TRAF27 Jun 2015 17:01
The planning process generally is a case of probing to seek and iron out the objections. ie keep trying till they (the planners) have no more to argue. It usually takes more than one attempt. They may re-submit. Its also somtimes a war of attrition, as councils have limited funds and simply give in due to the legal costs of defending a case.
This was not a make or break deal (refusal was already priced in) and the land is on option to traf (so no money tied up or lost).
They have a hefty work load ahead, almost equivilent to the kent site and have just completed a substantial site, all units sold. Sheerness looks a VERY lucrative prospect. So profit should be pretty good going forward.
I think there was talk of a massive new development/new town in kent or near TRAFs area of operation, so they might get a piece of the action there too.
Their a housebuilder ffs in the middle of a housing boom, so they might just pull another major plot out of the bag by extending their geographic reach.
At this price your buying in well below ipo/rto level, with better prospects going forward. Another one to get in ahead of the crowd (look at formation FRM up over 200%).