We published Q4-2022 Portfolio Performance on 31 January 2023.
We will publish our next quarterly performance report (Q1-2023 Portfolio Performance) on 28 April 2023 – this will include annual revaluations for all properties, undertaken by independent RICS-accredited chartered surveyors.
Today’s update covers important activity in March:
- Equity Fundraises & shareholder votes
- LHX All-Share Investment Plan
- 5-year anniversary properties
- Further property-by-property disclosure
- Equity Fundraises & shareholder votes
In March, 3 properties required new capital to strengthen their financial position:
For all 3 properties, shareholders voted for Equity Fundraises rather than Auction Sales.
All 3 Equity Fundraises successfully completed, raising £248,000. This marks the third successful round of Equity Fundraises, whereby 13 properties have raised £1.6m, resulting in significantly stronger balance sheets with which to pursue orderly unit disposals that maximise sales prices.
- LHX All-Share Investment Plan
March was the second month of Better’s direct investment in the Exchange. This investment is creating greater liquidity and more efficient pricing across the marketplace.
Alongside Better’s investment in March, funds invested in the LHX All-Share Investment Plan have been successfully deployed. Since inception in February, the All-Share has delivered a compelling portfolio:
- February: 39 properties, 25% discount to Vacant Possession Value (after all fees and taxes) representing a 34% unrealised capital gain
- March: 32 properties, 27% discount to Vacant Possession Value (after all fees and taxes) representing a 37% unrealised capital gain
There are 2 days left to participate in the next round. Customer funds are invested on a monthly basis and our April deployment is open for funding until 11.59pm on Friday, 31 March.
- 5-year Anniversary properties
The following 5 properties completed their 5-year anniversary process in March and have commenced the process of disposal:
- Further property-by-property disclosure
In last month’s update, we reported that all residential properties will now show Individual Unit Details in a new tab in the “Financials” section. We have now taken this a step further, and provide even more detailed unit-by-unit information for every property.
Now, for every unit currently held, you can view the purchase price, latest independent valuations, the contracted rent and the ‘status’ of each unit e.g. vacant for sale, under offer, etc.
For every sold unit you can view the purchase price, latest independent valuations, and sales price. For both, we show totals as well as any premium or discount to purchase price. Below is an example, Blackfords Court, Cannock:
If you have questions about this update, please email us at support@londonhouseexchange.com
Best wishes,
The LHX team