Any views on Unite (UTG) Vs Grainger? Both look attractive. Unite has higher yields on properties with similar levels of rent growth. Higher cost of debt for UTG currently but both should normalise over time
Not looked into Unite but I’d favour private residential over student accommodation right now given where the immigration debate is heading (meaning sustained pressures to control international student numbers), and the financial health of the university sector (not great, could potentially see some smaller institutions shut). If Unite has a top tier portfolio then that mitigates the risks - but would want to see what they actually own.
The problem as I see it not just what you say, that maybe fashions change. Brezelkönig come in from Switzerland and we all start snacking on pretzels, but also I just think Greggs are saturated. There are 9 in Swindon, 2 in Cirencester. You get them where people are doing "chores". Going to work, everyday shopping, visiting a hospital, making a delivery. No-one is going out to Bourton-on-the-Water and wanting a Greggs. They want a charming Cotswold tea rooms. It's hard to find anywhere on a map you could put one without cannibalising other Greggs.
So, I'm out. But if Huffkins ever goes public with a plan for massive expansion of tea rooms (they have 9 already), I'll be buying some.
Long ago I went to the one in Witney which I think was the first. And I've been to the one in Burford. I forget the rest.
Yeah, it's not Starbucks. And if I'm just driving through Burford for some boring reason, I'll go to the Starbucks on the edge of town. or one of the more regular cafes in Chipping Norton. But sometimes I want the experience. The cakes are also amazing.
I don't know Pret well. But are they at saturation now? Don't they have a demographic they're already serving (the sort of places that have an Everyman or Curzon cinema).
Any views on Unite (UTG) Vs Grainger? Both look attractive. Unite has higher yields on properties with similar levels of rent growth. Higher cost of debt for UTG currently but both should normalise over time
Not looked into Unite but I’d favour private residential over student accommodation right now given where the immigration debate is heading (meaning sustained pressures to control international student numbers), and the financial health of the university sector (not great, could potentially see some smaller institutions shut). If Unite has a top tier portfolio then that mitigates the risks - but would want to see what they actually own.
The problem as I see it not just what you say, that maybe fashions change. Brezelkönig come in from Switzerland and we all start snacking on pretzels, but also I just think Greggs are saturated. There are 9 in Swindon, 2 in Cirencester. You get them where people are doing "chores". Going to work, everyday shopping, visiting a hospital, making a delivery. No-one is going out to Bourton-on-the-Water and wanting a Greggs. They want a charming Cotswold tea rooms. It's hard to find anywhere on a map you could put one without cannibalising other Greggs.
So, I'm out. But if Huffkins ever goes public with a plan for massive expansion of tea rooms (they have 9 already), I'll be buying some.
NINE Huffkins?? I'm only aware of the one in Stratford Upon Avon town centre! It's nice, though a bit pricey
Long ago I went to the one in Witney which I think was the first. And I've been to the one in Burford. I forget the rest.
Yeah, it's not Starbucks. And if I'm just driving through Burford for some boring reason, I'll go to the Starbucks on the edge of town. or one of the more regular cafes in Chipping Norton. But sometimes I want the experience. The cakes are also amazing.
Yes, agreed. My only hesitation is that I thought Pret was overly saturated for years and yet they seemed to keep expanding!
I don't know Pret well. But are they at saturation now? Don't they have a demographic they're already serving (the sort of places that have an Everyman or Curzon cinema).