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People !
More Cash from Lancaster no cash available for me but anyone interested Good Luck http://www.investegate.co.uk/northacre-plc-(nta)/rns/receipt-of-10m-dividend--1.2m-consortium-relief/201211231623309328R/
Be Quick?
someone liked the news!!!
I think your NAV was taken from the latest published accounts @ 138.99p. It looks to me that at that stage the Lancasters was valued ay £40m in NTA's Balance Sheet. Last Fridays RNS ups this figure by £10m or 35p per share. So i reckon NAV is around 174p. With a potentially £32m in cash after all debts are repaid.
Glad I kept my promise!!
Had a look myself m8...looks like just profit taking....due to the rise in shareprice....buy up and sell after news......? impho
Cheers
Cheers - promised myself I wouldbt buy into something I dont know again on a rise! Hmmm...
Northacre Share price Symbol: NTA Share price: 75.50 % Change: 6.34 % Change: 4.50
Live price? Excellent RNS!
yes ..should be north of 100p not at 77.5!!!
Tara good luck not in here http://www.investegate.co.uk/Article.aspx?id=201209211619349023M
Northacre have now made £50M from The Lancasters with another £30M to come from the sale of the last 11 units,[out of 77] That RNS will see this stock Zoom next week!!
Announces that a 2nd interim dividend of £3.0m has been received from Lancaster Gate (Hyde Park) Ltd, our joint venture with Minerva. The Company will utilise the funds to reduce debt and for working capital purposes. This 2nd interim dividend represents full payout of the 2nd tier of profitshare for Northacre under the joint venture agreement. The next receipt will be within the 3rd tier. The Lancasters Development reached its full practical completion on the 25th November 2011, and there continues to be good progress in Sales.
Hey dude looks like your desperate ,who are you trying to convince !!!
This is the J/V that Northacre and Minerva used to build The Lancasters. The accounts just out can be found on the web, or companies house. They show the project making a whopping £100M profit on £250M sales. Since those accounts the site has finished and another £120M of sales have been made at higher margins as prices shot up. Northacre are due its share of the profits far, far more than its market cap today.!!
NTA: Two huge lumps of news today late PM. The first is this from tomorrows WALL ST JOURNAL[on web page now] 'With the renovations completed in fall 2011, Northacre —the high-end property developer of which Mr. Nilsson is chairman and co-founder—has now sold 63 of the development's 77 apartments, raking in sales of £370 million. On top of building costs of roughly £115 million and the £67.2 million original price tag for the property, Northacre and its financial backers seem to have comfortably made a profit. The second was the director buy. For investors who want facts: Northacre Market cap is £26M plus £10 DEBT = £37M The profits from The Lancasters look like being around £100M for Northacre of which around £60M is cash and £40M is in the last few flats they are selling at The Lancasters.
It is a frenzy out there," says Tracy Kellett, a buying agent who searches London and the south-east for properties for her well-off clients. "I said prime London would go up 5% this year, but I think it is already up that much."
Thanks for link. BW
Tara 7 I got burnt before with NTA in 2007. Shares talked up to 80 then halved in value. Think we're ready for same pattern.
True but PSN are in a rather healthier financial state than NTA. Trust me, I hope you are right. A nice special divi, 25 or 35p, would be great. They've been bitter before though through not having enough cash to fund themselves so I would expect them to be unlikely to release cash. We may get asmall divi however. Better they keep the cash in the company in order to buy in to future projects in the way that the Lancs started out. W'll see. There must be news coming very soon given rises in the last two days. I think they gave a trading statement in Fe last year but haven't done so this. I wonder whether we might see something later this week ? It would be nice, especuially if it removes some uncertainty about cash flows and timings from The Lancs.
Today told shareholders of just that, ie handing back cash to shareholders.
I haven't posted on here for ages. I have held this stock for 18 months and it's been great for me. Was lucky enough to get some profits out in the 130s and 140s early last year. On the face of it the profits from Lancasters should be very good. My only concerns are when those profits will be released (look at the appalling short term funding deal NTA had to do to meet working capital requirements) and whether the oweners of the site will put up some resistance. I hope the deal is clear cut and they are planning to pay what is due. Assuming things are as they seem, we should see a good rise and I have read elsewhere there is talk of a special divi. That seems like aremote possibility to me, whty would NTA release funds they could keep on the balance sheet for future application, but we'll see. I'm holding and hopeful we'll see an encouraging update very soon. there can only 5 or 6 aprtments at The Lancs left to sell.
Lancaster Gate the ‘best-performing street’ in the capital.Properties have rocketed to more than £3,000 per sq fthttp://www.thisismoney.co.uk/money/mortgageshome/article-2106390/Boom-rich-park-view-London-property-prices-soar.html#ixzz1nW4OTjjR