George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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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.
http://online.wsj.com/article/SB124639154114775349.html?mod=dist_smartbrief LONDON -- Industry experts say the United Kingdom's commercial-property market, which is key to its economic growth, is starting to recover. But that recovery is nuanced: While prime real-estate values are stabilizing, property companies are facing declining rents, difficulties obtaining financing and the prospect of growing unemployment, which means most companies will keep struggling next year. The global recession hit commercial real-estate companies hard, with capital values falling 43.6% from their peak in June 2007 to the end of May, according to research firm Investment Property Databank. But IPD said that decline has started to slow, with capital values falling ...
The Boss of another property company has called the bottom of the commercail property market, this must be positive news for First property Group (FPO) Property boss calls the bottom of the commercial slump By Alistair Dawber Tuesday, 23 June 2009 Share Close Diggdel.icio.usFacebookRedditGoogleStumble UponFarkNewsvineYahooBuzzBeboMixxIndependent MindsPrintEmailText Size NormalLargeExtra Large The slump in Britain's troubled commercial property sector may finally be bottoming out, the chief executive of the property group Hammerson claimed yesterday. However, John Richards warned that only good quality assets would see a rebound. "There are clearly signs that the fall in valuations is slowing in some sections of the market," said Mr Richards, right. "The lead indicators of that, which are the companies' share prices, show that for those groups with prime property, income is proving to be robust." Mr Richards added that it might take until the third quarter of the year for prices begin to rise again, but that those companies with what he described as "poor quality assets and poor tenants" might experience a "double dip". Commercial property values in Britain have fallen by 44 per cent since the market's peak in June 2007. Hammerson raised £584m through a rights issue in March to avoid breaching its loan covenants, while its shares have lost 48 per cent of their value in the past year alone. The comments by M
Interview: UK properties ripe for plucking By John Harrington Date: Monday 15 Jun 2009 Compulsive deal maker Ben Habib, chief executive officer of property fund manager First Property, has overcome his scepticism about the state of the UK economy and is contemplating a return to the commercial property market in Britain. ‘Institutional interest in the UK commercial property market is returning, which is tremendous for us,’ Habib said. Traditionally the company has focused on investing in property in Central and Eastern Europe, with Poland being a favoured market for the group. ‘Poland has a low debt level and a well educated, young workforce,’ Habib told Digital Look when explaining why he likes the medium term prospects for the country. ‘Unfortunately for us, with the flight of international capital from eastern Europe the Polish market looks to be pretty dead this year, so we are looking at the UK.’ ‘The question for us is at what point in time will international capital return [to Poland]? The performance of the [Polish] Zloty is key; it needs to strengthen a bit. If it goes to four to the euro, that will be tremendous, but if it moves out to five, that would signal a hard time,’ Habib said. First Property, which has £10m of its own cash to invest in the UK, plus £40m of cash from the fund it manages on behalf of the Universities Superannuation Scheme (USS), reckons the time is right to mo
First Property (FP) exited the UK property market before it peaked two years ago. It moved to Poland where it has made a mint of money for its major client, the University Superannuation Scheme (USS) - and is now heading home. At the moment, FP manages over £310m of Polish and (two) Romanian commercial properties - £290m for USS and the rest of high net worth individual. The USS mandate allows the remaining £40m of university money to be invested in the UK. In addition, FP is likely to use its swelling cash balances to seed new UK property funds that may soon be available to institutional investors... See link for full article: http://www.investorschronicle.co.uk/Tips/Buy/MiniTips/article/20090605/455eae68-5065-11de-b1d6-0015171400aa/First-Property-is-about-to-return-home.jsp BUY - Although FP's profits may stagnate this year and next, it could attract a lot of UK institutional support as it was correct about the UK commercial property and, by and large, they were not. As the company steadily increases its dividend, we continue to rate the shares a buy for income.
There continues to be lots of buys going through on the ticker. I think we will see a move up by the end of the day IMHO
This article shows confidence increasing in the commercial property market which should be good for First Property Group FPO: http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSL267713920090604 LONDON, June 4 (Reuters) - British property firm Helical Bar is planning new development projects such as student homes and retail sites, betting that current low values and anticipated price recovery over the next two years will bring big profits. Helical (HLCL.L) has raised about 500 million pounds ($814 million) for the investments, including 72 million pounds of its own cash and funds from an unnamed U.S. private equity firm, its chief executive told Reuters in an interview. "There are markets where developments make sense -- we find the student accommodation market quite exciting, and we find various retail quite exciting," CEO Mike Slade said, adding the company was due to announce one such transaction within weeks. The company also expects to invest in redevelopment projects with major supermarkets in the UK, he said....
It is nice to see lots of £1,000 buys going through. As it shows that lots of people can feel the Property Market improving and gaining in confidence on this sector. IMHO
Nice interview with the CEO of First Property: http://sharecrazy.com/beta/board_talk/2003/new-video-board-talk-with-ben-habib-of-first-property
"...I'm all alone and there ain't nobody here beside meeeeeeeeeee" Shrek 1 ( in the donkey voice)
http://www.fprop.com/publicsite/index.php?mact=News,cntnt01,detail,0&cntnt01articleid=47&cntnt01origid=51&cntnt01dateformat=%25d%2F%25m%2F%25y&cntnt01returnid=76
...I like the financials of this company. In the trading update from early March the CEO's states "Our financing capability, coupled with our expertise and the £40 million in equity we still have to invest on behalf of our clients puts the Group in a very strong position. We remain cautious but will take advantage of attractively priced property where we believe the rental streams to be secure." And some unusually high late buys today.......
anyone have any idea why the SP is moving south? Just bought in at 14.25 and seem to be on the wrong end of the selling :)
According to posts on ADVFN and III these are about to breakout to the 20p+ mark. I bought in today at 13p. Maybe worth a punt.
2008 Profits up 188% on 2007, 2009 Interims up 7.3% on 2008 which can't be bad considering the current climate!!!
Somebody must have had a look at these too?
First Property Group plc (AIM: FPO), the AIM-listed property fund management group, today issues a trading update ahead of the year ending 31 March 2009. The Group's core commercial property fund management division is continuing to progress well. Total assets under management currently amount to approximately £314 million (30 September 2008 - £290 million). Despite difficult economic conditions, the funds managed by the Group earned an annualised rate of return on equity of some 12% (based on third party valuations), in the nine months to 31 December 2008.
Anybody else having a look at these?
Lots of Credit available to them for new purchases, been increasing pfofit every year for the last 4 yrs, and good announcement on 2008 profits coming: http://www.lse.co.uk/ShareNews.asp?shareprice=FPO&ArticleCode=alfbwtkxwgl5rlz&ArticleHeadline=GlanceSTOCKS_NEWS_EUROPEFirst_Property_rises_on_outlook
well done on NRK. I'm still stuck in their at 232p so gotta hold - it's giving me an ulcer! Looks like some profits have been taken on this one today which has held it at 19.5p, but happy with it longer term
I was in NRK the day it shot up 35%...sold the next day...
I worry about the profit takers, but I'm in this for a while yet I think as I think there's some positive things happening in Poland:0) Are you still in NRK shares? I think I have seen your name on there in the past? I've recommended FPO in the NRK chat room too :)
TandH, excellent news for those who have held these shares for some time. I had a serious look at the company's website the this morning. The advantage of a strong focus in Poland is that its economy/currency is getting stronger and the election results are likely to accelerate that process, without any of the complications found in Russia. How much profit taking there will be in the next day or two remains to be seen.