Barratt Developments Share Price (BDEV)

Yes , it was in by lunchtime

Hi,

Has anyone had the dividend payment today?

Thanks

Date: Monday 13 May 2024

LONDON (ShareCast) - (Sharecast News) - UK supermarket group Asda on Monday revealed plans to redevelop a 10-acre site in North West London, hoping to create a new town centre that includes 1,500 new homes.

The grocer said it is partnering with develop Barratt Developments to redevelop the brownfield site, currently home to its Park Royal Superstore in the Borough of Ealing.

The proposal, which is subject to planning approval, will see Asda build a new 60,000 square foot superstore and car park, in addition to 1,500 new homes - 500 of which will be affordable - "creating a new town centre for the local community".

The mixed-use redevelopment of an established store site is a first for Asda and follows moves by a number of other retailers to get into the house-building game, such as Sainsbury's which submitted plans in October to deliver 2,519 new homes alongside a new 1,300 sq ft store near Ladbroke Grove.

While there was no financial information given, Asda said in a statement that the plans represent "one of the largest land deals of the last couple of years".

Ian Lawrence, head of mixed-use developments at Asda, said Asda's foray into mixed-use redevelopment marks a "significant milestone for the business".

"By working with leading developers like Barratt London, we are able to maximise the full potential of our property portfolio for the first time."

Lawrence added that Asda is "also unlocking further opportunities to release value from our extensive property portfolio, which can be reinvested back into the business to fund other initiatives".

gla

Took some profits with one of my miners yesterday ........ buying back into BDEV.

Sold before the Redrow deal was announce 562p.

gla

"So as the resolution was passed yesterday does that now mean we all get 1.44 shares for each one we hold ?"

..........................

Willy,

Not quite yet, the Fat Lady still has to sing...

The Fat Lady in this instance in officialdom...

If you check out the Barratt circular in the RMS dated 19th April, the timetable allows for (hoped for) approval of the deal happening during the second half of this year...

Until such time, this is an aspiration ~ albeit maybe a likely one, though it would be above my paygrade to have a view on that ~ rather than a done deal...

Which is why, at the time of writing, Barratt's share price is i515.2p, so 1.44 x that is 741.89p, yet Redrow's share price is only 728.5p.

So, the gap ~ between 741.89p and 728.5p being 13.39p, or 1.8% of the 1.44 rating ~ will reflect any market twitchiness about the deal maybe, just maybe, not going through....?

If you happen to be drinking buddies with the Captain (Hindsight) ~ which sadly I ain't ~ then you would surely have an opportunity to make an extra bob or two...?

Because if he told you that the deal would go through, you'd get the benefit of the inevitable relative price hike (relative between Barratt and Redrow, that is, there's no absolute here) by being invested in Redrow shares, and if he told you it would fail, you could sell Redrow and then re-buy once the result was announced and Redrow's share price (almost inevitably) fell back again....

In relative terms, of course... :-)

Personally, I was very fortunate to be 100% invested in Redrow at the time of the offer (I don't get many of those right) and I sold the same day , got a result, and don't wish to overly push my luck...

Anyway, hope that helps..?

Strictly