REI Share Price (RLE)

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

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.