British Land

Property Companies and TR Property AGM

Yesterday I attended the Annual General Meeting of TR Property Investment Trust (TRY). I have held shares in this company for a long time, and it’s always useful to attend their AGM as you get a useful update on trends in the property market from the fund manager (Marcus Phayre-Mudge of late). As he mentioned, the fact that they hold property directly, as well as holding shares in property companies gives them a unique insight into the state of the market. Apart ...

British Land (BLND) AGM Report

It was a hot day in London yesterday for the British Land AGM, but shareholders stayed cool in the meeting despite the share price being way down from last year. This is a only a very brief summary of the full report I have written for ShareSoc members and just covers the interesting aspects so far as investing in commercial property is concerned. First a bit of background. British Land is a FTSE-100 company REIT with assets of £9,619 million. It's a ...

What’s Spooking the Commercial Property Market?

There was an interesting article in the Financial Times yesterday (12/2/2016) by Vanessa Houlder on the possibility that deduction of interest costs against profits will be disallowed by the Chancellor in his next budget. Is this is what has recently spooked the commercial property market? The British Land share price is down 25% since last November, Land Securities is down a similar percentage, and even well diversified property investment trusts such as TR Property are down 16%. Surely property companies should ...