Cardiff Property Share News (CDFF)

LONDON (Dow Jones)--Cardiff Property PLC (CDFF.LN) said Tuesday that no material property transactions have taken place since April 29 adding that the Group, including Campmoss, has adequate resources to carry out projects currently in progress. MAIN FACTS: -There have been no significant changes in the financial position of the Company since the publication of the results for the half year ending March 31. -Thames Valley Commercial Property market continues to suffer from low levels of occupier demand; New lettings are being agreed and agents report a reasonable level of enquiries but actual take up of new and second hand commercial space is insufficient to suggest any recovery in demand or rental levels. -New speculative commercial property development in the Thames Valley has virtually ceased; The majority of new office buildings completed over the past 12-18 months remain vacant. -The last quarter of 2009 and first half of 2010 saw some recovery in commercial property capital values but any further increase in capital values is unlikely. -Commercial property continues to have its investment attractions providing adequate security of income is achievable. -Residential values in Surrey and Berkshire have maintained their marginal increase since the beginning of the year; Number of enquiries and viewings remain at a reasonable level but purchasers and investors still remain cautious. -Group, including Campmoss Property, the 47.62% jointly controlled entity, continues to pursue new and revised planning permissions. -In the current environment, even with planning permission, the group is unlikely to proceed with any new development unless a pre-letting has been secured. The main emphasis will be towards managing the existing portfolio and maintaining the level of gross rental income. -Thames Valley commercial and residential property market continues to suffer from a lack of activity; In the current economic and fiscal climate capital values and rental levels are not expected to improve. -Shares closed Monday at 750 pence valuing the company at GBP10.04 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com (END) Dow Jones Newswires July 27, 2010 02:46 ET (06:46 GMT)