Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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addition, our mixed tenure business model remains robust and provides us with a degree of resilience with only around 40% of our business reliant on the private for sale market."
I think that this, like Vistry ( and perhaps others ) is comparatively well-placed in these times due to its partnership/mixed tenure model. It is getting old, but tie ups with such as this with local authority provide greater resilience.
https://www.countrysideproperties.com/news/countryside-chosen-partner-bracknell-forest-council-next-stage-ps124m-regeneration-bracknell
Just another article, including :-
The CMA news is "unexpected", said broker Liberum, "as we thought the industry had resolved this issue".
Analysts at Peel Hunt said: “While probably not a massive surprise it had been very quiet on this front for a while.”
Noting that the practice of selling houses with ground rents effectively stopped three to five years ago, though some homeowners are still affected, the analysts added that “this will be unhelpful for sentiment and we would expect some fines and reparations in due course, although we would not expect the amounts to be material”.
https://www.proactiveinvestors.co.uk/companies/news/928286/three-ftse-100-builders--wrists-slapped-by-watchdog-over-unfair-leasehold-terms-928286.html
This is the last I have found. https://www.haroldbenjamin.com/site/blog/harold-benjamin-blog/government-to-reform-ground-rent-in-leasehold-property-market
I presume it has yet to pass into law.
Regardless, unless there is a change of heart it looks like this is where they are going anyway.
https://www.propertymark.co.uk/advice-and-guides/buying-a-home/changes-to-leasehold-houses-and-a-new-homes-ombudsman.aspx
Builders know that.
The thing to remember is that none of this is illegal, immoral maybe (and even I don't fully agree with that), but not illegal.
The issue has been bubbling for a while, and the rules as they stand and in the future, affect all builders ( and some others ) This will come as no surprise, and they will likely be provisioning for back dated compensation, if applicable.
It seems a question of being forced/agreeing to comply, rather than penalty. I have no idea of total revenue/profit involved. The company, like others, has not seen fit to give any form of financial liability warning.
https://thenegotiator.co.uk/cma-leasehoild-investigation-four-builders/
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Anyone with any insight, how will this effect the SP?
https://www.google.com/amp/s/www.bbc.co.uk/news/amp/business-54023631
Jinxed it
big rally today. 400p on the way.
£5 million buys, 500k sells today!
Turning point seems to be today! North we amble
All the recent news has been excellent.....but the mkt seems to hate the dilution. Housing stocks are not being bought.
Turning point reached ? Or too soon?
Nope....down again. Every day since the placing. Weeks now.
Homes, hospitals, schools and shops to get 'automatic planning permission' under government shake-up
Housing Secretary Robert Jenrick says it is a "once in a generation" chance to build the homes and amenities families need.
Well if this does not go up after this....
I genuinely believed today was going to be the day this stock was going to start to turn around. This is massively being oversold (Huge understatement) I'm going play it by ear Monday/Tuesday and possibly top up as just to bring my avg down. Enjoy the weekend
Do not know what they are up to but someone defo wants out, volume high again. I think need to be sure the mid 270s hold before topping up. It is oversold according to the technicals but when it will reverse? Likely only when whoever wants out has finished.
Despite the offering being disappointing, I filled my pockets along with many others, the question is where is bottom and do I top up ? The mid-long term on this stock has to be a no brainer as I mentioned earlier the order book is bursting and stamp duty deal I don’t understand why this stock has been hit so hard.
They only gave a circa 7% discount on the previous close and the MMs raised the price up leading up to the placing!
Couldn’t agree more great chance to get back in well under the placing price and hold mid-long term
Well it’s safe to say that placing didn’t go as I expected 1) I was expecting a bigger discount than 15% 2) I wasn’t expecting the market to react soo badly - probably just bad timing due to second wave fears / current events. Fingers crossed it makes a recovery soon, they’ve got a great order book and business model with the mixed tenure approach.
They said they had spoke to the major shareholders about the placing but it looks like not all agreed?!!
271 an important level.