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To provide shareholders with an attractive level of income together with the potential for income and capital growth by investing in a diversified portfolio of UK commercial property warehouse assets.
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RNS just out. Everything seems on track.
I can't believe there's not more interest here especially after news of further buildings. As for short leases, that can be a good thing i.e. when they expire rents are renegotiated at a higher rate. I think I am optimistic about growth and revenue here.
Top price paid for a 30 year old building with less than 3 years remaining on the lease .
Excuse dribble-fat finger I haven't ruled out buying
No .I haven't succumbed but t ruled out Don't really like how it kicked off as a route for Tilstone to exit it its portfolio.This has arrived on the scene a bit at about the top of the cycle l Nothing at all wrong with the individual properties ,a little dry and quite a few of the properties I am familiar as an ex industrial property agent Just felt 7%was a bit smokey for the portfolio Similar one would have been picked up by the movie stars Hansteen for 8.5% a few years back Hnasteen wouldhave picke dupa simialr portfolioshowing 8.5% =
Or maybe 4, not sure if Sain is a holder. I was tempted in this morning after research following the IC recommendation to buy on 17 November. This highlighted anticipated dividends of 6.2%as WHR are active in a market where "demand from retailers for logistics space is growing fast" on the back of demand for same day deliveries. Shortage of suitable space is "likely to become acute" which will drive up rents. I also like the look of Tuesday's RNS.
Scattergun portfolio of mainly dry assets Just a question of managing voids and renewing leases The initial portfoilo purchase price of a geographically diverse set of assets showing a 7% yield didn't look to be too much of a bargain especially when the target divi forecasted is 5.5% On the other hand risk is spread. Much prefer Hansteen
Welcome Shaxe. The three musketeers!
Sorry to crash the party, just wanted to say there is another holder here!! Looks like we have all followed a similar path to this one. Slow and steady please WHR! I have been slowly pulling my money out of rainbow chasing (have found a few pots of gold en route), and putting it into (hopefully) more stable and dividend shares. Can't take the stress of it all watching minute day changes and working out what actions to take. Like Rich I also have a holding in the larger operator, but can see the benefit a more local focused portfolio of warehouses. Hopefully I am proved right!
Similar I guess. My brokers SVS emailed me and it seemed a good move. I'm split between remtal properties, funds in ISAs and some AIM fantasy holdings from oil and in Alaska, gas in Morocco to a tech stock so trying to diversify. Probably want to move more into FTSE 250 for dividend income soon. This seems a steady start with potential for growth. Fingers crossed.
:) your name's not down, you're not coming in :) I have a very small holding in BBOX - the last open offer was limited to 15% of what you subscribed for, and their overall performance made me think the idea of holding Warehouse space had a decent future. Also the stability of Property/ REIT's is attractive as I try to balance my portfolio - I've had some great upside excitement and some equal yet off-setting downside excitement this year, so something unspectacular but with slow and steady growth potential appealed. I can see this being somewhere I drip feed funds on rights issues to have a decent core to my portfolio as they add acquisitions. You?
Rich, I've never had a private BB before! What made you invest here as a matter of interest?
Cheers for that - odd that it hasn't been picked up as an RNS by LSE. Pretty much ties into the prospectus that they had a pipeline of projects ready for funds to be deployed, and the yield fits the target returns, so happy days it would seem. I would guess that there is roughly enough spare capital left over for a slightly smaller add-on purchase so wouldn't be surprised by another announcement in the next few weeks.
Not sure why it's not showing as an RNS above but here it is: 25 September 2017 Warehouse REIT plc (the 'Company' or 'Warehouse REIT') Warehouse REIT Exchanges on £26m Pipeline Acquisitions Following the successful £150 million fundraise and subsequent admission to AIM on Wednesday 20 September 2017, the Board of Warehouse REIT plc (ticker: WHR), the specialist warehouse investor, is pleased to announce its first pipeline acquisitions, which follows the initial Tilstone Portfolio purchase for £108.85 million. The pipeline assets described in the Company's prospectus included four multi-let industrial estates in England which were at an advanced stage of negotiations. Contracts have now been exchanged with Hansteen Holdings plc to acquire these assets for a total consideration of £26.25 million plus costs, reflecting a net initial yield of 7.5%. Two of the estates are located in the North West, one in the Midlands and one in the South East, are all either in urban areas or on strategic infrastructure links and their purchase is in line with the REIT's investment strategy. The estates cover a total floor area of 603,000 sq ft and generate an annual net rent of £2.11 million. With an average passing rent equating to £3.50 psf, the Company believes there is potential for long term rental growth. Commenting on the transaction, Neil Kirton, Non-Executive Chairman of Warehouse REIT, said: "This transaction is firmly in line with our investment strategy set out at the time of the IPO, for good quality, well located assets with plenty of opportunities to enhance value through asset management. Whilst the vendor has run a successful letting campaign with voids down to 9% of ERV, this reflects slightly more than the national average which is characterised by a shortage of well-located warehouse stock, driven by the structural shifts taking place in last mile delivery. The Tilstone management team believe that the assets offer potential for further rental growth."
Any news in particular? Not seen anything around WHR yet. (Oh, and small holder here)
Hi, any holders out there? Looks like decent news this morning. Any views to kick off a discussion?