Member Info for Ephemeral

Is the next ‘expected’ news event. I am unclear as to the cause for continual delay. Is this now a Q1-22 event? Feel as if ‘21 window is now closed. If it is a ‘no’ it’s taken an awfully awfully long time.

And anyone got an update on Dublin? Tah.

We have a new target committee date 14-01-22 and updated with ‘conditional approval’ so that’s likely the Officer recommendation. Members (Councillors) make the decision. https://planning.leicester.gov.uk/Planning/Display/20210461

Agree. If it can transact at passable £ it also has the benefit of reducing operations for focus on repurposing at Leicester, advancing Dublin, enormous scheme at BX London. I’m pleased with how Exec team are reorienting. Feel we’ll get some tough market headwinds , hopefully ride them out and then well positioned.

What was rational for 80-100 : that’s above NAV.
I’m invested. Rationale : believe in Exec team // expect value to be unlocked from city centre pivot from retail to mixed use (inc residential). Risk : can they keep convenants in place for long enough to enact turn around.

Application ref is : 20210461. Whilst target is tomorrow no committee date is set and the committee is not meeting tomorrow. This is fairly normal for big applications. Officers will be focusing on process to prevent challenge by Applicant / Objector. Feels like an October date.

That’s good news. Updated date often means planning officers are targeting a committee date. I.e. all will be in order to make a determination (should committee wish to). Doesn’t indicate +ve / -ve but does mean things are moving. I’m hoping for a +ve on this and in Dublin with a revaluation of said assets to follow.

Planning moving at normal pace (it takes time) no date on the Leicestershire Planning Committee yet : can’t see it before September. Of more import is Dublin - a consent and revaluation there in Q4 helpful. I’m invested as a development play (not retail revenue). I would like an update on BX too.

Thoughts on results in Aug. Think nothing spectacular. But my play is retail to resi / mixed use and book value uplift. All quite fuzzy at mo. But better *must* be on way (famous last words).

2 planning committees (a) Dublin (b) Debenhams, Leicester over July/Aug. Hope for consent. Good for locales and HMSO. Expect these to reflect in SP if +VE. Though don’t have handle as to how market will interpret. Any thoughts or precedents on this board?

Application says target decision date is 08/08/2021.
Ref : 20210461

Not on 23rd June Agenda… so may come to committee 14th July or early August.

Keen on Morrison’s as is. I like shopping there. Good dividend. I guess key here is if Amazon come in with a bonza bid for their own distribution strategy ie at +300p - then one has to accept the ‘market’ so to speak

It’s not gone to committee yet. I was hunting for it last week. Looks like last committee was cancelled - so maybe going in a week or two. I will update. If it is consented it’s a big +ve sign for me >> even if ‘market’ doesn’t pick it up. I’d support a simple ‘flipping’ of the consented scheme to A.N.Other for £££ in. Also ok to watch it build out.

I would the very act of mobilising and actions taken by some with emails etc. Has had an effect >> in that this ‘September’ event is planned and frankly the Chair had to respond and take it seriously. I do wonder where we ended up and how many were discounted on technicalities.
Well done Glenrothes

SP kinda dead at the moment. Any thoughts as to why? Guess no recent company news. But thought there'd be a few banks doing the numbers on this. Meaning upon conclusions it would either move up (invested) or down (shorted). Kinda still. Bit of a ramble >> any thoughts?

@steve - last para bang on. If assets can be repositioned as such it warrants a change in valuation (for use of land has changed). Appears with new Development hire this is direction being pursued. I would be keen to Hammersons to be more like an Argent at KX and gear up their estates particularly Brent Cross as all purpose destinations. I’m backing new Exec team. I guess risks are retailers paying rent (tho Hammersons offered rent reduction early... liquidity (tho recent bonds help). You can actually see the risk mitigation by recent actions...so whilst I do check most days ... I’m less concerned about Hammersons than other stocks...leave it alone, give it some time.

Is there a date for the planning Committee? Anyone have the application reference to hand? Else I’ll do some digging. If consented there is a level of read across to other such sites which gives Hammersons options to repeat similar else where

As expected. Not in control. Hoping for an award (though to be fair work done). And hoping Navitas and Harbour play ball (they have no urgency). Let’s wait for ‘award’

Unlikely now... but not far off I think. Will be interesting to read the commentary around the next H1 trading update >> 20th May 21 >> not far now