We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I think you will find all the housebuilders fell last year and now are being re rated fast .!! See PSN today.!!
These shares spent last year sliding now this dude is talking them up .....strong buy only if you want to fill this dudes bank balance.
This from the Times newspaper: 2007 Minerva�s development of the old Thistle Hotel on Lancaster Gate � dubbed the Lancasters � could land the company and its partner Northacre hundreds of millions of pounds in profits Roll on 5 years since that was printed and we now know that prices for super prime have shot up, build cost were flat. borrowings were fixed at a low rate [since paid off] and site is finished with over 85% sold] Profit share is in the open with NTA getting 40% odd. NTA market cap is just £21M.!! DAFT.
Won last night for next site
Will be known on the 24th for Northacres next site, looking good council houses to be moved to another site down the road.
A new year and it's never too soon to start ramping!! a bit short of cash Tara7?
Last Fri,says it all profit being delivered and costs within budget
Might like to read my post on ADVFN on my NTA BB thread [post no 14913]
The Company is pleased to announce that an interim dividend of £1,150,000 has been received from the Lancasters Development. This interim receipt is within the first tier of profit share (5 per cent). The Lancasters Development reached its full practical completion on the 25th November 2011, and there continues to be good progress in sales. Northacre's share of profit increases, as a proportion of the total dividend, as the level of distribution grows, up to a maximum of 50 per cent of the top tier.
know where we're up to with Lancaster Gate?
Not sure-sold all mine at 1.35 and bought MNR at 89-i hear they are short of product in a tight london market-IMO they might rise on a MNR formal offer but not sure long term
Some of the early Lancaster sales must have compleated by now . Has that learned lady who used to give us her views on NTA any idea why now that Northacre must have received sum cash there has been no movement . Have they any new jobs in the pipeline . Do you think the static NTA price is because Candy and Candy are not doing well or is it Middle East problems Any ideas
Buried in the detail of the MNR statement is some very good news for NTA holders re The Lancasters. You need to dig deep but if you do so you can see just how substantial the NTA share of profits from Lancs will be. Take a look at the EPRA NAV calculation and the movement over the last 12 months in MNRs share of the surplus on trading properties. On the back of my my fag packet I reckon today''s MNR news adds about 35p to NTA's NAV, and a lot more still to come. Any retrace and I'll be topping up although I don't expect us to see full value until late summer. All IMHO and DYOR
The trading update issued today confirms a strong performance in all divisions. Share price up 10p today with more to come i think.
. This positive news does reflect what’s happening in London, where strong house prices have been underpinned by increasing levels of activity in January – the real barometer of the market’s health. Our offices have seen a very busy start to 2011, buoyed by strong demand from UK and international investors - and those top-tier buyers hoping to buy before the stamp duty hike in April. With the ongoing strength of demand for prime property, we expect prices and activity in the capital to continue its trend of improvement over the course of the year http://propertytalklive.co.uk/house-prices/5353-halifax-house-prices-continue-downward-trend
From FT.com Friday 14 Jan In the most recent sale, a flat was sold this week for £14.8m to a UK buyer at the Lancasters on the other side of Hyde Park, which is owned by Northacre and Minerva, taking the scheme to more than 60 per cent sold. http://www.ft.com/cms/s/0/42712c12-2011-11e0-a6fb-00144feab49a.html#axzz1B3gVH9Ne
Overall London property values are expected to remain flat in 2011, but agents expect “millionaire homes” to continue to rise. Dominic Agace, chief executive of London-based estate agent Winkworth, said: “Next year we're expecting prices in prime central London markets to rise 5%. Much of the money is coming from overseas. This year, 70% of our central London applicants were international buyers. The currency is still discounted and finance is affordable for those with equity.” http://www.thisislondon.co.uk/standard-business/article-23909921-foreign-cash-lifts-number-of-pound-1m-homes-in-london.do
Agree. they have based NAV on secured sales and it left me wondering what assumptions they have made in terms of the profit share. I'm still hoping for £60M+ from the Lancs but we'll have to wait until towards the end fo next year to see that fully reflected int he SP here I imagine. Did you see the note in the update that they would secure funds from equity ? My only concern is a rights issue or a placing. They are still losing money and have no real cashflow to speak of.
These Interim results to 31/08/10 really start to show the potential of this share. Net Asset Value has increased to 101.54p. Up from 37p at 28/02/10 year end. This increase is based on "secured sales" @ 31/08/2010. What is not clear is how secured sales relates to the 55% presales mentioned in the Chairmans statement. presumably £20.461m available for sale financial assets listed in the Balance Sheet represents significantly less than 55%. If this is the case this share has huge upside potential.
See RNS earlier today. the 'business as usual' numbers don't look good and this share is held up by the prospect of Lancs. Nothing in the statement today really changes aniything although I do worry they may need to raise funds. That seems to be the risk here.
has Tara gone? 1 post in 30 days. I thought this was her baby? This price is looking attractive, why the drop?
Entitled 'Luck'. The third paragraph rings true! Please visit the 'Blogs' section.
Tara, just doing some numbers and at around £3,000psf this would appear to provide profits of around £120m from Lancasters alone for NTA, assuming that prime central London prices do not fall and they are not forecast to this looks a no brainer, as all development and land costs are covered by pre-sales to date (£215m I believe - I upped them to £250m just in case in my calculations), so the only remaining question is whether NTA get 5% of the profits and then the profit share agreement kicks in on MNRs 95% profit or it is just across the lot. I have done the numbers both ways and have come to the conclusion that either way this looks like an exceptional return. I am heavily invested and biased, but my conclusion based on my research is that this has to be one of the most successful developments ever in Central London in terms of pure profit by a development manager.
94k bought at 146p .
75k bought at 146 yesterday morning . Nice to see.