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So INL have just won their appeal at their site (on the edge of) in Framfield (Wealden District). It's captured a consent for 58 homes.
There's massive demand for consented sites at the moment so I fully expect this to be sold too.
Nice to read some straightforward and thoughtful comments.
A long way from the robotic posts made by someone when this company was buying its own shares on a daily basis.
Trouble is they are a poor housebuilder in a difficult market - and they were losing money before it went bad.
It was better when they were just land buyers/sellers.
I think it may take a time to turn around, kitchen sink or not - possibly due a dead cat bounce.
I think I would also wait...
I think people are bracing for the bad news (I would expect the new ceo to dump al the bad news early doors, blame the old management and then hopefully move on upwards) before piling in.
Little interest in this company currently, the jury on the new boss is out.
https://www.built-environment-networking.com/news/600m-cavalry-barracks-plans-approved/
£600million Cavalry Barracks plans approved
£38million Mkt Cap
Seems to be just shorters invested here
The share price hasn't reflected the positive news today so far. A buying opportunity presents itself...
Nice
Inland Homes has gained planning consent for a planned £600m scheme to redevelop the Ministry of Defence’s former Cavalry Barracks site in Hounslow, West London.
https://www.constructionenquirer.com/2022/10/14/1500-home-london-cavalry-barracks-scheme-approved/
They've underplayed it somewhat, in my view, but to capture planning for 1,500 units in such a quick time (19 months from application submission) is stunning. I can't comment on the £19.5mill (whether it's a fair reflection of the terms of the deal ....but £19.5mill is £19.5mill....in this market that's alot of firepower.
That actually validates INL's business model in that respect.
It's just that the last 5 years have been absolutely ****e across some many elements of the development game. About the only thing that wasn't broken was the mortgage market/buyers market.........whoops.
Separately - I am seeing and speaking to alot of one-man-bands or smaller businesses with a bit of property or land and we have definitely seen an uptick in responses (we're not seeing desperation in the selling prices....people still want to absolutely max out their receipt, which is their right of course). Perhaps others that swim in the development game can comment - but we don't speak to fixd-charge receivers and the like so I can't comment on whether there's more distressed sites coming to the market than normal.
Perhaps the (slightly) refinancing mentioned gives them more breathing space, to capture a better consent, then sell it then. I took from that update that there aren't any notifiable issues on the main contracting side of the business and with the banks working with INL, there's extra confidence, and really importantly, time, to maximise sales.
That's my opinion on all of that.....but again..........it could be that the sale fell through and they're crying in front of their Ipads as we speak......
"As the strategic review has progressed, the Board has concluded that this sale of one of the Group's major sites would not be in the best interests of shareholders, who would be better served by this key asset remaining within the Group, where there are opportunities to add further value through planning enhancement."
So the deal fell through then?
Best bet might be to entice Paul Brett back who left a few years ago. Current decision makers are in a pickle and the macro position is against them and will get even worse. This looks like a private company in disguise, not one for the public as the share graph shows. Better to have had an investment in one's own property portfolio than putting any faith into these guys.
Stamp duty cut announced
The chancellor announces a cut to the Stamp Duty tax in England and Northern Ireland.
The cut raises the threshold of how much a property has to cost before stamp duty is paid to £250,000.
First time buyers currently pay no stamp duty on the first £300,000, that will be raised to £425,000.
"And we’re going to increase the value of the property on which first-time buyers can claim relief, from £500,000 to £625,000," he says. "The steps we’ve taken today mean 200,000 more people will be taken out of paying stamp duty altogether. This is a permanent cut to stamp duty, effective from today."
Stamp duty is a tax paid when you buy a property
Well, The Bar-steward of Marker Makers done it again, there was so much buying that decided to bring down the bid from 22.50 to 22 in doing so to stop the demand.
Finally moving forward, after yesterday's comments of Stamp duty on buying houses will be gone on tomorrow's update from the chancellor.
Yesterday the larger builders were rising
UK house price growth hits 19-year of 15.5% due to tax effect
LONDON, Sept 14 (Reuters) - British house prices leapt in July by 15.5% in annual terms, the biggest increase since May 2003, reflecting how prices in the same month last year were hit by the end of a tax break for home-buyers, the Office for National Statistics said.
July's increase represented a sharp jump from June's 7.8% rise in prices which was a sharp slowdown from May.
A Reuters poll published last month showed the surge in British house prices is expected to end next year as the cost-of-living crisis and rising interest rates put the brakes on the market
More director buying, after last week 9th SEP, 3 of them buying large .....
Director / PCA Dealing
The Company was advised on 13 September 2022 that Brian Johnson (Non-Executive Director) purchased 41,668 Ordinary Shares @ 23.97 pence on 13 September 2022
Tesa
Still see you are having a conversation with yourself about the share price . I guess what is actually going on under the bonnet and the future individual sites doesnt overly concern you.
Others look at the company from different angles to see if any new players in the market emerge as the industry puts its slide rule over the company Some private equity house?
Will sites be sold off piecemeal and at what discount or will it get swallowed up whole with somebody taking a huge view on construction cost rickets ?
Interesting few weeks ahead
agtively
Despite the seemingly chunky purchases......you've got to remember there are 225,000 shares out there still....so to build up a stake holding......is going to need alot more than we've seen, to trigger an RNS. Not saying it isn't happening but from looking at the trades, get the feeling it's one-man bands buying than big corporates. Happy to be corrected on this however/ interested to hear everyone's thoughts.
Surprised the RNS this morning only covers director purchases as I was anticipating that there might be some stake building going on.
sain@vision
Your bla,bla,bla, has the sound of a Sheep
stop following and believing what other say like "oi"
but follow me and you will be alright
Imagination and speculation of hair cut and the others is maybe what you need if you are bold.
another 18.29% rise tells you all
Up 18 % and why not , ya cant build land folks.
Like i said , they have assets and worth more than 18p. Your opinion is just that , an opinion.
Tessa
Bristling with indignation you seem to be having an arguement with yourself talking from your pocket. Most of the discussion here steers away from the share price itself and on the company.
The negative comment you refer to is simply a frank discussion about the real problems facing Inland . The extent of which has come as a bit of a shock and disppointment to many
You would be foolish to ignore those irrespective of how bullish you may be on the SP
Nobody is dancing on anyone's grave As some of the earlier posters said why didn't they get busy selling some oven ready land to stave off the breaches earlier ' Indeed
As Oi Oi says land sales is a drawn out process especially when land is not fully consented onerous planning conditions and obligations infastructure costs and services too
Plenty of due diligence required
A huge haircut on perceived value is likely required to get land sales over the line and paid to satisfy the bakers timescales