Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Well if you thought the BODS were going to give a detailed explanation to justify the firesale .think again
Expressed some concerns about having to take some equity stakes in BTR and possible operational .Well same rules apply to everyone else.Red herring
Eeach on its own merit and prices would adjust to reflect TEF's exposure to risk of rental voids etc
This isnt the case today and if a problem back to private housing
This will be a situation faced by the whole sector
Watkin Jones have set up a seperate company to manage and let ther student schemes as universities have pulled away from taking long leases .The strength of Watkin Jones covenant has still enabled to pass these on to institutions without any affect on yields
Sain, I agree that this document does not enlarge on what we already knew about the reasons for the proposed sale - not even who approached who first.
As to the meeting yesterday, in response to a couple of queries, I made the point that the meeting was rather a non-event (as expected), because the bid could not be discussed. The conversations that I had afterwards were on other off piste stuff not in any way relevant to the bid, directly or indirectly.
>Expressed some concerns about having to take some equity stakes in BTR and possible operational
Perhaps an indication of TEF's position in regard to the partnerships though and the Institutions' careful approach. It sounds like they don't want to take equity stakes and get involved in operational but don't have much choice. Not a good position to be in if that's the case.
Cybs
There was always the possibility that at some stage in the BTR journey institutions or partners will want the developer to have some skin in the development to share risks This was always going to be the case so to hoist it up now as some sort of red flag to jusytify jumping ship is a poor excuse .
As they scale up providing a management and letting service would be an additional revevue stream and a logical move
CBRE already of course having an in house team availble to exploit this
>There was always the possibility that at some stage in the BTR journey institutions or partners will want the developer to have some skin in the development to share risks
Yes but giving institutions what they want may just show the balance of power.
After having all this interest from multiple potential partners and TEF being able to pick and choose who they partner with they now appear to have ones that are asking them to do something they're not very keen on doing.
Institutions may not be as desperate for TEF's services as previously thought. The unlimited fund for growth may not actually be there on the terms that TEF want.
It doesn't look like TEF are in a very strong negotiating position if they are having to do things they don't want to.
I really dont think that is the case TEF are in a very strong negotiating position as they deliver in difficult Boroughs
These developments are often 5 years from start to finish . The quality of the developer is of prime importance rather than fighting over the last £
It's just a flimsy excuse