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Charles Dickson, Executive Chairman, said:
"We are delighted to be working with Meadow to implement a fully funded strategy to institutionalise a new asset class within the real estate sector. Roadside Real Estate will offer exciting potential for investors and we believe this JV has the opportunity to create a portfolio worth £250 million over time.
"Having successfully developed a small number of roadside sites which have proven our concept, we will seek to rapidly convert our acquisition pipeline to create value for shareholders and our joint venture partner, whilst delivering valuable community amenities - not least increased access to electric vehicle charging."
Especially with the 'electric vehicle charging infrastructure' as part of the plan - there is a big demand for more of this at the moment and it is a subject that is getting a lot of media attention.
Only around 50k at these levels
And then watch people coming in here later today as most people have not even seen the RNS.....LSE was having technical problems this morning....could see trades neither
Remember they had in excess of 100 million in March. My advice is to snap up any free float while you can. My wife and I currently hold a combined 714,500. Sadly not enough in ISAs.
Still no buys - that's odd. I was thinking this might open up 25% or so.
Up 10 percent moving up
"Over the 30 month investment period, the JV intends to create a modern roadside portfolio worth over £250 million through acquisition, asset management and development, including opportunities across the portfolio for electric vehicle charging infrastructure."
Huge
That cash is what they need to take a big holding
Only the beginning. Consolidate the shares then watch the news come. As I've said previously look at who holds the .
Small holdings will probably be wiped out then the institutions will come in.
Sorry CSS.....
Just picked up the RNS.....WOW
Get CCS sold and they might want to renegotiate for a bigger percentage.
"On Sunday, Sky News reported that Barkby had decided to sell CSS to focus on its roadside real estate assets portfolio, with a potential value of GBP50 million for the Barkby subsidiary."
Expect this will fly today
Up 5 percent
Awesome RNS OUT
I thought that looked a good RNS. They have found a massive partner who will get things moving fast. Barkby Group might only own 3% initially but that can go up to 10% and at least it will be a percentage of something that is happening.
But all I can see no trades, only a few posts and very little interest. How odd.
Significant developments today at BARK:
* Formation of Roadside Real Estate Joint Venture with Meadow Partners LLP
* The JV is targeting a double-digit portfolio internal rate of return over the 30 month initial investment period
* Working with Meadow to implement a fully funded strategy
* JV has the opportunity to create a portfolio worth £250 million over time
"Having successfully developed a small number of roadside sites which have proven our concept, we will seek to rapidly convert our acquisition pipeline to create value for shareholders and our joint venture partner, whilst delivering valuable community amenities - not least increased access to electric vehicle charging." - Chairman, Charles Dickson
* Meadow is a real estate private equity manager based in New York and London with US$6.2 billion gross AUM. Its partners have been responsible for the acquisition and ongoing asset management of over US$30 billion of real estate assets located in the United States, Europe and Asia
* Company intends to change its listing identifier from 'BARK' to 'ROAD.' as the company is to change its name to 'Roadside Real Estate plc'
Also, in the RNS today: "CSS is in advanced negotiations with a leading global hotel group, a sports watch designer and a leading home entertainment equipment manufacturer".
Good luck, Brighty
With leverage this is a lot bigger. >£200m and they own 51% of the asset manager. Great time to be building a portfolio.
JV to "create a substantial portfolio of modern Roadside Real Estate assets to be funded by up to £100 million of equity" just announced. They are going for it....
Good luck, Brighty
Agree, I expect a major announcement soon.
Agree, I expect a major announcement soon.
Rolling this week me thinks
Livestock, this company won't be about pubs purely roadside. The sooner they divest the remaining ones the better.
A bullish update from Whitbread which boosted the dividend 40% as it reported strong demand lifted half-year revenue and profits.
The owner of Premier Inn also launched a new £300 million share buyback as it expressed confidence in its hopes for 2024 and beyond.
The firm reported revenue in the first half of the financial year rose 17% to £1.57 billion from £1.35 billion the year before while adjusted pre-tax profit jumped 44% to £391 million from £272 million.