Jack Sidders

speaker

477 appearances 14 recordings 3 series first heard Jan 2026 last heard 29 Jul

Jack Sidders’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 14 in all, peaking in Jul 2026 with 5.

Appearances

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Merryn Talks Money · The UK's Shrinking REITs Sector Is Still Attracting Buyers · 8 Jul 2026 podcast

how are the peers in the US trading?

Well, you can't, you know, they don't publish their NAV in the same way.

But what you can say, they focus on earnings, they focus on, you know, FFO and metrics like that, funds from operations.

What you can see is, particularly the data center landlords in the US, digital realty, Linux, people like that, are trading on really, really elevated multiples to earnings, which, you know, it's not an apples to apples thing, but I think it's fair to say, you

they would essentially be trading at a big premium to NAV, which is kind of the market awarding a lot of hope value there.

And you do see that in the UK sometimes.

When the stock market decides, right, we're at the start of a cycle, we can see that values are at a bottom and they're about to go up.

Hopefully rents are about to go up because no one's built anything.

The sector will sometimes then trade at a slight premium.

And then Seagrow itself was trading at a bit of a premium for a few years before 2022, which was to do with the fact that there was a scarcity of warehouse space.

Rents were going up very, very fast.

So the market was willing to price in a bit of that future growth.

It's a really interesting question.

There was a bit of a sense that it had maybe been slowing down slightly from a somewhat frenetic pace.

But that said, I mean, it'd be interesting to see what impact this deal, were it to happen, then has.

And actually also in terms of potentially some new companies coming to market.

Bloomberg reported the other day

that Blackstone has done some very initial investor meetings on a company called Indurant, which is one of its portfolio companies, which owns a lot of UK warehouses.

Hey, Presto, if Seagrave were to disappear as a publicly traded UK name, maybe there'd be a new one to come along in a few years' time.

We'd make an IPO.

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