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To provide ordinary shareholders with an attractive level of income together with the potential for capital and income growth from investing in a diversified UK commercial property portfolio.
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So divi bumped as expected. 0.75, assuming its carried through give 3p. Still not at pre pandemic levels but does reduce the sell signal pressure, for a bit anyway.
The NAV is bumped up to £1.02 so there is an increased discount but that might close again. SP in the red at the open but quickly moved into positive ground. Im not sure what the average trailing discount is. Something I might have to look into.
So holding for a bit longer and likely to collect a divi. I suppose there is scope for the divi to rise again next year. I hoped it would be more than this but previously stated they might be conservative whilst things play out.
In the longer term, assuming the divi gets back to historic highs, will there be a progressive dividend? They had many flat years so there are questions to be asked.
With the SP hitting 52 week highs my spreadsheet is approaching a sell signal
Hopefully the update tomorrow will bump the divi so as to take some of the pressure off the Sell signal.
I hope it meets market expectations otherwise it might take a tumble.
Over to the NAV and divi gods
MrMath
Im not sure you can reclaim for those in an ISA but being a REIT I thought it was paid gross anyway, sorry if I have this wrong. I agree about the way the income is classified but fortunately mine are inside the ISA wrapper.
Cardplayer
A 0.76 divi is a bump but still below the 0.92 pre pandemic but I suppose there might be a catch up drag and they might want to play conservative. Maybe a special allows them to cover both angles
They have paid dividends five times over the last year (most recently 0.644p on 26 Nov 21) and the total amounts to 2.923p, so by today's share price the dividend rate is about 3.5%, and the share price has been increasing over the last month too. Also, it's worth being aware that the dividend is taxed 20% at source and counts as property income and so is not lumped with your other regular dividend income. I hold my shares outside an ISA, but I suspect you could reclaim the 20% on your tax form if they are held within an ISA.
My guess is that the next quarter dividend will be 0.76p, with an indication of a prospective special. Bought a few more today (10,250 in total between accounts). As someone who sadly and strongly remembers the ravages of inflation, I find discounted property quite attractive!
Is that an echo???
Hi Card player, I suppose my next task is to guess what the dividend might be or just wait for the surprise when it's announced.
You are not alone!
I have just opened a position here but looking at the threads it looks like I will be talking to myself.
Reasons for buying, NAV discount, expected increase in divi which is paid quarterly, new properties purchased and an expected re-rating hopefully in the not to distant future.
UK Commercial Property Trust: Liberum Capital begins coverage with a target price of 68p and a hold recommendation.
Christopher Hill, Chairman of UKCPT, commented: "This transaction fits well with our strategy of acquiring good quality assets that, particularly in these uncertain economic times, both complement our existing portfolio and offer strong, defensive income characteristics. This portfolio is also attractive as it offers us the potential to grow value through the application of our disciplined and focussed approach to asset management. "The new financing facility that we agreed with Barclays last year provides us with comfortable headroom to make acquisitions when we find an attractive opportunity such as this, and we continue to look for transactions to grow and enhance our portfolio further." UKCPT was represented by GVA and JLL represented SEGRO plc in the transaction.
Acquisition of Industrial Park Portfolio from SEGRO for £60.51m UK Commercial Property Trust Limited, managed by Ignis Asset Management, announces that it has acquired a portfolio of three multi-let principally industrial park assets from SEGRO plc for a total consideration of £60.51m, reflecting a net initial yield of 7.34%. The three sites provide a combined total floor area of 549,413 sq ft and a total income of £4.67m per annum. The occupancy rate across all three estates is approximately 98%, with units let to a mix institutional grade tenants including Smiths News Trading, UPS Ltd and Volkswagen Group UK Ltd. The average weighted lease length across the portfolio is nine years and one month. The transaction will be financed primarily through the use of part of the £150m facility agreed with Barclays Bank Plc in May 2011. The acquisition provides UKCPT with greater exposure to multi-let industrial assets, consistent with one of the Company's strategic aims. The Company also believes that there is the potential for income and value growth through active asset management. The portfolio comprises: § Emerald Park East, Emersons Green, Bristol - a modern industrial estate developed between 2000 and 2004, located close to Junction 19 of the M4, to the north of Bristol.The estate currently generates income of £1.71m per annum from 235,635 sq ft across 17 units, let to tenants including Knorr Bremse Systems, Sungard Availability Services and Smiths News Trading Ltd. Average unexpired lease length is four years three months to breaks (eight years six months to expiry). § Gatwick Gate Industrial Estate, Crawley - A mid 1980`s industrial estate located on Charlwood Road, to the immediate south of Gatwick Airport. The estate generates income of £1.11m per annum from 144,944 sq ft of space across nine units, let to tenants including Signet Group Ltd and Cooper Callas Ltd. Average unexpired lease length is five years to expiry and break. § Motor Park, Eastern Road, Portsmouth -This group of car showrooms representing the principal automotive dealership location in the Portsmouth area, offers brands including Mercedes-Benz, Audi, BMW, Volkswagen, Mini, Chrysler and Jeep. The park generates income of £1.84m per annum from 162,661 sq ft of space across ten units, let to tenants including Volkswagen Group UK Ltd, Pentagon Ltd and Affinion International. Average unexpired lease length is 12 years two months to break (twelve years nine months to expiry).
http://www.investegate.co.uk/Article.aspx?id=201202200700126871X
UK Commercial Property Trust (UKCM) announced that it has applied for planning permission to develop a 150 million pound shopping centre in Shrewsbury, called New Riverside. The project would involve the redevelopment of three existing sites into a single development, covering 480,000 square feet, including a 95,000 square foot department store, offices and parking. If permission is granted the property developer expects to complete the project by 2016. The shares climbed 0.8p to 75.7p
Consistent with its acquisition policy, UK Commercial Property Trust (UKCM) has purchased The Rotunda Leisure Scheme in Kingston upon Thames from Curo Property Funds for 50.7 million pounds, reflecting an initial yield of 6.47%. Commenting on this, the group said: "The Rotunda is UKCPT`s first acquisition in the leisure sector which has proven to be resilient at both an occupational and investment level." The shares edged up 0.2p to 83.1p.
Net Asset value for 30sep07 99.9p.
The Board of UK Commercial Property Trust Limited (the "Company") refers to the prospectus (the "Prospectus") published by the Company on launch in September 2006. The Prospectus stated that, if the market price of a Share in the Company was more than five per cent. below the published net asset value of a Share for a continuous period of 90 dealing days or more, the Directors would convene an extraordinary general meeting to consider an ordinary resolution for the continuation of the Company. The Company announces that, as at close of business yesterday, the Shares had traded at more than a five per cent. discount to their net asset value for 90 continuous dealing days. In accordance with the intention stated in the Prospectus, the Directors therefore intend to convene an extraordinary general meeting to consider a resolution (the "Resolution") to approve the continuation of the Company. See RNS for further details.
Have a look at www.h-l.co.uk and open an a/c. They specialize in buying funds, rather than shares, and give good discounts. Bear in mind there are various a/c's dependent on uk residency/tax status. For the gang, sp is Well undervalued, check last interims for nav ratios. Before anybody questions the property market, its a good long term play as property should be! cheap as chips although there maybe better plays out there.
wants to subscribe to this fund brief me how to join.