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on my watch list today. Very strange why people would buy today and not yesterday.
Hi saintly. The Covid dip a year ago was key to getting some great yields. Fortunately I had cash at the time and was out of a few companies, so getting in at the lows made 5% yields into 10% and above. I will keep most of these forever to lock in the yield. VSL is my top yielder, with Regional and AEW UK, RM Sec, and Chelverton not far behind. I took profits from Jarvis, BlackRock WM and BlackRock Energy this morning to give me a good start to the new year, and will gradually rebuild in those. Also sold out of Gore Street, and will give Primary Bid a try to buy Gore back at the lower price. NRR also looking good today. I've never sold any REI, just keep adding, although I've reached my limits now.
So the potential upside is Bassi+friends & family coming into take this private and save the day and face at say 41p a share.
They might get away with that
Certainly anyone who has bought in here recently would get a good pay day .Not so good for those who arrived at 55p but at least have had some dividends to mitigate the capital loss
Blinded by the dividends .
The Alternative RNS -The reality
Contracted rental income has cliff fallen from £17.7m pa to £16.7m pa and will continue to fall this year with the devastating loss of income to come in Q2 from 2 of our principal rent payers going west .Premier Inn and N Power the loss only partially mitigated by the lettings in hand .
We really haven't got a clue how to stop the rot at the Market Centre , Crewe the voids piling up as its way out of our skillsets .It's started to rattle and the centre manager has to deal with the tumbleweed but thank god for Burger King nicking part of our car park .Every little helps .
What on earth is going to happen in the future when Cordwell's scheme kicks off .heaven knows!
We were really done up like an Arbroath Smokie when the Scottish funds stuffed us with Crewe and their other retail holdings in Walsall
They saw us"the yield chasers"coming .
If we keep repeating in our Annual reports that we don't own any shopping centres and department stores maybe the punters might forget we own The Market Centre Crewe and the ex BHS deaprtment store in Walsall . .
A good time for Crabtree our Chairman to quietly disappear before it gets too sticky who was taken on to add a bit of gravitas to the BODS,a former senior partner of Wragge.
Despite all the efforts to try and sell some assets to crank up a war chest and achieve sales at book values we have only managed to shift a further £1.48m of assets . Perhaps our only chance this year is some of the Bromsgrove stock .
Fingers crossed .
"Strong occupier interest in neighbourhood and convenience retail assets (36.6% of the portfolio) and out-of-town office stock (approximately 71.83% of our offices)"
Sainsburys our anchor convenience store done a bunk and 39% of our office portfolio experiencing increasing voids notably Telford, Oldbury West Bromwich .Wolverhampton and Leicester
We ain't half got our work cut out to shift that lot .no amount of activity on the M42 is going to mitigate that.
Priceless
"Over the last few years, our decision to expand our portfolio in resilient sub-sectors has been rewarded as these sub-sectors enjoy growth and renewed occupier and investor demand"
We have bought a right collection of dogs like Oldbury. W.Brom , Telford,Redditch .Nottingham & Wolverhampton where we have added no value .Rental & cap. values falling.
"The 12.0% valuation decline was predominantly across a small number of assets that have suffered as a result of negative retail sentiment - 6 of our assets dropped in total by £13.3 million"
It's been a nightmare COVID partnering with structural changes in retailing has meant having foolishly entered the market when the smart money was leaving we are left holding the expensive babies.
Here is hoping that 2022 will be better !
Adv, Hope you are nearing the 6% average on your portfolio. Given the trying times we are going through it must be even harder to achieve. Good luck either way. Too much negativity amongst some but I would never wish anything bad against any investor. We all make our choices and take our chances. I work on the principle if I sell a share at a reasonable profit then as long as the new buyer has a chance to make a profit then all is good. If they cannot make a profit they will not buy, then I cannot sell so best not get too greedy lol. Following your post I too have now sought out more quarterly divi's and am enjoying the task. Still well pleased with RLE so roll on the end of the month. This will surely be a main provider in my later years lol lol lol. Anyone considering this share then do you own due diligence and good luck in whatever decision you make. For me this is one to buy and hold :-)
Hi All, Just looking at this share and wish to offer up reasons to hold/buy:
Market Valuation is £60m yet portfolio is in the region of £200m
Dividend - share price is in region of 33p - Dividend is 3p
Quarterly Dividend - regular income
Growth potential - Post covid purchases/sales will recommence and rent collection return to normal
These are just my thoughts but hope you will consider them constructive. Good luck to all investors whatever stocks you hold. May your gains always exceed your losses and may you continue enjoying life in stock market dealings.
A company that cares so much about its investors that the CEO stuffs a hot potato property in where the main tenant breaks the lease at the first opportunity leaving shareholders with a substantial void
Fails to inform them when substantial leases are broken or not renewed
Unlike many larger conglomerates.
Quote - However, this has been counteracted by the Board's decision that it would not be appropriate for any bonuses to be declared for the executive directors and significantly reduced bonuses for other members of staff.
What was good news is that they confirm they have space under offer which will increase revenue by £338,000pa including some quality tenants
However in usual style what they fail to point out as it doesn't suit the narrative that in a few weeks time they are going to lose Premier Inn £310,000 pa and Npower whacking £517,650 pa alone which puts it into perspective
LIBERUM CUTS REAL ESTATE INVESTORS PRICE TARGET TO 47 (50) PENCE - 'BUY'
LIBERUM CUTS REAL ESTATE INVESTORS PRICE TARGET TO 47 (50) PENCE - 'BUY'
The dividend is well received. A genuine dividend stock for any portfolio. Good fortune to all investors.
And with the final dividend declaration of my first quarter, it's another record. Lovely big fat dividend income, can't beat it for a calm, happy life. Going out watching all the miserable people on the city streets now.
Commodore Court
You couldn't make this spin up Forgetting of course it was previously let to Sainsburys at £125,000pa ,the convenience store market which they say is so robust
"For example, Unit 1 Commodore Court, Nottingham comprises a large unit with retail planning use only. s, this can now be used as per Class E above and is under offer to a medical practice at £90,000 per annum. Our assumptions on ERV have been £77,500 per annum.
Albeit they have been marketing it at £125,000pa !!!! https://propertylink.estatesgazette.com/property-details/6548959-unit-1-commodore-court-nuthall-road-nottingham-ng8-5dq
Priceless No mention of the voids just kicking in with Npower and Premier Inn which is going to take a huge bite out of revenue
They still haven't managed to get the completion of Leicester over the line and LTVS now over 50%
Trying to pass off the plumetting value in Crewe as just sentiment Disappointing investment sales Thought they would have got Bromsgrove offices away
and unbelievable final dividend. Just hope I can get a final top up at 8am.
Going forward, I repeat, going back to normality, this will produce a massive yield for those getting in at current prices.
Well they are reaching out to agents for new product chasing yield but again industrial/warehouse property doesn't appear on the shopping list
Investors could be forgiven for thinking they wish the company had bought a crinkly tin shed in Quarry Bank rather than the depreciating Crewe Market Centre , the empty office buildings at Oldbury & the Premier Innless West Plaza
REQUIREMENT £ 50M TO SPEND
West Midlands/Midlands
Commercial
Prime and secondary locations
Single or multi-let – variation of lease terms
Value add / vacant and part vacant
Lot size £500k - £20m
Ideally with asset management potential
Yields of 7.5% plus
A few sales going through to provide some capital but there is a limit to this unless they want to take a book loss .Bound to be some decent opportunities out there to chase.The banks will also be looking over their their shoulders at LTVs on the existing lot too
So they need to start getting these voids filled up
The Burger King has been approved where 45% of the car park is lost but is more than made up with the rental
So good news but unfortuantely yet another existing unit hits the market Argos
Giveth with one hand taken with another
https://www.jacksoncriss.co.uk/property-details.php?tcode=40013134950RYLB
Its all starting to get a bit empty
Yes , the market very frothy today. Must be Chltenham fever a rising tide lifting all boats .Investors can only hope that the sentiment fills the voids
Maybe some good news arriving from Bromsgrove which unfortuantely doesn't touch the sides
Just such a shame that RLE has given industrial /warehousing property a swerve .Run of the mill singletons on short leases in their backyard going to best bids at single figure yields
Must be terrible to see all these big buys going through. Must be a lot of rich fools in the world. REI up 3%. NRR up 6%.
Peat House
So wonder where the valuers might be today on Peat House Leicester ?
Back to square 1- 2011 at £4.4m having ramped it up to £7.28m in 2017?
Bedrock FM have reduced their occupancy to just the 3rd floor by giving up the 4th floor
KPMG reduced their occupancy in the building by giving up Suite 1 on the 2nd floor last year
Furthermore the remaining space is Suite 3 on the second floor which Charles Alexander lease now wish to reduce their occupancy in the property
So difficult to see with all this loss of rental income in these various properties where this will be coming from " Massive yield coming for next financial year at these prices."
And here we go, doesn't take much to ignite the price
08-Mar-21 11:02:24 33.00 3,333 Buy* 32.40 33.00 1,100 O
08-Mar-21 10:46:49 32.904 15,165 Buy* 32.20 33.00 4,990 O
08-Mar-21 10:25:51 32.904 3,610 Buy* 32.20 33.00 1,188 O
08-Mar-21 09:20:02 32.72 50,000 Buy* 32.20 33.00 16.36k O
Trying my best !
Here is another big void occurring straying outside their geographical knowledge base chasing yield but don't let any facts deter you
This was one of their early purchases in 2011
Peat House, 1 Waterloo Way, Leicester - a prime city centre 43,437 sq. ft., five floor office building let to KPMG, at £510,225 per annum on a lease to June 2015. The property was acquired for £4.4 million from Aviva.
Revalued in 2017 at £7.28m
Chickens finally coming home to roost as over half the space is now to let
hxxps://www.innes-england.com/properties/peat-house-1-waterloo-way
Citygate House Leicester
Investors can hope that the sale of this has now been completed in December as flagged up in the RNS as the lease ends this month
I'm looking for a big top up here before the final results/dividend announcement. If you guys could talk it down to a fraction below 30p, I would be extremely grateful. Massive yield coming for next financial year at these prices.
All investors want to know is how the various properties are performing .RLE have adopted a policy of keeping any bad news firmly buried which I find disconcerting .
I guess I have been on a mission to redress the balance ! The usual suspects who post here seem to prefer not to know
We had a situation last year when the CEO was professing last year how resilient the convenience store sector was proving at the same time Sainsburys their marquee tenant had broken their lease in Nottingham.
Crewe is going from bad to worse
Clarks Shoes CVA have identified their shop in Crewe as a Category "C" shop where they are seeking to reduce to ZERO rent !
Their lease expires anyway on the 24th of this month and the current rental is £53,000pa