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Last post: mole_man99, 25 May 2023 09:56
It’s all so 2009. Collecting a div while you wait for recovery in London property market.
WKP was a safe place to wait last time and remain well managed to do it again, with a resilient trading model and no carbuncle buildings on the books to drag them under.
Welcome increase in dividend but still less than pre COVID levels.
Nd
Started: HappyInvestor100, 30 Mar 2023 09:12
Last post: HappyInvestor100, 30 Mar 2023 09:13
Wrong bo
Will try to buy a few more on any dips.
Looks very cheap relative to size of contract. Am already in Wood Group.
All IMHO DYOR
Happy
Started: chestermikeb, 17 Jan 2023 10:15
Last post: chestermikeb, 17 Jan 2023 10:15
Nice to see this above a fiver again. Hope the trend continues.
Started: schjmh, 11 Oct 2022 13:11
Last post: roulettewheel, 11 Oct 2022 22:33
Only Hammerson has a lower Price to Book in the Uk Main Reit Market, I started buy at P/B 0.50 which I thought was a safe move
70% crash in London property required for this SP. Hmmm
that everyone has deserted the offices in London and gone back to working from home with this continual decline in share price. WTF
Started: nextdeal, 20 Jan 2022 08:58
Last post: mole_man99, 7 Sep 2022 12:05
When this has doubled because London never did collapse, all the lemmings will turn up to buy it.
Looks like Mr Market really wants this sub £5!
I am buying a chunk at these prices. No need to wait for disaster induced BofA price. Even if it takes London to 2030 to recover from pandemic and office prices to return to prepay levels, WKP could see asset value of £15, and that would be a near 15% pa compounded return NOT including dividends.
If BofA had a brain they would be saying it is the buy of the century.
So true but I would be buying another chunk of WKP at that target price if it falls to that level.
BofA target price of 450 suggests a 50% write down of London property.
Strange how those half price properties never seem to get to market so we can buy them.
Last post: mole_man99, 25 Nov 2021 16:36
I don't think we'll see the pre CV price in 2022. NAV took too much of a hit and offices will still have a faint whiff about them. If we can climb up through the £10 next year I'll be happy. Then looking for a jump to £15 as London real estate gets revalued and investors reassess the workspace difference of offices for the new way of working..
Always lurking in the background are Blackrock buying it out. They already own over 8% so interested. I would look for an offer around £12.
Distinct signs of recovery back to pre CV price? What do you all think?
Started: mole_man99, 10 Nov 2021 13:42
Last post: mole_man99, 10 Nov 2021 13:42
Blackrock adding a few more. Wouldn’t be surprised if they bought it out one day. Just completed St Modwen sale to them. UK commercial property seems to be of interest.
Started: Oi_Oi_Savaloy, 21 Sep 2021 17:59
Last post: Oi_Oi_Savaloy, 21 Sep 2021 17:59
Workspace Group has sold 13-17 Fitzroy Street in the Fitzrovia district of London’s West End for £92m. - just announced by Property Week - thought I'd share it.
Started: maico490, 5 Aug 2021 10:41
Last post: mole_man99, 5 Aug 2021 22:57
WKP is set fair to profit from changed working practices or a return to pre-pandemic practises. Win win.
Will just take a little time for that to be reflected in the valuations.
WKP had a great rising share price until lock down Mar 20, since then, has certainly suffered. Some of the typical businesses that WKP serve will start to make a move back to the office soon. Lots of positive chatter about the negatives of home working and the government starting to ramp up pressure to go back in. All good for WKP and others like this. The debate surrounding isolation at home of those refusers will begin to impact their working relationships and ability to compete and contribute. It is a false hope to stay at home and expect to and opportunities as before the pandemic.
Recovery here is starting I think, for WKP it is going to be all about bums on seats and flexibility.
Holding until plus £15!
Good luck everyone. Like to hear your thoughts on this very empty chat ....
Started: eddypinder, 15 Jan 2021 16:47
Last post: mole_man99, 26 Feb 2021 09:35
Goldman Sachs CEO calls work from home an aberration that will be reversed as soon as possible. He won't be alone.
I anticipate good things for commercial property values ahead.
My price target is £15 within 3 years.
This year may be a laggard, and maybe even some writedowns, but next year will be a reversal write-up (assuming no virus restrictions) and the year after will get London commercial property values beyond pre-pandemic, where we were rattling up to £13.
During this period, WKP carry on improving the properties and adding further value. £15 may be too low.
15/01/2021 JPMORGAN RAISES WORKSPACE GROUP PRICE TARGET TO 855 (820) PENCE - 'OVERWEIGHT'
Last post: CameronF, 8 Dec 2020 21:25
Awesome stuff. I stuck at my shares but didn't top up when we were at around 400p a share. Hindsight is a wonderful thing, but happy I didn't bail out all the same. Their assets speak for themselves, so no real risk in having shares with WKP. Lets see how we do.
The cheap train is departing the station. £15 by end 21.
Was in for continuous run of 12 years. Sold out when things started falling apart and bought it all back in an average of the 500's.
I really liked owning WKP for the period, and the future will be no different. The investment community has now decided the pandemic will pass and is starting to value things at recovery prices, airlines, cruise lines etc.
WKP NAV will be around £10 coming out of this event.
Get them while you can.
Post Brexit, and London will shine and London property will rise with it. WKP do a darn good job of increasing the value of their properties, while covering the div with a good business model.
Go WKP, our little secret.
CameronF been in for 4years .....had some great returns here. CV19 has put the dampeners on and yesterday's announcement although a slight loss, didn't help.
I do expect post Covid en mass return to office space and WKP do also hold a significant value still!
Lets us hope
This chat is very much dead, so thought I'd pipe up. I have held shares for the majority of the lockdown now, getting in at 630p before it fell to 400~. How is everyone holding up?
Started: mole_man99, 19 Aug 2020 01:01
Last post: mole_man99, 19 Aug 2020 01:01
Over in US, Amazon betting on an office based work future, expanding offices in 6 cities. Virtual team work not as spontaneous.
'We are looking forward to returning to the office'. Ardine Williams, VP of workforce development.
WKP is being offered at 50% off NAV at the moment, unless you think London working is finished.
Started: chestermikeb, 5 Aug 2020 23:00
Last post: mole_man99, 12 Aug 2020 00:53
Long termers have seen it all before. WKP generally lags behind other property companies. It was only just getting going to stella highs before COVID hit after a few years wait.
The recent rise came at the same time as the pound appreciating sharply. My suspicion is the market gained some confidence in UK and UK property assets and started to mark them up. This effect has now stalled, so WKP drifts.
I found the best way to deal with WKP is to work out where you think London property is heading next 5 years, check the current NAV for WKP, mark it down a bit, buy if it is under this price, then don't look at your holding for at least 5 years.
It is a pension cornerstone, not a share to make you smile daily.
The underlying business is well run and a good product, especially once normal service resumes, but it is all really about the value of the property, and right now, the market thinks offices in London are worth 50% less than they really are.
Pounds for 50p. 5 years from now, you'll wonder why you didn't buy more. For the rest of this year, you'll wonder why you bothered buying any.
Can anyone with more knowledge of share price movement explain to me what is going on with this share price? For weeks it falls, only to jump up on no news with massive buys/sells showing up at the start and end of each session. Now it seems to be yo-yo-ing...I just wish I could pre-empt these moves...
Started: mole_man99, 28 Jun 2020 01:00
Last post: mole_man99, 18 Jul 2020 00:55
No love for WKP in the market. Think we'll have to wait for the next financial update to show the market that vacancies have not spiraled.
The smaller office revolution is coming. Fuzitsu in Japan introduce new permanent work from home policy to reduce size of head office. Twitter done this in US. Others will follow.
WKP is a slow burn. It was same in the 08 downturn. It will take the market a while to realise first their offering and proterites are different to larger office REITS trying to rent out whole floors of skyscrapers, then second they can keep increasing the value of the property assets under management beyond any basic market in crease in property.
A certain portion will go mad working from home. We will still need offices, just smaller and more flexible.
Hey mole_man, I had similar thoughts here. Also once the economy starts to get back into recovery mode, there's going to be a lot of new startups businesses who are all going to need flexible office space. WKP is ideally placed to provide it.
Beginning to wonder if WKP are sitting on a boom for their style of business. Larger companies may just want a smaller more flexible space, and continue on with many working from home. It's the tall buildings in central London letting off whole floors that will suffer.
Started: DanSteely, 17 Apr 2020 08:46
Last post: mole_man99, 5 May 2020 23:31
It is much better to miss a month or two rent from a good customer and then have them back as soon as lockdown lifted.
A permanent work from home world is a dream being touted around the media right now. Reality is that quality business that WKP house will be craving to get back to group working, but they will need more space due to gaps that must be left between workplaces.
Office space could see a supply squeeze. Barclays will go to the wall if they think they can run a top bank with workers at home in pyjamas.
This morning's RNS demonstrates that the company cares about the long term interests of everyone affected by this Covid19 and is sharing the pain.
Started: ODONNELL, 12 Aug 2019 21:00
Last post: maico490, 14 Oct 2019 12:03
Hello ODONNELL, looking and reading!
Yes very undervalued, nice poke up to £10.30 for a while.
Longer term ambitions of £13.25 ish in my mind. Had lots of cash out of WKP in the last three years. Hugely successful and lots of value added under new CEO. Still a bargain
Keep looking!
Must be a bargain at 800p
25.6% discount to NAV
45.54% discount to its highest price
If you are offered property in London at a 26% discount would you be interested
Not that any one reads these on here
Not sure why the drop. Is it because the directors sold to cover their tax liabilities? or because of it being ex div.
Looks cheap with about 20% discount and 35% of its high. We have bought more today.
Started: ODONNELL, 7 Dec 2018 10:36
Last post: Bev88, 8 Jun 2019 12:37
Seems like market makers have manipulated price down. This is a great growth story at a discount to well managed assets run by smart people paying a good div.-I,m filling my boots at these silly levels.
BOUGHT 80 SHARES BETWEEN 9 AND 10 AM AT 839P YET IT HAS NOT SHOWN UP ON THE TRADES, HAD THIS HAPPEN BEFORE WITH OTHER SHARES. ANY ONE ANY IDEA WHY THIS IS. NOT EXACTLY A LARGE PURCHASE .IT WAS JUST A TOP UP.
Last post: Shermdog, 6 Jun 2019 21:12
Looking at putting abit of money into this any thoughts? Am I to late to get the dividen?
Started: dyche, 23 May 2018 13:39
Last post: Bev88, 3 Apr 2019 17:54
Best wishes and thanks go to Jamie Hopkins- trust his issues whatever they may be, resolve and hoping he remains on St.Modwen board.
On a whim I bought into this business in November 2014 and HL tells me my money has grown by 63% since. It's also paid me a modest divi every six months. The business continues to add value although I guess the test will come at Brexit when London may become more of a backwater. Hats off to Jamie Hopkins and his crew for running such a tight, steady and progressive ship.
LOOKING DOWN THE LIST WE CAME ACROSS TWO PURCHASES FOR 70 AND 3 SHARES NEXT TO EACH OTHER TO MAKE UP OUR 80 PURCHASE. WHY THEY WERE ENTERED LIKE THAT BEWILDERS US. FOR A SMALL AMOUNT YOU WOULD THINK ONE MM WOULD HAVE SOLD THEM TO US RATHER THAN ONE FOR 77 SHARES AND ANOTHER FOR 3 SHARES
Started: Bev88, 6 Jun 2018 08:39
Last post: Bev88, 6 Jun 2018 08:39
Stunningly good performance-a well oiled machine driven by class acts-well done!
Started: JustChampers, 22 Dec 2017 08:50
Last post: JustChampers, 28 Dec 2017 08:20
£10 achieved, and a dividend in a few days time !
Towards £10 !
Started: AimNovice, 23 Aug 2017 14:56
Last post: AimNovice, 23 Aug 2017 14:56
Just bought in here,looks good with the new investment and on the technical insight of the company. Let's hope it can push on from current value.
Started: courtier, 14 Jul 2017 11:33
Last post: courtier, 14 Jul 2017 11:33