Member Info for shadowchild

ex-donaldson tie in is 3 years, not 2.

DTZ has been awarded a prestigious assignment to act for Facebook to acquire space in Dublin for its new European Headquarters.

Something very wrong about "dtztenant". First of all, a tenant posting on a share trading site, and then seemingly not understanding when payment is due, how it is to be paid, or the agents role in management and rent collection. Posts reported.

That prospectus makes pretty grim reading, and doesn't tell us anthing we don't already know; £40-55mil rights issue, with principle shareholder to take £30m + underwriting a further £5m.

SP up nearly 30% in one day? Am I missing something?

There are two ways to view todays news. (A) DTZ bailed out from the brink of administration. Or... (B) DTZ secure long term future through partnership with principle shareholder. Is the glass half full or half empty? For the avoidance of doubt, I have increased my holding on the back of today's announcement.

I've just bought 10,000 as well. Rumours are that the mid year trading statement due out shortly is going to dispel all the nay-sayers and whispers in the market.

@Spider - I completely agree. You ought to see what is happening to the DTZ sp!

@tech - thanks for the mail and linkies. There is a rumour going round that DTZ have just won a mahoosive Barclays instruction; vals, agency, L&T, Rating, on an international remit. Lips are pretty tight, so maybe it's not signed yet. Do you have any info?

@techpunk - interesting post. What is your opinion of the drivers behind the collapse in SP?

@ Azzuri - mate you have no idea. I've been buying this since it was £3 last Oct, and similar in Mapeley, Savills, Colliers CRE, and Warner (more of a direct property play). If figured that DTZ's true SP level was around the £4 mark, given the high of £8+ and the solid income streams. I have taken a kicking! The current cap of sub £40m is ridiculous. That is is less than the turnover of the UK management arm! Nevermind, Vals, Rating, L&T, IM, or Agency. And this is the Group holding company. China, Japan, Hong Kong, India and the Middle East - all those operations continue to post record profit levels. Given the fixed assests at nearly £100m, I can see no reason for the SP decline... other than general investor confidence. I imagine alot of DTZ directors (and a lot of Donaldsons staff) hold a chunky amount, which makes an MBO less likely. The suggestion of an Atis takeover has been going around for the last 6 or 7 years, and I doubt there is anything in it. Of course, who would have the money to buy them, but at the same time, they do look ripe for a bid. Who knows!

Is the departure of the chairman driving this down? Very odd movemements today.

@ Reality - no, but the majority of my portfolio is across the real estate sector. Thus I read the trade press obssessively.

Bifta - the new offices are rent free fro two years plus a payment by the landlord of £2m as a contribution to fit out costs.

Anything further on those rumours? I hear the same, but with so little money in the market, who could? The capitalisation to £8.1m is insane considering recent highs. Maybe a MBO? Any views?

Very telling line in the interim statement: While we currently expect the full year to be weighted towards the second half, in light of weaker economic conditions we expect underlying profit before tax to be below the current range of analyst forecasts. Given how reliant Savills are on their transactional income stream, I wonder if this might be the time to call it quits and get out. Anyone have a view?

Big falls in the last couple of days, but all the trades are for reasonably chunky amounts. Is this the investor capitulation? Anyone have a view?

Hmmm - "mongyjohn" and "Realitycheck" both first time posters. I wonder if you're IP's would be the same by any chance. Regardless, both demonstrate factual inaccuracies. There have been redundancies across all of the global players: CBRE - http://www.propertyweek.com/story.asp?sectioncode=297&storycode=3124047 JLL, Cushmans, King Sturge - http://www.propertyweek.com/story.asp?sectioncode=36&storycode=3122891 Cluttons, Savills: http://www.propertyweek.com/story.asp?sectioncode=762&storycode=3122120 And in terms of new buisness wins - I can only assume my esteemed colleague has not done his research. New DTZ JV in Germany - http://www.propertyweek.com/story.asp?sectioncode=297&storycode=3124360 And let's not forget that DTZ have just - won a new three year CREM contract to manage to manage all 50 AIB buildings in the UK - won the retail warehousing instruction to provide joint agency, joint rent review and sole investment appraisal and planning advice on The Fort Shopping Park Birmingham. - the most active City disposal agent for 2007/08 according to FOCUS - the online property database. And in terms of reputation - errr, one of the top global four? I can find no press articles to slate, as I work in the sector, I cannot find anyone who compares them less favourably to their competitors. Guys, if you are going to short a stock, at least try and get your research right.

This buisness remains strong. Plenty of diversified income streams, and an excellent market reputation. The only thing that is driving the SP down is lack of confidence and that people think that this is a property holding company. IT IS NOT - is a global real estate consultancy. It doesn't matter how many clients go bust, the brinks and mortar still need managing, and the rent needs collecting. They are winning insolvency instructions left and right, and have just got the Dawnay Day instruction. STRONG BUY!

Couldn't disagree more with last post. DTZ have made no acquisitions in the last 12 months. India, Middle East, East Europe, Far East divisions all posted higher profits this year. Net assets are still £100m+, and they have enough diversification of income streams to ride this out. The only reason the profit dipped this year was because of a write back to the US operation, and a contingency for the UK. Given that their nearest competitor, Cushman & Wakefield posted a $67m LOSS, I'd say that £5m profit was doing well in the current market, and is in a good position when we exit the downturn to leapfrog to being world number 2 or even to take on CBRE. Their client base is still there, with all the big landlords and tenants still place. Their winning public contracts left and right. Investment Agency has suffered in this market, and the team downsized. I'd say it was horribly undervalued, considering it's £8.50 high of last year.