Investors' Chronicle Exciting British stocks & the Budget: Lee and the IC
Nov 11, 2025
Lord John Lee of Trafford, an experienced investor and UK equities commentator, shares insights on his portfolio and the upcoming Autumn Budget. He discusses the ups and downs of stocks like Treatt and STV, and praises Goodwin as an exciting engineering player. John elaborates on the cautious appeal of small-cap Venture Life and reliable income from James Halstead. He also touches on Primary Health Properties' attractive yield and MS International's defense sector potential. Lastly, he offers a forecast on budget-related tax measures.
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Flooring Firm As Defensive Income Play
- James Halstead is a conservative, cash-rich commercial flooring group yielding ~6% after profit plateau depressed the rating.
- John views it as a dependable ISA holding with upside from infrastructure spending.
Healthcare Property As Income Anchor
- Primary Health Properties remains a low-risk income stock yielding ~8% with rents effectively government-backed.
- Short-term uncertainty stems from takeover activity and possible tax moves ahead of the budget.
Workspace: NAV Discount With Activist Interest
- Workspace trades at a sizable discount to NAV (~£4 vs £8) and yields ~7%, with a major shareholder holding ~28–29%.
- John sees corporate-action potential plus opportunity from a new CEO's strategy.