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Likley cbre had the pounds in place prior to signing the deal .. so ...
Nice little currency touch too for CBRE $ /£ since they signed the exclusivity agreement at the beginning of May .Deal for them looking better day by day
Surely there must be somone closer to home with the cojonesto take em on Woeful if there isn't
Very little time left for anyone else to show their hand.
Make that 9.5 HK $ to £1 sterling !!!!!
In addition with sterling at historic low both Savills and JLL promoting London residential to their clients as a cheap time to buy
HK$ 0.95 to £1 sterling !!!!
Meanwhile just as we leave the party
https://www.propertyweek.com/news/londons-build-to-rent-sector-investment-rises-85-in-2018/5103723.article#.XT_7QjxC5Mw.twitter
The longer the brexit saga drags on the poorer we get! Near parity with the dollar & euro at the moment.
I do hold a good few US stocks (about 40% of my portfolio) the value goes up due to the collapse of sterling.
Wish I'd moved more.
Up! Up! Up! UK house prices rise £11 a day … but London prices drop.
https://www.estateagenttoday.co.uk/breaking-news/2019/7/british-homes-up-11-in-value-each-day-this-year--but-not-in-london?source=newsticker
British homes have increased in value by an average of £11 per day since the beginning of the year, but with huge regional variations.
The data, from Zoopla, says that for the UK as a whole £2,046 has been added to the value of the average home in the first six months of 2019.
On a regional level, the West Midlands leads the way with homes increasing by £36.58 per day or £6,695 in total since the start of the year.
The South East is close behind with values up on average £35.32 each day or £6,463 in total; the North West is in third place, up £20.39 per day or £3,731 in total.
The worst-performing region in Britain by far was London, where the average value of all housing has fallen by £71.23 per day - down a whopping £13,035 in total.
https://www.lettingagenttoday.co.uk/breaking-news/2019/7/build-to-rent-boost-for-london-as-it-becomes-a-top-european-market?platform=hootsuite
Ironic that JLL heralding the growth Of London saying BTR has had a breakthrough year letting CBRE in through the back door on TEF
JLL and CBRE are global competitors .JLL having established a close working relationship with TEF. Orchestrated the non- recourse loan at City North, hosted Asian sales trips and even joined them as near neighbours at Unex House ( Stratford Plaza)
Yet seemingly allowed CBRE steal the prize without a fight .Where are their rainmakers ?
https://simonicity.com/2019/07/27/new-cabinet-poor-doors-no-windows/
Interersting article on affordable housing
Gearing up to pay £300m is effectively small change for most of the players especially with the cash sitting in the tin . CBRE fully wired into that using bridge funding to underpin their bid
Somebody somehwere will be contemplating a bid for such a rare opportunity
Will be very surprisied if there isn't
Surely JLL or Savills must have a client ?
It seems to me that the founding fathers wanted to go . Sales in FY 19 were below expectations and 350p looks fairly tempting in an uncertain future
Make what you will of DC 's departure
Who can blame them for cashing in their chips we can only thank them for giving us the opportunity to join the party Disappointed yes but still grateful Certainly got me out of a hole a few years back with a 4 bagger
They are handing the company over to a global leader so safe hands and jobs secured
Hay today or jam tomorrow !!
Private shareholders missing out on a few dollars more is way down the list
Ex...I have instructed my broker to vote no and like you,believe In TEF future albeit that I think that after CBRE bid that sooner or later,someone will eventually make a succe@ful bid.
Terrace I have already completed the proxy due to my nominee status “no”. You of all here have continually posted about the future and I am prepared for a short term drop as for all the reasons stated I believe in TEF for the long term
I believe you are totally wrong in stating JDS etc go along with the wishes of the founding fathers. As directors they have a fiduciary duty and as I see it if they are “just going along” they are fundamentally in breach and would open themselves up to all sorts of issues.
Ex...the founders want to retire and dispose of their interests in the business,so JDS,Katie et al are obliged to accommodate them perhaps,So if 350p is as good as it gets,they may well think,a bird in the hand etc.They will not be best pleased at the natural disappointment of some other shareholders,but they go.Our only hope would appear to be a counter offer but we should not hold our breath.Some of us believe that TEF are worth more than 350p,but is there anyone out there with 300m or more that thinks that way?You have indicated that you have a substantial holding here,are you willing to vote against the bid if there is a chance that that a no vote might lead to a substantial SP fall?
Sain
You indicated that directors read this board and if you are correct we can only hope they are beginning to realize the error of this premature evacuation and are working on a scheme to block the bid without going against their binding undertaking. They will presumably feel uncomfortable that we the shareholders have lost some confidence in them but with one or two changes and a recovery in profits we will forgive and forget in time
The socially divisive "poor doors
https://inews.co.uk/opinion/third-home-owners-uncomfortable-living-next-to-social-housing-segregation-poor-doors/
13 left at NGQ
3 at Liberty
2 at Manhattan
Should get all those polished off by the time CBRE has to put their hand in their pocket
https://www.propertyweek.com/insight/could-rent-controls-boost-btr/5103704.article#.XTqjh6mhILg.twitter
Grainger recognising the opportunity for BTR in London that Khan's initiatives represent
"A more measured response came from Grainger. Its bread-and-butter business is rental income from its 8,000-odd portfolio of regulated tenancy properties, which are just the sort of homes the small-scale buy-to-letter invests in. But the group has vaulting ambitions in BTR. As the news on Khan’s proposals broke, the company issued a stock market announcement, asserting the mayor differentiated between BTR and the wider BTL sector. The threatened move in fact “aligns to Grainger’s strategic aims and our position in the market”.
TEF LOOKING TO TURF SHAREHOLDERS OFF THE BUS A FEW STOPS TOO EARLY
Interesting to see Tavira increasing their long position by taking 800k shares from schroders, Almost doubling their position
https://www.lse.co.uk/rns/CSP/countryside-props-q3-2019-trading-statement-plxkxlnw5h1fxz5.html
We had all the tough talking with May. I really don't see any difference, just more time being wasted and more damage being done to the economy.
The Speaker & Parliament stopped the 'no deal' scenario so why will it be different this time? Parliament hasn't changed.
Perhaps we need a referendum on whether we keep Northern Ireland as part of the UK? That might make them think twice. They want to be part of the UK but when the UK votes in a referendum they ignore the people's choice.
No deal is forever and I simply don't understand why the EU & the UK don't just say in regard to the deal that was on the table, that either side can give notice of termination. That might pacify those MPs who think it's the most important matter since WW2, Just accept the deal and then start negotiating.
Really we now need a periodic referendum over EU membership with the vote being so close. The EU need some sort of template mechanism for members to come in and out of the EU quickly.
We've just wasted more time with this stupid Tory party leader election.
Hard to figure what Johnson cabinet means for sector share prices
While a hard brexit cabinet should be bad for sector sp’s so much of that bad political news was priced in.
Patel the Everest of ideology over brains. On that appointment Johnson does share something with trump and it is worrying. You can do a lot of damage to people’s lives as Home Secretary but Johnson obviously does not care. It was convenient for him. Butler in a senior post was probably unavoidable to keep erm on board but the lack of sophistication the shape of the times. Johnson personally trashed the foreign secretary post do he probably was not fishing for talent just letting political iou’s get cashed.
It is a cabinet of hard Brexiteers and toadies.
That said any orderly transfer of power impresses some foreigners who have worse transitions than we have. To get senior appointments so fast and for the civil service to stay in place at the top is internationally unusual and never fails to impress those without that tradition and procedures in place.
Perhaps look at the 350p as an option negotiated to cover the period of the conservative leadership result. Shareholders can always decline to exercise the option by voting against the deal in sufficient numbers if they think housing market prospects now look better.