First Property Share Price (FPO)

No News??

I've held these 1 year now and they have very stable in choppy waters! I doubled my holding today with positive results out (I hope) next month we should see a sustained rise. 20p target this time next year?

LONDON (Dow Jones)--U.K. property fund manager First Property Group PLC (FPO.LN) Monday said it has agreed to set up a seven-year fund to invest GBP106 million in U.K. commercial real estate, as it looks to buy property at reduced prices. Chief Executive Ben Habib said it would invest the fund in the coming months and has identified initial acquisitions. Habib told Dow Jones Newswires last November he hoped to have the new U.K. commercial property fund in place before Christmas when, at the time, the fund had commitments for more than GBP50 million of equity from pension schemes. The fund is named the U.K. Pension Property Portfolio and its external investors are U.K.-based pension clients of investment consultancy Stamford Associates, First Property said. First Property will also invest GBP1 million in the fund and will earn annual fees from the fund based on the value of the properties under management. The U.K. Pension Property Portfolio will look to buy properties between GBP3 million and GBP15 million and will focus on well-let but slightly higher yielding mainstream commercial properties. Company Web site: www.fprop.com -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com (END) Dow Jones Newswires February 08, 2010 02:33 ET (07:33 GMT)

http://www.bridgingandcommercial.co.uk/newsstory?id=602&type=newsfeature&title=uk_set_to_beat_the_us_in_commercial_property_recovery UK set to beat the US in commercial property recovery Tuesday 14th Jul 2009 Whilst across the pond the distressed commercial property market continues to cast a troubling shadow over the US economy, our own commercial property worries seem to be abating. In fact, analysts have now stated that UK is in the best position for recovery, compared to most of Europe and the States. Recent figures from the Investment Property Databank have shown that although commercial property values have plummeted by 44% since the peak of the market in June 2007, prices decreased by just 1.6% in May 2009, making the smallest drop in the last year. John Richards, the chief executive of major property company Hammerson, has also confirmed that the decline of rental rates is easing and that values will soon stabilise. However, the situation remains grim in the US, where the severe shortage of credit is pushing up the rate of property defaults. The number of commercial properties in default, foreclosure or bankruptcy is now valued at over $108 billion – making it almost double the amount at the start of the year...

http://online.wsj.com/article/SB124699914055907569.html REAL ESTATEJULY 8, 2009.London Office Deals Pick Up Union Investment Buys Building; Foreigners Are Active By WILLIAM BOSTON | SPECIAL TO THE WSJ In another sign that the London commercial-property market may have turned the corner, Germany's Union Investment Real Estate AG agreed to purchase a prime office building in the City financial district for £141.5 million ($230.5 million). The eight-story office building -- 10 Gresham St., located near St. Paul's Cathedral and the Bank of England -- was developed by Standard Life Investments, the investment arm of British insurer Standard Life PLC. With 260,000 square feet of leasable space, it was completed in 2003. Its tenants include Lloyds Banking Group, private-equity investor J.C. Flowers & Co. and property consultant Jones Lang LaSalle. The glass office building is located near St. Paul's Cathedral and the Bank of England. ."After the sharp correction in prices, London offers good opportunities for investors with equity who target core property assets," said Karl-Joseph Hermanns-Engel, a board member of Union Investment. Standard Life declined to comment. The acquisition, one of several deals in the past few weeks, is bolstering the view that London's commercial-property markets have stabilized and prices have likely hit bottom. The volume of investment in commercial property in the West End,.. See Link

I think this article may explain the reason for the boost of Confidence in IPI and FPO and the commercial Property Market in General. IMHO http://ftalphaville.ft.com/blog/2009/07/06/60466/saudi-fund-eyes-700m-uk-real-estate-deal/ Saudi fund eyes £700m UK real estate deal Posted by Stacy-Marie Ishmael on Jul 06 04:52. An investment manager part-owned by the Saudi royal family is planning to invest a chunk of its assets in UK and US commercial property, according to Prince Faisal bin Salman bin Abdulaziz, its chairman.For Jadwa Investment, commercial real estate was, with natural resources, the most appealing investment opportunity, Prince Faisal told the FT in an interview. The fund is targeting a £700m ($1.1bn) commercial property transaction in the UK in collaboration with European property investor CIT. Property specialists said only one transaction of that scale was under way: a portfolio being sold by insurance group Aviva, for which CIT is bidding.