As a long-term investor, I like the thought of shopping for shares in nice firms at enticing costs, then holding them for years and even many years. Whereas many UK shares look low-cost to me, not all do. So it isn’t at all times attainable to purchase the shares I would like at a price I like.

Nonetheless, listed here are three UK shares on my watchlist I’ll fortunately tuck into my portfolio with an eye fixed to holding for the long term, as soon as I should buy them at what I believe is a lovely price.

Video games Workshop

Video games Workshop (LSE: GAW) has already been a powerful performer over the long run. Its share price has grown 98% over the previous 5 years.

That doesn’t imply it can preserve doing so, after all. However I see lots of issues to love concerning the agency and its enterprise mannequin.

It has constructed a loyal buyer following. That implies that not solely can it become profitable by promoting them gaming equipment, at a excessive revenue margin, however it might probably additionally reap rewards in different methods. For instance, by licensing its distinctive mental property, Video games Workshop has discovered a robust solution to become profitable from the fantasy universe it has created.

In a good financial system, pricy fantasy fashions could appear to be much less of an necessary buy, which is a threat for the corporate.

Spirax

I’ve the identical feeling about engineering firm Spirax (LSE: SPX): love the enterprise, however not its present share price.

Nonetheless, after a 31% fall up to now yr alone, the Spirax share price is getting nearer to a stage at which I’d be completely satisfied to speculate.

In contrast to some blue-chip UK shares, this firm will not be a family identify on account of its business-to-business focus. By creating a large product providing in areas that may be very important for the sleek working of an industrial firm’s operations, Spirax has given itself pricing energy. Constructing shut relationships and creating bespoke options to particular wants has helped to deepen such relationships.

Weaker demand in massive tasks, notably in China and Korea, pose an ongoing threat to earnings. However I see Spirax as a top quality agency and its 55-year observe report of annual dividend per share development reveal the facility of its enterprise mannequin.

Rolls-Royce

Few UK shares have carried out as effectively lately as aeronautical engineer Rolls-Royce (LSE: RR). The share price has soared 848% up to now 5 years.

The attraction of the enterprise is evident. It has a big put in base of plane engines that must be serviced. It’s one in all a small variety of engine makers competing for brand spanking new orders within the civil aviation sector.

On prime of that, its two different enterprise areas of defence and energy programs are each benefitting from greater demand tendencies that look set to final for years.

One factor I don’t like about civil aviation as an investor, although, is that demand can out of the blue drop unexpectedly. We noticed it within the pandemic and earlier than that the monetary disaster and following the 2001 US terrorist assaults. I believe the Rolls-Royce share price is simply too excessive for now to supply me the margin of security I search.