Member Info for 67Sam

To put Lloy 50k target in perspective, Grainger operates about 9,000 properties and has the same amount in the pipeline. They claim a 97% rental income.
Bristol City Council owns and operates about 28,000 rental homes in the City. The UK's biggest housing association is Clarion, managing 125,000 rental homes.

Theosus,
Yes I agree its a risk. Graingers market cap is about the same cost as our buyback. Lloyds are complete newbies in the rental market and are about as competent to do this as Grainger is to sell mortgages and loans.

Hardup
The claim is to have 400 properties by the end of 2021, 800 by the end of 2022, 10,000 properties by end of 2025 and 50,000 by the end of 2030. Their ambition outweighs their experience. I think if they ever get near the 10k mark they will be doing an awful lot more recruitment. Hard to believe they will have an average acquisition of new properties of 6,000 units per year for eight years to become 50k at 2030.

Theosus
That Grainger site is a really good location; surrounded by regeneration investment and an easy walk to Temple Meads Station or the Centre.
Ladden Gardens is on old farmland next to the sixties new town of Yate. Promised as "comparatively affordable", I suppose that really means "cheaper than central Bath or Bristol", ie thats not very hard and not necessarily very cheap.
Cant see Citra ever seriously challenging Grainger to be honest. They still have to show they know how to operate rentals, not just get headlines for writing cheques.

https://propertyindustryeye.com/lloyds-bank-expands-property-portfolio-with-purchase-of-110-properties-in-kent/
So they have bought 50 flats in Peterborough, 110 flats in Ashford and 150 midway between Bath and Bristol so far. I don't think any of these are finished or providing any rental income yet. The website basically says come back later. I may be biased as local but the Ladden Garden Village is a very different prospect than new build commuter flats. And Yate is not what you'd call a go to destination. Perhaps it will start being pronounced as "Yah Tay" after this.

"drinking spirits is better for keeping my stomach slimmer than drinking beer"
I suspect this is true but I am long past caring.
"absinthe, 83.3% alcohol."
Sipped slowly with sugar it is very nice. But drinking too much too soon is asking for trouble, as I learned in Barcelona in my thirties.

Pippa
"Perhaps illegal moonshine whiskey would be seen as the "most authentic of them all"
Perhaps unregulated home distilleries would produce moonshine with alcohol by volume at near fatal levels. No need to expand.

"no I only have a few thousand avg 31p"
An interest but not a position of real concern then?

is it a significant holding for you as a % of you overall investments?

675 shares is worth about £300

ladder
"hmmmm"
Do you have any shares in Lloyds?

"please shut the f*ck up and do not involve yourself in things"
aren't you a bundle of joy

59,912,509 good stuff

Guitar

https://www.youtube.com/watch?v=md_WfmSYAuQ

Just for you HornyBoy

Guitar
"I don't fancy paying for the NHS to repair you!"
As well as unpleasant its complete nonsense.

Guitar
"this is a Proxy war of sorts."
"....of sorts", hahahaha ....
Thats one hell of a climbdown when you're patronising enough to be sending someone to bed.
It could be argued that Ukraines defence of its nation gives NATO the opportunity to support a non member state because of its common interest in stopping Russian expansion.
No country in Ukraine's situation would refuse offers of help.
But that doesn't mean they are fighting the war on their behalf.

If the current average price price paid in the buyback was maintained to the end the total shares cancelled would be around 4.425B. That is none too shabby.

Brix
"Work.
Why"
55 and mortgaged.
But I will have my time in Spoons, one day.

Sorry misspelled, Theosus.

At work I use an application called Theseus. I seem to be mixing you together.

Theoseus
I disagree as I do not think Ukraine are fighting at anyone else's instigation or on anyone else's behalf, I think they are doing it because they were invaded. I agree there are larger powers that benefit from a particular outcome and will seek to influence the war towards that end.