Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Michael Slade, Chief Executive, added: "It has been a long and hard four years since the warning bells sounded in mid 2007. It has required patience and discipline, however, the slate is now clean and the platform established to enable us to return to our outperforming ways."
HELICAL ESTABLISHES PLATFORM FOR FUTURE OUTPERFORMANCE Financial Highlights § Group's share of net rental income up 19% to £17.8m (2010: £14.9m). § Net gain on sale and revaluation of investment properties of £7.5m (2010: £8.2m). § Loss before tax of £6.3m (2010: profit of £7.9m). § Diluted EPRA net asset value, including trading and development stock surplus, down 7% to 253p per share (2010: 272p). § Group's share of property portfolio of £532.2m (2010: £494.5m) § Ratio of net borrowings to value of property portfolio of 45.3% (2010: 46.3%) § Final dividend proposed of 3.15p per share taking total dividends for the year to 4.90p (2010: 4.75p), up 3.2%.
http://www.investegate.co.uk/Article.aspx?id=201105260700153143H
Helical Bar raises £24m through disposals Date: Monday 11 Apr 2011 LONDON (ShareCast) - Property business Helical Bar has got the pruning shears out again as it continues to reshape its property portfolio. The company has raised £24m through five disposals made at a combined small discount to book value. The disposals are: St. Andrew's House in Woking; some phase 2 development land in Southall; Beacon House in Fleet; 24,000 square feet of vacant office space in Crawley plus 21 more units (since September 2010) at Bramshott retirement village in Liphook. Coming through the in-door is Langlands Industrial Estate in East Kilbride, which Helical Bar is acquiring from Henderson for around £6m, representing an initial yield of 10%. Langlands Industrial Estate is a freehold 150,000 square foot modern estate with 26 units let to 18 tenants. The estate currently has a 16% vacancy rate by floor area and provides the potential for rental uplift, the company said. "We continue to look for opportunities to recycle equity from mainly non-income producing property into higher yielding investment properties where we have identified the opportunity to apply significant asset management to deliver future upside,” said Duncan Walker, senior development executive at Helical Bar.
Duncan Walker of Helical Bar, said "We continue to look for opportunities to recycle equity from mainly non income producing property into higher yielding investment properties where we have identified the opportunity to apply significant asset management to deliver future upside. We believe that re-focussing our equity in this way is creating an excellent platform for future performance."
Helical continues sales programme in line with strategy and makes a further acquisition Helical Bar plc is pleased to announce a number of further transactions in the UK, in line with its strategy to sell non-core property and build stable cash flow within the portfolio through strategic acquisitions. The Company announces the sale of the following assets from its portfolio generating total proceeds of £24m. Combined, the sales were undertaken at a small discount to book value. They are: · St Andrew's House, Woking for £8.25m to Vantage Asset Management. The property was originally acquired in June 2010 as part of the F3 portfolio. Lambert Smith Hampton and Tudor Toone advised Helical. · Phase 2 development land at Southall has been sold to Chancerygate (Helical's current joint venture partner on the estate) for £3m to enable it to take forward the development outside of the joint venture arrangements. Both parties were unrepresented. · Sale of Beacon House, Fleet. This 6,000 sq ft vacant office was sold to CV Library for owner occupation for c.£800,000. London Clancy and Hurst Warne acted for Helical. · Sale of 24,000 sq ft of vacant offices in Crawley to OCS, an owner occupier, for £3.9m. Stiles Harold Williams and Knight Frank acted for Helical. · Since September 2010 the sale of a further 21 units at Bramshott Place Retirement Village, Liphook for £8.2m. Following its recent shopping centre acquisitions, Helical has exchanged contracts on the acquisition of Langlands Industrial Estate, East Kilbride from Henderson for c. £6m, representing a 10% initial yield. Langlands Industrial Estate is a freehold 150,000 sq ft modern estate with 26 units let to 18 tenants. The estate currently has a 16% vacancy rate by floor area and provides the potential for rental uplift.
http://www.investegate.co.uk/Article.aspx?id=201102160700083012B
Property development and investment firm Helical Bar (HLCL) further increased its transaction activity by 23 million pounds in the UK as it continued to fulfil its strategy to increase cash flow within the portfolio, sell non-income producing property and take advantage of value in the investment and development market. The group said it had exchanged contacts on the acquisition of Sutton-in-Ashfield Shopping Centre, Leicestershire, for 16.1 million pounds, representing approximately 8.5% initial yield, and generated 6.5 million pounds from the sale of a number of assets from its portfolio. Helical shares inched up .
If I was to trust any commercial developer in the UK it would be Mr Slade so I have entrusted a few K to the cause interesting times ahead if you're on the Helical train awaiting departure!!
Interesting article http://www.iii.co.uk/articles/13541/stock-watch-helical-bar?cp_c=vcrm8s&cp_v=4295641&cp_id=543&cp_sub_id=1195
now I will be tipping this one to do a lot better...
sold a stake of their shares at 300p and on the same day exercised their options for the same amount of shares at 88p. Practically Free Money!