The Rodcast - Property, Business, Investment
Supermarket Investment - Ben Green
I had a fantastic discussion with Ben Green, Principal of Atrato Capital the Investment Advisor to The Supermarket REIT (SUPR)SUPR is a FTSE 250 real estate trust and the UK’s only specialist grocery property investor. Atrato have advised SUPR since it’s IPO in 2017. Atrato sources, advises and asset manages all of Supermarket Income REIT's investments. Ben has over 20 years’ experience structuring and executing real estate transactions. He has completed more than £3.5 billion of sale and leaseback transactions with occupiers including Barclays, the BBC and Tesco. Ben qualified as a lawyer in 1997 and began his career at Wilde Sapte and Linklaters LLP. He left law in 2000 and has since spent his banking career at Barclays, Lloyds and Goldman Sachs where he was Managing Director, European Head of Structured Finance. In this episode we discuss;Why there is a belief that Supermarket assets are a resilient and counter cyclical asset class? How did the supermarket sector perform in previous recessions such as the GFC and what if anything may be different this time around? Why investors would invest in Supermarket assets when they yield similar to UK Gilts? SUPR recently fixed all its variable debt with an average period of 4 years and interest rate of under 3%. Fantastic! What would be some of the changes in the market you would want to see before SUPR moved some of that debt to variable rate or considered drawing down new debt without hedging? Around 81% of SUPR’s stores have index-linked rents. Is it concern you that many are capped at 4% increases despite inflation numbers going above that? Omnichannel Supermarkets seemed to thrive during the pandemic due to their ability to be adaptable. Is it expected that those gains made will return to pre pandemic levels? Around 12% of grocery shopping is done online vs in person. Which is more profitable for SUPR’s tenants and is that 12% expected to increase or decrease in the short and medium term based on cost of living issues? SUPR and British Airways Pension Fund hold a 50:50 stake in a JV which holds a 51% interest in the Sainsbury’s Reversion Portfolio. That portfolio is one of the largest in the UK with 26 stores. What advice would you give to businesses looking to position themselves as an attractive partner in a Joint venture? What Ben thinks about grocery led shopping centres or retail parks for the future vs stand alone stores? What are the positives and negatives? What are the biggest risks to this asset class currently and what are the key mitigants? What are some of the most obvious similarities and differences around the world in Supermarket assets?And lots more...Find out more information about The Supermarket REIT (SUPR) here https://www.supermarketincomereit.com/You can also find out more about Atrato Group here https://www.atratogroup.com/Thank you to our sponsors of the episode www.signaturepropertyfinance.co.uk If you require bridging or development finance please contact firstname.lastname@example.org and quote the Rodcast to get your legals paid for.
Identifying Investment Sectors - Mike Kovacs
Mike Kovacs is a founding partner of uk based real estate investment firm, Castleforge. https://castleforge.com/Under his leadership they have invested £1 Billion of asset value into the UK and Europe combining research-led investment themes with vertical integration and in-house operating platforms.Mike has a great way of explaining how he identifies sectors in the real estate market to invest in.In this episode we discuss;How did someone from the states working in M&A at Blackstone become an investment manager specialising in UK and European Real estate?What's more important, investing with good management or investing into a good sector?How he decides on what sector to invest in for example flexi office space?How he sees different types of office investments performing over the next few years?What metrics or data would he would need to see to change his mind?How does the UK market differ to other markets?When investing into real estate how long is he forecasting to be in the investment until it matures.What has been the hardest thing about raising capital for investment and what advice would he give to people trying to raise capital?What advice would he give to a young person looking to get into the property investment industry?What is he bullish and bearish on?What is the biggest risk to his portfolio and what is he doing to mitigate it?What has been the biggest challenge in scaling his business?
Paul Davis - Background of Nimbus Maps Co-Founder
Paul Davis is probably best known for being a Co founder of Nimbus Maps, a tool for Property Developers and Investors to find the best off-market opportunities, assess them quickly and connect with owners. But did you know that Paul has a fantastic career in real estate prior to this including;a family investment business, starting and scaling a property consultancy advising Blue chip clients on Real Estate deals.In this episode we discuss;How Paul fell into the Family Property Investment Business.How that family investment business operated at the time and the type of assets they invested in and why.How Property Investment businesses differed then to now.The power of creating Capital uplift through asset management.How he and his brother started a consultancy business helping Blue Chip clients on their real estate deals.Some examples of how they saved these huge organisations £millions.How working with larger institutional clients differed from investing in lower value property assets.What advice he would give when working with family.How the recession we are currently facing compares to the last one for Paul.Did his and his brothers Oxbridge degrees in Engineering get put to good use?What made him pivot from consulting blue chip clients to starting Nimbus Maps.The toughest parts of scaling their business.And much more.You can find out more about Nimbus Maps here https://www.nimbusmaps.co.uk
Q3 Investment Mastermind - recorded 20/09/2022
*THIS IS NOT INVESTMENT ADVICE*I was joined by Adam Lawrence and Manish Kataria for our Investment Mastermind for Q3 of 2022.In these episodes we discuss the markets and then discuss what investments each of us are making in the Financial Markets. As ever we discussed the current markets and how the economy, Inflation and Interest rates are and maybe will, affect them.Topics include;Terminal Interest rates.How Bond yields correspond to Price to Earnings of some of the bigger markets.Core Inflation vs Inflation including Energy and Food.Sterling vs other currenciesOil PricesCentral Bank views of short term pain as a price to pay for longer term stability.Wage Price spirals in other periods of Inflation vs now.Energy CapsTax CutsBond Yields and their effect on EquitiesValue vs GrowthPortfolio selectionThis quarter our picks are as follows and you can listen to the reasons why;Manish - Microsoft (Ticker MSFT) - from 26.00 minutesAdam - Short on UK 5 year Gilt via shorting a bond ETF - from 37.11Rod - Antofogasta (Ticker ANTO) - from 46.29As ever we really appreciate any reviews on Spotify and Apple iTunes and we love to hear your feedback
Property V.S. Pensions with Wealth Manager Charlotte Ransom
Charlotte has a stellar track record in Banking having been a Partner at Goldman Sachs and then as a Wealth Manager having won various awards and being Co Founder of Netwealth https://www.netwealth.comThis Episode is Jam packed with info.We discuss;Charlottes background and why she co founded Netwealth.Individuals relationships with managing money.Property vs other investment options.Benchmarking your portfolio.Investment exposure and concentration.The need for capability when focusing on direct investment in a specific asset class.Volatility in the market.The importance of liquidity.Property vs Pensions invested in financial markets for funding retirement. Wealth management Fees and what investors should understand about them. The impact of reducing wealth management fees on your retirement.In recent times its the markets that have performed and not necessarily the wealth managers.Understanding the type of wealth advice you may need.Importance of having no emotional attachment when investing.How should people go about finding a wealth manager and questions to ask?Common mistakes in family finances and Estate Planning.If you would like to know more about Netwealth and the services they provide please visit https://www.netwealth.com
Developer Turned Lender - Tony Gilbertson
Tony Gilbertson has over 30 years experience in the property finance market as well as being a property developer during the difficult time of the great financial crisis. He certainly learnt the hard way what being a Developer is all about and used his experience to ensure that his lending business puts relationships at the core of their business model. It is a fascinating story and one I know you will enjoy listening to.In the episode we discuss;Tony's Background in Finance and how he became a property Developer.What happened to him in 2008What he learnt from the Great Financial CrisisWhat made him decide to start a lending businessWhat has been the hardest part of scaling a lending businessWhat he sees as the biggest risks to his business and what he is doing to mitigate them.And lots more.You can find out more info on Signature by visiting www.signaturepropertyfinance.co.ukThey also have an offer of free legals if you take any development or bridging loan and mention The Rodcast. Email Tony@signaturepropertyfinance.co.ukFor information about the 7 day Property business retreat in October in Lancaster please email me email@example.com
Zoopla's Head of Research - Grainne Gilmore
I was so fortunate to be joined by Zoopla's Head of Research, Grainne Gilmore to discuss the UK residential market.In this episode we discuss;Grainne's background and how she came to be Head of Research at Zoopla?How does data from the portals typically differ from the likes of Land registry and Office for National Statistics (ONS) data?Benchmarking performance year on year can not give the clearest picture as the start point may have been in the pandemic but how is the market comparing to the longer term trends?How have cities performed and what does the data show for their future vs suburban areas?What data points are important when looking at forecasting House and rental prices?The biggest risks to the housing market and what can be done to mitigate them?
Single Family Homes - Samantha Kempe
Samantha Kempe is a Co Founder and Chief Investment Officer of Immo, Europe’s first technology-led residential real estate platform, designed to create quality portfolios of existing single-family rental (SFR) housing at speed and scale. https://immo.capitalAfter a career in the corporate world of real estate at companies such as Cushman & Wakefield, PWC and Blackstone she met her other co founders and investors whilst doing he MBA at The London School of business and Immo was born.In this episode we discuss;Samatha's background in the corporate world and what helped to give her and her co founders the idea to start Immo.What problems Immo solves and is it seen as an Asset manager or a tech company?Why does Immo focus on Single Family Homes?What has institutional money targeted in the past when looking at residential property.How does the UK market compare to other residential markets?How has Immo used tech to enable it to build portfolios of single family homes at scale?And lots more.For more information about Immo, how to invest with them or for any other information on what they do you can contact Samantha on email Samantha.firstname.lastname@example.org
Investment Mastermind Q2 2022
**This is not Investment Advice**I was joined by Manish Kataria and Adam Lawrence on 21st June 2022 to discuss what is happening in investment markets.Both guests have a wealth of knowledge about the economy, the markets and investment in various financial assets.We decided to have a Quarterly Mastermind where we each pick an investment that is open to most people out there. Whether these are ETFs, Index funds, individual stocks or other financial instruments is up to the individual.We give reasons for our investment choices and then the other members give feedback and concerns on each pick.We are invested into these investment choices mentioned. Whether the choices will prove to be good in the long term, only time will tell.Manish's pick - A US financials ETF (XLF) through an option to earn some premium https://www.google.com/finance/quote/XLF:NYSEARCA?sa=X&ved=2ahUKEwiH_46gmsT4AhXFiVwKHX7tC9UQ3ecFegQIHRAYAdam's pick - Energy Sector specifically Oil and Gas through an ETF (IEO) https://www.google.com/finance/quote/IEO:BATS?sa=X&ved=2ahUKEwjGxLa2msT4AhU-Q0EAHYGxAyoQ3ecFegQICBAYRod's pick - An individual contrarian stock pick, Meta https://www.google.com/finance/quote/META:NASDAQ