https://twitter.com/bond_wolfe/status/1395735142401036289
They had it on for £3.5m
hxxps://bond-wolfe.com/wp-content/uploads/2019/06/Bridge-House-Walsall-Investment-Details-2.pdf
Had it in the Allsops auction the other week but withdrew Guided less than £1.5m
Another big haircut
hxxps://auctions.allsop.co.uk/lot-overview/freehold-leisure-court-and-office-investment-with-development-potential-in-walsall/c210506-022
Bought in 2010 .I wonder what it was sitting in the books at .
Real Estate Investors plc (AIM:RLE), the West Midlands based property group, announces that it has unconditionally exchanged contracts to acquire a retail parade in a prime location in Rugeley town centre in Staffordshire.
The purchase price is £900,000 with an initial rental income of £75,250 per annum and an estimated rental value ("ERV") of £82,250.
Classic RLE out of the top drawer How to make a massive price haircut look like a good deal .Disaster zone as W H Smith didn't renew the lease shredding the value of the investment .
Rugeley sells at auction for £520k . The same parade they had been marketing for £950 k for sometime
Https://d318h7gdotxtz7.cloudfront.net/1/GB/a9a0e48f-1e33-43f9-b666-bd296df3ad7a/1c/11c122f6c85dad01d52d1fd9cc5d69a9.pdf
https://twitter.com/bond_wolfe/status/1395025540441051141
priceless
"We are delighted to see this #Investment/#Development opportunity with a current gross income of £24,700 pa with the potential to grow to £90k pa once fully let sell at
@BondWolfeAuc
today.
Further proof that the confidence is growing in retail property and on the #HighStreet."
Correct but they haven’t stated that there will be quarterly dividends this year, yet.
My fav is Winkworths .Steady hand on the rudder with a very low franchisee failure rate .The RNS are polar opposite to RLE,no burying of bad news and a CEO least likely to be shipping into the company one of his white elephant assets
It's just a shame RLE started to punch above their weight and venture out of their comfort zone
They farmed the fields around Colmore Row well but now paying the price for chasing yield over the last 6 years where the chickens are coming home to roost with large voids now appearing on recent purchases
Oldbury right on their doorstep you would have thought after 4 years Bond Wolfe would have found a tenant and now a double void with Npower vacating.
.
This is going to impact on dividends over the next few years unless they can pull a rabbit out of the hat
David, Next Lloyd's divi is 25 May.
My particular favourite is Victory Park Capital/VSL. Some people are wary of this type of company, but they pay a massive dividend, I get over 10 percent yield. They are also currently on a large discount and buying their own shares. They already own a large number of their own shares and the directors also own a large amount. I would love to add more but am already well over what I set as a maximum investment. And they are due to announce next divi any day. Similar companies are RM Securities and Real estate Credit.
I only now invest in quarterly dividend payers as I get bored with twice a year. My biggest success at the moment is Chelverton, closely followed by Regional REIT. Up over 60 percent because I invested at the right time.
Currently in 67 companies having sold Shell and BP last week, with an average yield of 6.04 percent. Based on my buying price. This quarter and the last have been amazing. Just need NRR to restart dividends with a bang, and PCA to start playing fair.
Lloyds were due to start paying quarterly dividends last year , cancelled due to COVID, I’m not aware that they will be commencing this year.
Apologies but posting this here after a discussion on ISA benefits and Aviva, Llloyds and Real Estate Investors. I think Real Estate Investors is a prime addition to the question. What do others think? Real Estate Investors is for me a real positive in many ways. Thoughts?
RE: Taxes don't have to be taxing at all.Today 16:27
it must be said that utilising tax advantages makes sense. So if we look at using our ISA allowance , where all profits are tax exempt, then we are on a winner. 20K a year to shelter from the tax man is surely a no brainer. We have Aviva in the portfolio and as the last poster said Lloyds is another to be put in. Let me add in a 3rd - RLE - Real Estate Investors which is providing a near 8% return on dividends. So before long our 20k a year is now growing nicely and all profits are tax exempt. With these three shares in that ISA what returns are we expecting? I consider 6% a good return so far. All so soon our ISA shelter is turning in to an ISA ISA baby. Really like the nominations so far but I am sure there are more opinions out there!!! All it has to be is ISA eligible and a decent return. any suggestions?
Aviva - Decent return and growth
Lloyd - Growth, quarterly dividends and a decent return
Real Estate investors - Growth, undervalued to NAV, quarterly dividends and a decent return
As always DYOR but as an investors forum this is where we find our forte!!!!
Good luck to one and all and may your gains always exceed your losses
Keep your hands firmly on those dividends lads . They will help mitigate the cliff value in share price and folio value over the last couple of Years
The phrase "lost a shilling and found a £ springs to mind "
Talking of trains
Oh Mr Porter what shall I do .I took a train to Birmingham and unfortunately ended up at Crewe
Current Vacancies there
Crewe Shopping Centre
Unit 16-17, The Market Shopping Centre £80,000 Available
Crewe Shopping Centre
Unit 18-19, The Market Shopping Centre £100,000 Available
Crewe Shopping Centre
Unit 21, The Market Shopping Centre £27,500 Available
Crewe Shopping Centre
Unit 6/7, The Market Shopping Centre £80,000 Available
Crewe Shopping Centre
Unit C, The Market Shopping Centre £130,000 Available
Once again a stock that just keeps on giving. What's not to like. Thanks RLE !! Good fortune to all RLE investors
The dividend just arrived is the 12 noon special from Leamington Spa, Bromsgrove, Birmingham, Wolverhampton, Crewe, Coventry and Dudley. Heading to Pontypool, Ilfracombe, Swanage. Southampton and Kent.
Happy Days fellow investors.
Don't confuse cynicism with questioning of governance when the purchase of a property owned by the CEO has performed badly where there was every possibility that the major occupier Premier Inn would break their lease at the first opportunity when they were in advanced discussions with planners on an alternative site close by
Sorry, message is filtered, but good to know ur ok and up early for a long day of cynicism.
Priceless for someone the company cheerleader who doesn't read the posts is now somehow guessing the contents
You then have to question somebody's addenda who posts on here fawning refusing to acknowledge what is actually happening at the coal face that a number of purchases in recent years have been poor decisions
Seemingly happy to remain oblivious of the huge voids that appearing and two of the major rent payers have disappeared
and that this might actually affect future dividends
Somehow finding that the CEO has stuffed a property he personally owned into the company where the main tenant has broken the lease at the first opportunity decimating its value as somehow acceptable and now shareholders are left holding the very expensive baby
What I find particularly unpalatable that this important material event has been buried
ADV seems to forget that more research is often undertaken to choose to not invest
I remain open minded
It was sarcasm as far as our uninvested long term cynic is concerned (sorry can't see/not interested in what he says).
But I do actually mean it as far as the board are concerned. I genuinely feel they have investors best interests at heart and they have reduced their own bonuses. It is something I look for in companies I invest in, and there aren't many about. RLE, Jarvis, AEWU, VSL. Much rather be in these companies that have kept dividends coming during the darkest times, as opposed to those that cancel dividends they have already announced, like LAND and BLND.
As far as I am concerned, people who constantly comment on companies they aren't invested in, and have no interest in ever investing in, should be dragged through the courts and be answerable for their comments. Mr. Bassi, are you listening ?
Smudge
Adv is Treasurer of the Bassi Fan club who is easily swayed by the dividend and the candy floss presentations
He means every word of f it
They have just lost their highest paying tenants Premier Inn and Npower and the silence is deafening
Most of their dice roll recent purchases have come home to roost Birch and Birchfield House Oldbury both empty Titan House Telford empty Crewe voids appearing Leicester big lump of empty space Wolverhampton half empty block West Plaza
It's gravy all the way for Bassi .Thumping great salary share awards and to cap it all managed to stuff his personally owned West Plaza in for £9m which Ii would guesstimate with the huge void probably wouldn't fetch £6 m in todays market
Hi, do you mean this or is it sarcasm? ( genuine question) reading some comments others arent too impressed?
A very well deserved award to Mr. Bassi and Daly for their services to shareholders. Well done lads.
The problem for RLE is not so much rent collections but having less rent to collect in the first place .Great gaping voids the CEO likes to keep firmly buried appearing in the portfolio.
Mix in unrecoverable service charges and revenue is heading in the wrong direction
I guess perfectly undertstandable in the case of West Plaza avoiding embarrassment and not wishing to shine the light where this originated from in the first place
Excellent news that AEW Uk have taken legal action, and won against companies who can but won't pay their rent. Hopefully this will have reverberations throughout the sector.
Investors presentation yesterday with a Q&A session where any more difficult questions were left unanswered on the plate
One he did choose to tackle
"The portfolio is often referred to as "diversified ". Yet being geographically based in a region which is a distribution hub at the confluence of 3 motorways and in addition home to a thousand industries there is a complete absence of industrial ,warehousing and logistics property in the portfolio .Why has there been a policy to avoid buying this asset class especially as the current investment market is very robust ?"
His response was they lacked expertise
Forgetting he had recruited Andrew Osborne time served in industrial prop .investment
That Mucklows were market leaders -although the. maj of their portfolio was self -developed
Furthermore he saw no value .He must be the only investor in the Midlands that hasn't ! The hottest ticket in town
Rollback to 2016 If he had dodged Telford (now empty) Oldbury (Both buildings empty ) and West Plaza (half empty)
One of the office buildings at Oldbury been empty since purchase and likewise Telford .The Market Centre Crewe and had bought industrial property instead they would be sitting a lot prettier today
Certainly not dead but there has been a structural shift in capital & rental values for both in and out of town .
Hammerson have just shifted a portfolio of 7 retail parks to Brookfield for £350m which they had previously got away to Orion pre-COVID for £400m
The CEO refers to"adverse sentiment"Its a little more entrenched than that
It will be interesting to see if Pea****s reopens at Crewe.If they do no doubt will be seeking a huge haircut on the £175 kpa rent they have been paying
As ever DYOR
Don't believe anyone who says the High Street is dead!
https://www.dailymail.co.uk/money/comment/article-9450505/The-High-Street-thrive-says-M-S-boss-STEVE-ROWE.html