The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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.
If the end of June low was the spring , gives a point and figure count and a 60p target .
The lack of strength of the move off the low suggests more range bound trading ,
This will form a larger base and a higher potential target further down the road .
Looking at chart , with my wyckoff hat on the
Stopping action around 30p end of Feb
Buyers came in strongly and pushed to 45p in a few days , shows someone had faith.
Retest of the this low end of June .
Currently rising on declining buying volume , range bound 30-45p
I am looking for a flush out spring below 30p.
Will be putting on watch list
GLA
Yes sheds have had a good run with some eye watering prices being paid ,All you had to do was turn up Secondary kit investors getting slightly more picky with a close eye on EPC ratings.
Lads at Hansteen as usual timed their exit almost to perfection
Certainly will be interesting to watch Foxys journey again . All very light volumes on sales in the Inner prestige areas,only lettings keeping the wolf from the door
Only 8 properties under offer/in sols hands in their Sloane Square office acc. to ZPl and just 2 of those over £1m!
A staggering third of their sales inventory have been on the market there for 12 months or longer .Something has to give
Just as well lettings are robust there
Considering historic reputational damage to Foxys property mangement departments they have done well to keep this healthy
Think its too early to take a position , need an end to the rate raising cycle and a drop in house prices and sales volume before i will be buying in . Looking in USA big drops happening in construction and sales right now , history suggests we follow .
The shed game is over for me for now Sain , got to 2.5m sqft of very secondary space before selling out , actually sold a few weeks after Hansteen deal , may have been a bit early but not complaining .
GLA
Last time around the houses Foxtons incrementally expanded into adjoining areas without having to buy in business .with hard cash .That was a sensible strategy
Countrywide of course went to the other extreme actually brrowing money to buy in businesses paying hard cash which were effectively golden goodbyes for senior partners with the revenues evapoarting when they banked the fat cheques and left .Countrywide holding the debt
Hopefully if Foxys do expand by reaching out beyond their normal stomping ground they fund the purchase mostly with paper in order to give a vested interest to the fee generators to remain on the premsies
Some deals to be done no doubt
Only 2 weeks before Gitens turns up. I am hoping he already has some idea of what needs to be done. As you say, market is slow so some restructuring or deal making needed here to stimulate interest and the SP.
I would imagine Rich and Rollings will have him well briefed.
Appleby Yes watching property sector closely .We need another Hansteen ! I avoided Warehouse REIT as I thought they had arrived on the scene too late but that proved not to be the case !
Currently out of housebuilders but invested here Fletcher King & Winkworths in estate agents + recently into Hammersons +Assura in other property related
Inner London branches suffering from low volumes of sales so plenty of scope for pickup when it happens!Canary Wharf where much of the inventory has been on 12 months or longer seems to have picked up ever so slightly Happy with management setup but a difficult market ahead
Sain you still about , totally out of property at present . Moved to commodities and providing low ltv property loans .
Good luck
Thanks Sain
Ian
Under table 3 of level 3 financial assets .Paid a further £0.4m to Pd Innovations Ltd T/a as Boomin which is classified as a Level 3 FVOCI asset
Maybe Foxys upped sticks to OTM as they got cheesed off with Bruce for instructing Savills instead of Foxtons to sell hs Sunningdale home .He ceratinly shot himself in the foot on that one
Perhaps he has earmarked the proceeds to buy Foxtons shares in Boomin LOL!
Sain - Where did you find out about Boomin? I didn’t see it mentioned in the report
One day Rodney!
A 3% rise in revenue leading to a 21% increase in profit before tax. Nice operating leverage !!
Good to see lettings pick up the dip in sales
Looks like they dropped another £400k into Boomin in H1 A parting giftt from Biudden That makes a total of £3.4m which more than likely they will have to write off in H2
The battleship has turned let's hope Budden hasn't left any unexploded minesi n it's wake
Be very surprised that H1 2022 hasnt taken a dip from 2021 as sales were artificially inflated due to the rush to beat the
stamp duty relief deadline
Plenty of share action yesterday though .mind !
What is for certain is that they will be writing down the £3m investment in Boomin .It's only a question of when The OTM announcement would have certainly set fire to that
They really have been removing any traces of Budden .I think shareholders are just going to have to be patient.the market in H2 is going to be indifferent
I'm gonna say that H1 revenue for 2022 will be exactly the same as 2021 (£65m).
Will be good to see what's happening to costs...hopefully they're being managed downwards but it will be good to see that in black and white.
Will be interesting to see if Boomin gets a mention.
I think the outlook will be for a bigger H2 than 2021.
Expectations not very high for H1 .Sales down Lettings have been fairly resilent and extraordinary costs assocaited with extricating Budden from the company & his dealings .
I wonder when they are going to write down the value of their £3m investment in Boomin. That must be worth half of SFA
No doubt some deals in the mix