So an 80% discount to NAV and 10% yield, still doesn't sound attractive, looks firmly into deep value if they can steady the ship and of course get the offer away.
Part of the deal appears to allow a Bridgemere Director to join the Board I believe and the existing Chair, Kevin McGrath is retiring.
If that 10% is correct that just over 4 years to return the offer cash.
So participaing IPO investors have had over 50% of their cash back as dividends, and will get the their offer monies back in 4 years.
It may be a slightly unfashionable approach, but with a 30 years asset, I am less inclined to be worried over the 5 years performance and more interested in how quicky my capital is returned and how many years of "house' income I get.
I'm obviously less concerned about the sudden demise of total office use, The Guardian has recently been reporting on the sudden increase of post covid feeings of being "alone" and anecdotally I watched a documentary recently on the history of the "office", the program started with the Romans 2000 years ago. There's something very human about wanting to be with colleagues.
I'm not sure I can provide any comment on investors holiday, expect that some of the trends that have changed the use of office, might also assist investors even if they are on holiday.
I'm told my life is a permanent holiday, I retired at 42, and I'm never far away from a laptop.
![Very Happy :D](./images/smilies/icon_e_biggrin.gif)