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Real estate: Commercial property values rose by 0.2 per cent in August, the first monthly rise in 26 months, according to the Investment Property Databank (IPD) UK Monthly Index. IPD said that a continued easing in negative rental value growth — which improved by ten basis points to minus 0.48 per cent in August — together with a second consecutive monthly improvement in yields — now at 7.86 per cent — were behind the first positive growth since June 2007. Prices of shops, offices and warehouses had fallen by an average of 44.2 per cent from their peak.
Might take a small punt with these in the morning!!!
It seems like there are raising funds to reduce debt in other ways than R.I. i think they are looking to the future and should prgress well . The property market is moving so will this soon enough.
EGM has to be called as the net asset value fell below half of its called-up share capital owing to the fall in value of the units in the Ashtenne Industrial Fund and the Apia Regional Office Fund. As a result, Warner will convene an extraordinary meeting to consider if further steps need to be taken for the group's recovery. Warner is in discussions with its three lenders, Royal Bank of Scotland, Bank of Scotland and Barclays, to extend and amend its banking facilities, as well as to provide additional working capital
Warners website http://www.warnerestate.co.uk/ 2 year decline? Recession and reduced property values. Take a look at the basic graph below for a few comparisons. The likes of QED and BLND have started to recover but lots of others are still around the 52 wk lows so IMO once these companies have sorted out their finances etc the potential upside with property price rises is huge, and in my eyes not to be sniffed at. Will we see £9.30 again in a couple of years? I have no idea but with the whole world focused on London towards 2012 40p range will seem cheap. http://www.google.co.uk/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chdet=1252776910437&chddm=637217&chls=IntervalBasedLine&cmpto=LON:MNR;LON:QED;LON:OTE;LON:SGRO;LON:BLND&cmptzos=3600;3600;3600;3600;3600&cmptdms=0;0;0;0;0&q=LON:WNER&ntsp=0 How soon will it recover? Again no idea but property prices have already started to move in the right direction. Undervalued? I think so. Hansteen must think so as well. I'm in via my ISA and have plenty time to wait. I looked at QED before they jumped up but was tide in elsewhere so missed it. I don't want to miss any more so getting in a few these. The future of Warner is in the hands of the banks and mabe we'll get some news at the AGM on Friday?
i have followed post here for only a feew weeks... am i right in saying this is a sleeping giant!! the sale of ashtenne industrial fund could mean an sp here of over £6? is there any links you can send me or any pointers of where i can start looking before i invest? do you know what caused the 2 year slide? and how soon can this share recover its price? surely this is now hugely undervalued? hope your willing to help. many thanks in advance margic
Anyone got any ideas of the i quote 'extraordinary AGM' next friday 18th?? Is it bank convenant details??
Hansteen (whose name is an anagram of Ashtenne) recently hired Mark Owens and an associate from Warner. Analysts said Watson and Jones are likely to attempt to buy back Ashtenne Industrial Fund, plus other Warner properties which used to belong to their old company, if the right terms can be struck. An outright bid for Warner is less likely, but cannot be ruled out.
buys today - lets see what next week brings - should tick up nicely to the 18th
43.5p to buy now
blue again today
Ashtenne Industrial Funds reaches £46m of sales 12:50 | 01.09.09 By Nick Duxbury Ashtenne Industrial Fund, has sold a unit in Kent, bringing its disposals to £46m since January. The fund, which is jointly managed by Aviva Investors and Warner Estate Holdings, sold the 33,000 sq ft Unit 24 Optima Park in Crayford to Carpenters Road Properties. It sold the property for £3.85m which equated to a net initial yield of 7.79% - a price it said was ahead of asking, having attracted 14 bids. The property is prelet to Matthew Clarke Wholesale and is secured until August 2022 at a base rent of £7.80/sq ft. The sale forms part of a wider programme that has been in effect since January and which has seen the fund complete over 20 disposals, raising close to £40m in the first six months to June 2009, and a further £6.47m in the last six weeks. James Nicholas, regional director at Warner Estate responsible for the Ashtenne Investment Fund South East portfolio, said: ‘While market conditions remain challenging, we have demonstrated through the sale of over 20 properties in key regional centres across the country that there is healthy demand for good quality industrial property that is well-located, well-let and competitively priced.’ ‘This has, on average, been achieved at a 4% discount to our December 2008 valuations - a narrow discount that clearly demonstrates the accuracy of our valuations. We view these sale disc
"We're very pleased with where we're sitting ... we've got a high income producing machine in Europe covering our overheads, and now we've got some firepower to do some raiding and trading on the UK front," Jones said.
Hansteen, which owns properties worth 498 million euros (436 million pounds) including in Germany, Belgium, and France, has 170 million pounds in cash to buy distressed portfolios and companies and 90 million pounds in a fund for individual assets. Coupled with 50 percent gearing, it is sitting on a warchest of about 520 million pounds, Jones said.
Jones, who started Ashtenne -- an anagram of Hansteen -- with business partner Ian Watson in 1989, said the investment market is now shifting in favour of the UK, after he spent the last four years buying properties in continental Europe. "The pendulum has now swung right back to the UK, and we think it represents the best value opportunities," he said, adding yields in the UK can be as high as 10-12 percent, compared with about 8.75 percent in the rest of Europe.
specialist last month took a stake in struggling Warner Estate (WNER.L: Quote, Profile, Research), its first major investment in the UK since 2005 when it exited the market after selling the Ashtenne Industrial Fund to Warner. The firm's Joint CEO, Morgan Jones, declined to say if Hansteen (HSTN.L: Quote, Profile, Research) was planning an offer for Warner or its Ashtenne portfolio, citing takeover rules. Jones, however, said he was interested in Ashtenne's UK assets, worth about 700 million pounds. "A large part of Warner's assets are Ashtenne assets that we know, and a large number of the staff are Ashtenne people that we know ... so we like the property and we like the people," Jones told Reuters in an interview.
next week
buys today
http://uk.reuters.com/article/idUKTRE5861UZ20090907 LONDON (Reuters) - European property investor Hansteen (HSTN.L) is targeting corporate takeovers and direct industrial property buys in the UK, where it now sees "unprecedented" value, its chief executive said on Monday.
http://www.advfn.com/p.php?pid=nmona&cb=1250371832&article=39049083&symbol=L^WNER
Did you ever get in?
In at 25 also. In for the long term but counting my virtual profit already ;¬P
I would reckon now would be th time to get in. I'm in @ 25p Friday. Major overreaction to the latest results but as it becoming apparent the worst is behind us. I expect this company to get their debt restructured and come out strong next year.
Seems to me u guys have been in for a while, what do uguys reckon about the shares in maybe 6 months down the line? I know its dropping but how low can it go in an improving economy. Waiting to get in, waiting for the right time.
see this hitting 15p