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Ediston (EPIC)

pje16
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Re: Ediston (EPIC)

#439478

Postby pje16 » September 3rd, 2021, 3:26 pm

Performance over the last month
Image

Source: screen grab from Interactive Investor

flyer61
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Re: Ediston (EPIC)

#439779

Postby flyer61 » September 5th, 2021, 10:12 am

The CEO of The Gym Group on Radio 4 this week mentioned they were actively looking at retail park units for Gyms.

This in today's BBC online:

Retail parks have fared best of all. Many are anchored by supermarkets, DIY and furniture retailers which have all done well during the pandemic.

Footfall at these sites is almost back to pre-pandemic levels, showing how shoppers seem happier to drive to bigger shops than visit High Streets and shopping centres in towns.


They missed out places like 'Pets at Home' and 'Halfords' which have been going great guns.

Roll on the year end results..

Where is SKYSHIP? I think he is in his 70's and lives in France but not like him to be so quiet. Maybe he is on the beach in Nice...

Here's the full link:

https://www.bbc.co.uk/news/business-58433461


Moderator Message:
Link added for convenience, and extract tidied up into quote format. (Not a requirement; just for posters' convenience.) --MDW1954

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Re: Ediston (EPIC)

#441156

Postby Swanmore22 » September 10th, 2021, 7:26 am

Hi Sky and All,

Accountancy query..

My company owns some EPIC shares in a corporate trading/investment account at HL
I asked HL if they can set my company up to receive the PID payments from EPIC without the deduction of 20% witholding tax
So far i have heard nothing back.

Other REIT"S produce exemption forms that the shareholder or their broker can return to the registrar .
From their website, EPIC"s registrar does not offer this. I have mailed them to ask if they would consider doing so.

If between the registrar and HL, they are unable to set this facility up for gross payment then I presume i will have to ask my accountant to
claim back the witholding tax on annual tax return..which would be a bugger.

Does anyone know the correct route for an exempt entity to apply for gross payments on PID ?
I presume its my broker as he holds the shares ..

Regards,

Swan

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Re: Ediston (EPIC)

#441166

Postby pje16 » September 10th, 2021, 8:42 am

AFAIK
You will need to approach your broker
Unfortunately, it’s possible that some may charge for this, which may make the costs too much to be worthwhile.

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Re: Ediston (EPIC)

#441480

Postby SKYSHIP » September 11th, 2021, 3:24 pm

Hi Flyer - just replied to yr July message - sorry, never saw it!

Anyway, back home to SW France after a brief holiday in Provence.

Nothing to add re EPIC at the moment. Remain a full allocation holder.

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Re: Ediston (EPIC)

#442134

Postby Swanmore22 » September 14th, 2021, 12:45 pm

Re the reclaim of witholding tax, i got a prompt response from Ruth Wright at JTC, the registrars who sent me the relevant eligibility for gross PID payments form for brokers.
HL responded :"Unfortunately, this isn't something we can facilitate. All HL Fund & Share Account clients' holdings of Ediston Property are held in a pooled nominee account. Separating PID payments for clients who shouldn't be taxed would require a separate designation, which is not something we're able to do.
However, if you're exempt from withholding tax, you should be able to reclaim any tax paid through HMRC "

So we have to wait for reclaim..not the end of the world but an inconvenience

When i look at the net ,after all expenses and corp tax ,returns our conservatively valued estate is yielding 4.8%.
I still view directly managed property as lower risk than equities over the long term but the arguments for placing more of the available cash into equity holdings is getting more compelling.

Swan

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Re: Ediston (EPIC)

#442230

Postby flyer61 » September 14th, 2021, 4:24 pm

Interestingly Swanmore22 I am considering doing the same with our Limited Company. I am assuming the 20% can be reclaimed back when the annual accounts are submitted. Any further thoughts on this?

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Re: Ediston (EPIC)

#442231

Postby flyer61 » September 14th, 2021, 4:24 pm

Interestingly Swanmore22 I am considering doing the same with our Limited Company. I am assuming the 20% can be reclaimed back when the annual accounts are submitted. Any further thoughts on this?

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Re: Ediston (EPIC)

#444904

Postby Swanmore22 » September 24th, 2021, 7:38 am

flyer61,

Reclaim of witholding tax via your co.tax return .

My understanding is that a uk company receiving dividends from another uk company, including PID"s from a REIT will be able to reclaim any witholding tax via annual return
I have done so before..not for EPIC yet as the distributions will be in 21-22 return.
Your accountant can confirm. There is a section on return where individual entries can be made to reclaim the 20% .

Worth checking with your broker first to see if they can apply for the dividends to be paid gross.

Swan

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Re: Ediston (EPIC)

#445003

Postby flyer61 » September 24th, 2021, 12:00 pm

Thanks Swanmore. HL have said they won't as they all holdings are held in a nominee account and they won't break out individuals or Companies.

Will read up this afternoon. Sadly my accountant is not well and I won't query with him at the moment.

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Re: Ediston (EPIC)

#455669

Postby brightncheerful » November 4th, 2021, 5:10 pm

On the strength of the op I bought and sold a few weeks later for a profit.

For commercial property holdings i prefer LGEN.

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Re: Ediston (EPIC)

#460868

Postby pje16 » November 25th, 2021, 2:51 pm

News release

Ediston Property Investment Co PLC - London-based investor in office, retail and industrial commercial property - on Thursday says it sold its office building Midland Bridge House in Bath for GBP5.9 million. Net initial yield is 5.7%, in line with the September 30 valuation. Sale is part of Ediston Property's new strategy to sell its office portfolio and reinvest the proceeds in retail warehouses.

"This is the first office sale since we announced our new strategy in the third quarter. Progress is being made with our other office sales and we are actively looking at reinvestment opportunities. We want to acquire retail warehouse assets which are more suited to our intensive style of asset management," Ediston Property Investment's investment manager Calum Bruce commented.

Current stock price: 78.76 pence, up 0.5% on Thursday

Year-to-date change: up 13%

Source: Interactive Investor
https://www.ii.co.uk/secure/my-news-fee ... 1784239700

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Re: Ediston (EPIC)

#460871

Postby BullDog » November 25th, 2021, 3:01 pm

Thanks. Kind of interesting that Ediston and one or two other REITs are actively selling office portfolios whilst Regional REIT is doubling down on the sector and selling off the properties the other REITs seem to be buying in favour of more office buildings. They can't all be right? Have Ediston got it right and Regional haven't?

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Re: Ediston (EPIC)

#460876

Postby pje16 » November 25th, 2021, 3:23 pm

Post Covid, office space will be less in demand in my view
I work in the City of London (now 2 days a week) and our 300 capacity office is only around 20-30% full most days
and once the supply chain frees up, more storage will be required

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Re: Ediston (EPIC)

#460882

Postby SKYSHIP » November 25th, 2021, 3:46 pm

There is an interesting anomaly building up in the office space; and as all know - I like anomalies - anomalies offer opportunities.

So the two listed propcos with the highest commitment to offices are: CLI & RGL.

# CLI - 92% allocation. NAV discount = 38%; but yield just 3.6%

# RGL - 84%, but climbing. NAV discount = 8%; but yield 7.2%

Will elaborate further in a separate post under CLI; but let's just say, they are looking very good value at under 210p.

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Re: Ediston (EPIC)

#460902

Postby richfool » November 25th, 2021, 4:35 pm

SKYSHIP wrote:There is an interesting anomaly building up in the office space; and as all know - I like anomalies - anomalies offer opportunities.

So the two listed propcos with the highest commitment to offices are: CLI & RGL.

# CLI - 92% allocation. NAV discount = 38%; but yield just 3.6%

# RGL - 84%, but climbing. NAV discount = 8%; but yield 7.2%

Will elaborate further in a separate post under CLI; but let's just say, they are looking very good value at under 210p.

Yes, I'm not sure about the offices v retail warehousing debate.

After building a position in EPIC, and topping up SLI, I sold RGL due to its high exposure to offices (and my high exposure to commercial property).

I (now) hold: SLI, EPIC, WHR, SUPR and PHP.

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Re: Ediston (EPIC)

#461346

Postby SKYSHIP » November 27th, 2021, 7:24 am

Perhaps misunderstood - I was not debating R'whse v. Office; I believe the former wins hands down at the moment, hence like you I hold EPIC, in fact EPIC my largest holding.

No, all I was inferring is that there may be an opportunity, wider Markets permitting (!), for CLI to turn around from recent substantial underperformance.

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Re: Ediston (EPIC)

#468230

Postby richfool » December 23rd, 2021, 1:31 pm

EPIC doing well today, after being tipped by Questor this morning. SP currently 83.67p:
You can understand why a property fund may want to get out of offices – currently largely empty across the country – but choosing to invest in the retail sector instead may raise some eyebrows.

This is what the Ediston Property Investment Company has been doing and, to judge by its recent decision to raise its dividend, it is making a decent fist of the transition.

“The investment manager has always made a strong case for the retail warehouse sector,” the chairman added. “It has proved to have been the most resilient retail sub-sector during the pandemic, with favourable rent collection figures and an active tenant market. Following the sell-down across all retail markets, the investment manager considers the retail warehouse sub-sector to have been oversold.

“Yields look attractive when compared to other property sub-sectors, often with income secured on high-quality tenants. The anticipated recovery in consumer spending is likely to favour many of the retailers that trade from retail warehouses. The format also works well alongside online retailing, supporting retailers’ “omnichannel” strategies.”

https://www.telegraph.co.uk/investing/s ... th-owning/

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Re: Ediston (EPIC)

#468244

Postby pje16 » December 23rd, 2021, 2:00 pm

Thanks for this, I don't subscribe but I read in it the paper this morning
yes how quaint a broadsheet in my mitts....
just get it at this time of year when I am off work and have time to read it, Iike the end of year round ups,various quizzes and sports reviews

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Re: Ediston (EPIC)

#468246

Postby BullDog » December 23rd, 2021, 2:05 pm

Indeed, tipped by Questor and today as if by magic, nearly 6% share price appreciation.


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