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When I first looked at this company I read about their refurb programme which the last years loss is attributed to, it is now complete. Their portfolio was worth 1.4 billion euros geared to 74%(1,400,000,000 x 0.26 = 364 Million asset) At the time they also had 40 million Euros in the bank not earmarked for anything. Aparrently their rental income has in creased from 50 Million to approx. 75 Million a year (post refurb) They have little debt (apart from obvious property finance) The main thing to note is that traditionally in German cities people rent! Thier property market was not in a bubble as was ours! So their property values were/are pretty stable/accurate. Also of interest they put their average aquisition costs per sq metre at @ 850 euros. The new build cost in these areas equates to 1500 euros per sq metre. They got the property cheap! finally if their stake of equity is worth 364 mill euros and they have 40 million euros in the bank (cash at hand) this = 404 Million euros/ 337.13 Million shares in issue = NAV per share (excluding rental income)= 1.198 euros per share. Current share value 0.3 euros @1/4 of NAV!. Ithink it is a good company with a lot of potential. I have a property portfolio of 6 properties in the UK. I am very happy to hold a share of 26,600 properties in Germany. DYOR GL Rigger.
up 20.69% this is looking very good indeed.
up 10.34%, their is very good news coming out of Germany
It was you who asked me to have a look. I am not quite a scatty as I appear.
Riddler not Rigger, I am so sorry.
There is a possibility of future dividends. The last results were 16th October, 2008. Hopefully, if everything is on course IMO this share price could rise, as the figures for this year should be a lot better. IMO I feel the share price is very low for a company with such potential. One of the questions I ask myself about a company is do they own land or property, the answer of course is yes.
I had a good look at this company and the outcome is I have purchased a few shares as I feel it has a lot of potential. I feel the share price could do very well. The share price fell around the same time as the property market fell. Germany has anounced it is out of recession following 3 months of positive growth. GDP is up 0.3%. At the last AGM is was anounced that a large refurbishment programme was in place for the following year, with the intention that this should be completed by July, 09. The residential property market is rising fas,t up for the third month in a row by 12.6%. The market has been described by Agents as very positive. The big problem with the market is the same as here, the shortage of money available to borrow. SDIC is a company with a large portfolio of properties to let and therefore their assets should increase in value. One small issue that could hold the property market back is that further property type taxes could be anounced in order to generate a further 25 billion euros. The last set of figures will have been based on property having a lower value and therefore the next set of figures should show a merked increase in asset value. Also if the refurbishment programme is now finished a lot more income will be being generated. Jim Mellon would appear to be a very shrewd business man and has invested additional amounts of money into the company over a period of time and has done so again recently. Continued................
Another gem waiting to be noticed! Mark my words!
A better day for Speymill.
can you come and comment on wtn, please? many thanks.
0.24 /\ 0.01 (5.49%)
I think that's normal for a Euro share. However, this share page at the top is not as it should be.
a bit confused as to the price shown on here. 0.24 is usually 24 hundredths of a penny but this one is actually 24p after euro conversion but trades are showing as if the yare fractions of a penny as well.
any views on getting into this?
No debt and 40 mil in the bank with a rental income of 75 mil up from 54 mil last year. 26600 apartments around all major cities in Germany worth 1.4 Billion. Good yield! Good share. IMO.
This share has a buy rating with a target rice of 0.58 euros (currently 0.25 euros) and this investment fund has just bought 20,000,000.
RNS Number : 3098T Speymill Deutsche Immobilien Co PLC 03 June 2009 TR-1: Notifications of Major Interests in Shares 1. Identity of the issuer or the Speymill Deutsche underlying issuer of existing Immobilien Company shares to which voting rights are plc attached: 2. Reason for notification (yes/no) Yes An acquisition or disposal of voting rights An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic eefect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to Karoo Investment Fund notification obligation: SCA SICAV SIF 4. Full name of shareholder(s) (if different from 3): 5. Date of transaction (and date on 29/05/2009 which the threshold is crossed or reached if different): 6. Date on which issuer notified: 29/05/2009 7. Threshold(s) that is/are crossed or 5% reached: 8: Notified Details A: Voting rights attached to shares Class/type of shares Situation previous to the triggering Resulting situation after the triggering transaction If possible use ISIN code transaction Number of shares Number of voting Number of shares Number of voting rights Percentage of voting rights rights Direct Indirect Direct Indirect IM00B1W65B86 nil nil 20,000,000 20,000,
Maybe because the share is priced in euros? I dont know. I trade with halifax's Iwebsharedealing and had no problems when i bought my first bunch of shares in the company on friday.
i to have been looking at this company but i cannot seem to trade it with TDW any idea why?
Panmure gordon Current rating BUY. I have always wanted to get into a company who hold an undervalued portfolio. This company own 26600 apartments around all the major cities in Germany. Last years loss due mainly to a massive refurbishment programme. Since this the company rental has increased by @25 million a year. Good times ahead.
Thanks for that, those cksn shares look very tempting may invest 2k in those as look like they do have some potentional.
They have E62.9 in the bank as of 31st December, 2008 and only E38.2 uncommitted. Total value of properties is just under 1.5Bn. This means that they have a Loan To Value rate of: E1.095Bn approx. They have interest payments at average of 4.72% so that's E52M in interest payments which has average debt maturity of next 5.4 years. Therefore outgoings of E52M with E38.2 cash uncommitted and they are generating E75M per annum in rental which is growing. Current Market Cap of 72M GBP which is: E89.59M. Seems to be in reasonable shape to me! DYOR of course!
Price has jumped since announcement, rental volumes up considarably from 51M to 76M, however the big downside for me is the LTV ratio of 73% including CASH in the bank. They dont have much room for manouver I'm afraid. But there was a lot of late punts on this one and with just 337M shares in issue, worth sticking on the old watch list for a couple of days.
Well worth it... check out CKSN aswell. let me know what you think
Very good sign. Slow movement if any but very steady and i believe will be huge again once economy recovers. Company like these, if they survive like I have full confidence than huge potential profits. Im in it for the long term.