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really frustrating why the sp here just wont budge above 30p! if we can break through that barrier and onto a new higher trading level then who knows where this will end up. still one of the best recovery plays around imo.
That's a lot of very small buys going through today with a couple of big ones. Anyone know what's happening? I like this stock. I've been in since 15-20p and I see no reason to let it go for a while yet. Another month for the results. Lets hope optimism is justified!
Property plays Created: 18 April 2011 Written by: Simon Thompson Working that space Workspace, a leading provider of industrial and office space to small- and medium-sized businesses in London, has been making noticeable progress realising value from its developments in recent months. Three weeks ago the company entered into a development agreement with specialist London residential developer Mount Anvil, for the regeneration of Wandsworth Business Village, SW18. Workspace had already obtained mixed-use planning consent on the two-acre site for 209 apartments, a quarter of which will be affordable housing, and a new 80,000 sq ft business centre. The company will retain the overall freehold of the site and will receive half of any proceeds from the sale of the private residential apartments in excess of £50m. And, in March, Borough Tower Hamlets granted consent for 557 apartments and a new 60,000 sq ft business centre at the company's Bow Enterprise Industrial Estate, close to the Olympic Park. Only a few weeks earlier, the Secretary of State granted permission for seven acres of land at Workspace's Tower Bridge Complex, in south London, to be redesignated as mixed-use. An application for 1,070 apartments and 90,000 sq ft of new commercial space is now going through the planning process. The company has also entered into a five-year joint venture with BlackRock UK Property Fund to target high-yielding multi-let industrial or office buildings in London and the south east. The partners are committing £100m of equity into the venture - of which Workspace will contribute £20.1m - and it will be seeded with the sale of eight properties owned by Workspace worth £35m at an initial yield of 8.2 per cent. The proceeds of the disposal will reduce the company's debt and will lower its pro-forma loan-to-value ratio to around 50 per cent at the end of March 2011, according to analyst Michael Burt of Espirito Santo. Given this positive newsflow, it is hardly surprising that shares in Workspace have been making progress and, at 27p, they have risen 20 per cent since I advised buying at 22.5p ('Hot property', 14 Oct 2010). Moreover, they are now closing in on my upgraded target price of 29p ('Target prices', 7 Feb 2011). That target price looks very achievable as it equates to Oriel Securities' triple net asset value (NAV) estimate of the company and is a 17 per cent discount to Espirito Santo's March 2012 NAV estimate. So, offering a further 7.5 per cent potential upside to my 29p target price, I remain a buyer of Workspace's shares ahead of its full-year results on 6 June.
In the budget was an announcement to make obtaining planning permission easier - and subsequently a consultation paper has been released. The idea is to allow landlords to change the buildings use from (Use Class B1) light industrial / office to (Use Class C3) residential. Not a new idea as you can already do this eg - move from A3 restaurant to A2 (financial use - bank etc) to A1 butcher, baker etc. If this gets the green light - the NAV of Workspace will rocket as they have loads of fabulous buildings in or near central London where residential values are significant. Remember DYOR and GL all.
Charts indicators show 96% buy: http://www.insidestocks.com/texpert.asp?sym=wkp.LS&code=BSTK Can feel wind gathering in sails now after a good while becalmed. See also number 416 out of 914: http://www.nasd100.com/2011/04/best-rated-uk-stocks-apr-4-2011.html
Workspace hubs aim to woo the entrepreneurs from Evening Standard yesterday London's biggest landlord for start-ups is to open 12 "entrepreneur hubs" across the capital. Workspace hopes its Touchdown centres, set up within its existing sites, will attract small business owners looking for temporary office space where they can combine working with networking. The first two centres will open next month in Clerkenwell Workshops and The Leathermarket near Tower Bridge, with another 10 planned for the following 12 months. Kennington and Westbourne Studios are among the other sites being considered. Membership costs £75 a month. http://www.thisislondon.co.uk/standard-business/article-23937612-workspace-hubs-aim-to-woo-the-entrepreneurs.do
Agreed. WKP is becoming a good prospect. Can't see a return to the heady heights of a while back but I reckon there's certainly scope for 50-100p here - but maybe not till 2012. There should be no nasty downside surprises while interest rates remain low and steady and their property development projects seem to be earning the income. I'm in at 13p and still buying small parcels occasionally. One for the steady climb I think.
Wandsworth Business park j/v and pp at Bow Enterprise Industrial Estate, E3 close to the Olympic Park. Plus redesignation of Tower Bridge complex as mixed use. All good. GLA http://www.workspacegroupplc.co.uk/rns-archive/rns-announcements/
http://www.investegate.co.uk/Article.aspx?id=201102240700077482B
big buys in wkp to end the week. dont understand theres so little interest in wkp on this site - its a great recovery play in my book.
http://www.iii.co.uk/investment/detail?code=cotn:WKP.L&it=le
there was also a small section on Workspace in this weeks IC saying that this one could be worth a watching, the chairman has bought a "sizeable share purchase". And some "heavy trading" in the shares...!
just my opinion based on the fact that the SP has been trading under the NAV all year and that if you believe what you read, London is one of the first and only areas in the country where things are picking up.... if you read the iii board you'll be able to read more about increase in trading activity on this share, in addition to L2 information, which suggests resistance at 23p/24p... if we can get past this, then it could go up by a few pence.... latest results out on 15th November... I reckon this one could get up to 24p in the lead up to that date, and if the news is good, we could see 25p-27p.... all just my opinion.... DYOR....
What makes you think this could be about to breakout ? what has changed in the last 12 months to cause that ?
.... don't be fooled and sell out just cos this one has dropped a bit.... the next set of results published by WKP could see this finally breakout, having been pretty stagnant for the last 12 months or so.... GLA....
.. on this one today....
... continues to tread water.... fluctuating daily between 20.5p and 21.75p..... I think it will eventually break out and kick on beyond 22p and upwards, but it;s anyone's guess when it will.... I am pretty confident that it is only going to head one way though... cannot see it dipping below 20p again, but we may have to be patient before we start seeing this one rise up to what I believe is it's true value....
thanks for the info, sounds positive.
89m shares were sold at 19.25p. This was a holding of Scottish widows and was bought by a new investor'. Supportive of the groups management team' FT & daily telegraph
We should get an RNS about this later. Maybe this is what has been keeping the SP down if MMs have been filling the order for a while... For every seller there is buyer, so the fact that the SP hasn't dropped is def a positive!
There is an 89m sell first thing this morning - sold for £17m approx..... not sure why, but that seems to have let this one go free and rise upwards.... anyone got any idea what is going on?
Rise is overdue, but seems to be a v.large amount of buys!
.. when or if things well ever get interesting with this one again.... talk about a big bag of boringness.... still think the sp is seriously undervalued at it's current price, so will continue to hold, would just be nice to see a bit of action for a change instead of the same old same old everyday.....
Can someone please explain what it will take for this share to move north ? 581305 bought ( poor devils ) and 76783 sells and the price still goes down ! I have been holding for months now hoping for 24 to come along....No chance. Cheers TJM
http://www.investegate.co.uk/Article.aspx?id=201008261156446922R