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It has become the fourth purchase in the capital by the JV between Lacuna Developments and Watkin Jones. The site is set behind the Ulster University Belfast campus, which is due to complete its final phase of renovation by 2019. It is also adjacent to St Anne's Square, a leisure-led mixed-use scheme which contains a Ramada Encore hotel, Pure Gym and a variety of restaurants and cafés. Anthony Best, managing director at Lacuna Developments, said: "The joint venture has now committed to more than £85m worth of end development in Belfast since February 2015. "This latest site acquisition shows our commitment to Belfast. We look forward to working again with Belfast City Council to deliver this end development." David Wright, director at CBRE, believes the deal presents a "great opportunity for Belfast". hxxps://www.insidermedia.com/insider/ireland/cathedral-quarter-scheme-acquired
Lacuna and Watkin Jones snap up Belfast site 30 January 2017 | By Helen Crane Lacuna Developments and Watkin Jones have acquired a former office block in Belfast city centre as part of a wider £85m regeneration scheme. http://www.propertyweek.com/news/lacuna-and-watkin-jones-snap-up-belfast-site/5087482.article
Questor: don’t be put off by the Aim listing – this family firm has no debt and a yield of 4.8pc http://www.telegraph.co.uk/investing/shares/questordont-put-aim-listing-family-firm-has-no-debt-yield/
The message is mixed.......Wjg forward selling and starting to diversify the business will continue..imo https://www.timeshighereducation.com/news/overseas-student-enrolments-uk-universities-fall-again
Zeus Capital said: We note Watkin Jones’ announcement today confirming that the company has forward sold another two developments, in Cardiff and Belfast, to institutional investors. We leave forecasts unchanged but acknowledge that these further sales increase the visibility on earnings. We now assume c.65% of FY17 gross profit is derived from projects that have been forward sold. We continue to believe the shares are undervalued given the high levels of earnings visibility that the forward sales model generates, the low leverage risk with in excess of £30m of net cash and the structural growth in both Purpose Built Student Accommodation (PBSA) and the Private Rented Sector (PRS). On FY16 earnings, which the company confirmed are in line in its recent trading update (17th November), the shares trade on 9.6x. This falls to just 8.7x in FY17 with c.65% visibility after just two months of the financial year. We would hope that almost all of FY17 earnings will have been forward sold by the half year end mirroring the experience in FY16. The prospective yield of 5.3%, twice covered by earnings and underpinned by a strong balance sheet, remains attractive. * Successful forward sale of two developments: The two forward sold developments announced this morning in Cardiff and Belfast total a combined 812 beds. Both are due for completion in FY18 ahead of the 2018/19 academic year. The Cardiff development is a 472 bed scheme located in a prominent location in Cardiff City Centre, close to Cardiff Queen Street Station. The Belfast development is located in Belfast City Centre directly opposite John Bell House that was completed by Watkin Jones this year. The development is for 340 beds. * Continued execution of the strategy underpins forecast certainty: At the time of the IPO (March 23rd), forecasts assumed c.55% of gross profit in FY17 was derived from forward sold projects. The successful forward sale of the Cardiff and Belfast developments announced today combined with the announcement (4th October) of the forward sale of the St. Mungo development in Glasgow increases the percentage of forecast FY17 gross profit from forward sold projects to c.65% after just two months of the new financial year. We expect further announcements over the coming weeks and hope that by the half year end in March a high proportion (+90%) of FY17 gross profit will be derived from forward sold projects. This will have the benefit of materially increasing forecast visibility into FY18 and beyond. * Valuation not reflective of forecast certainty: The shares trade on an attractive PER of just 9.6x falling to 8.7x in FY17 and offering a prospective 5.3% yield on a balance sheet with estimated net cash of over £30m. We expect the shares to re-rate as the company creates a track record of delivering on forecasts. A 12x PER multiple on FY17 earnings would equate to c. 160p, offering c.34% upside.
01 December 2016 For immediate release 1 December 2016 Watkin Jones plc ('Watkin Jones' or the 'Group') Cardiff and Belfast developments forward sold Watkin Jones plc (AIM:WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector, announces today that it has forward sold another two of its developments to two institutional investors, both for undisclosed fees. The first development is situated on Bridge Street in Cardiff and the other is situated on Queen Street in Belfast. The Cardiff development occupies a prominent position in Cardiff City Centre, and is located close to Cardiff Queen Street station. The 472 bed scheme is due for delivery in August 2018, ahead of the 2018-19 academic year. The Belfast development also occupies a prominent position in Belfast City Centre directly opposite John Bell House that was completed by Watkin Jones in August this year. This 340 bed scheme is also due for delivery in August 2018, ahead of the 2018-19 academic year. Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: "We are delighted to announce today that we have forward sold our developments in Cardiff and Belfast to two institutional investors in purpose built student accommodation, which further underpins the visibility of our earnings and cashflow. The interest in the sector remains strong."
Sheffield city centre flats block approved despite university's concerns Read more at: hxxp://www.thestar.co.uk/business/sheffield-city-centre-flats-block-approved-despite-university-s-concerns-1-8259662
hxxp://www.chesterchronicle.co.uk/news/chester-cheshire-news/chester-student-block-dubbed-oversized-12057383 Chester student block dubbed 'oversized, brutal and ugly' gets permission 19:00, 21 OCT 2016 BY DAVID HOLMES Appeal inspector overturns decision of elected councillors to allow six-storey building in city centre 2 SHARES 4 COMMENTS An artist's impression of what the proposed 77-bed student block will look like off Hunter Street as seen from the ring road A planning inspector rejected the views of councillors, residents and a heritage watchdog by allowing a six-storey student block described as ‘monstrous’. In April, Cheshire West and Chester Council’s planning committee voted down the 77-bed managed complex on Hunter Street car park in the city centre. Members concluded its design, scale and massing meant it was out of step with the neighbourhood and conservation area. But inspector Jonathan Manning allowed Watkin Jones’ appeal disregarding objections by council leader Samantha Dixon, more than 60 residents and comments by Chester Civic Trust, who dubbed the building ‘oversized, brutal and ugly’. READ MORE Chester city centre student housing scheme kicked into touch An artist's impression of what the proposed 77-bed student block will look like off Hunter Street He instead agreed with Historic England and the council’s planning department who had recommended the scheme be approved. The appeal site was currently an ‘unattractive’ car park, he said, while acknowledging the sensitive location to the rear of historic properties in King Street. Regarding a controversial six-storey tower feature, he said: “Whilst the feature tower would be visible on the skyline, I am of the view that it would add visual interest to the corner when viewed from the street scene and also to the townscape when viewed from the wider area.” But Labour council leader and ward member Samantha Dixon (Chester City) told the planning committee on decision day: “Ask yourselves, is this the listed building of the future? No, it isn’t. It isn’t needed. It isn’t wanted and it isn’t good enough.” READ MORE Chester student housing schemes take shape across the city CWaC leader Cllr Samantha DixonCWaC leader Cllr Samantha Dixon Opponent Faye Mustill, chairman of King Street Residents Association, recognised the plans had been modified to make the building more ‘visually acceptable’, but commented: “That said, residents are diametrically opposed to student accommodation as evidenced by the 60 letters of objection.” Committee member Cllr Jill Houlbrook (Con, Upton) argued: “We’ve got the wonderful theatre being developed just up the road and now we are going to put what to me looks like a monstrous concrete-brick block just further down the road from it.” The H
Watkin Jones Plc Forward sale confirms operating model and increases forecast visibility Posted by: giles.arbor 4th October 2016 Watkin Jones Plc (LON:WJG) has announced that it has forward sold its development in St. Mungo Avenue, Glasgow to a new institutional investor. This fits with the company’s strategy and the fact that it is a new investor highlights the on-going attractiveness of the WJ model and the UK student accommodation market. Whilst the sale does not change forecasts, the development was already included in estimates, it does increase the certainty of earnings across the forecast period as it moves from a secured site to being forward sold, effectively locking in the economics. Future forward sale announcements combined with new secured sites will further increase investor confidence in the Watkin Jones model and lead to multiple expansion from the current year PER of 9.9x. In addition, the shares yield a prospective c.5.1% on the FY17 dividend estimate of 6.3p, twice covered by earnings on a balance sheet with c. £36.0m of net cash. Executing strategy: This morning’s statement regarding the development at Mungo Avenue, Glasgow highlights the validity of the Watkin Jones business model and is the first forward sale announcement since listing (March 23rd). The development is a seven story 349 bed scheme consisting of 176 cluster rooms and 173 studios. At the time of the IPO forward sold sites were forecast to contribute c. 55% of the FY17 group gross profit estimate, this will increase on today’s announcement and improves the visibility on earnings across the forecast period. New investor indicates continued market confidence: Post Brexit, there had been concerns that the UK property market could be negatively impacted. The fact that St. Mungo Avenue has been sold to an institutional investor that Watkin Jones has not previously dealt with suggests the market remains sound and Student Accommodation remains an attractive asset class. It remains early days post the referendum but we find this encouraging. The nationality of the acquirer is not alluded to in the announcement and therefore cannot be assumed to be international, but generally the weakness of Sterling has helped increase the attractiveness of UK assets which includes student accommodation. Valuation not reflective of forecast certainty: The Watkin Jones plc share price has performed well recently rallying to 123p from the 100p IPO price. Despite this the shares continue to offer value trading on 9.9x FY16 earnings and offering a 5.1% prospective yield on a balance sheet with estimated net cash of c.£36m. A 12x PER multiple on FY17 earnings would equate to c. 160p, offering c.32% upside.
RNS Number : 5671L Watkin Jones plc 04 October 2016 For immediate release 4 October 2016 Watkin Jones plc ('Watkin Jones' or the 'Group') Forward Sale of St. Mungo Avenue, Glasgow Watkin Jones plc (AIM:WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector, announces today that it has forward sold its development in St. Mungo Avenue, Glasgow to a new institutional investor for an undisclosed fee. The St. Mungo Avenue development is a 1.07 acre site which occupies a prominent position at the corner of St. Mungo Avenue and St. James Road to the east of Glasgow City centre and in close proximity to the University of Strathclyde, Glasgow Caledonian University and the City of Glasgow College. The seven storey 349 bed scheme (176 cluster bedrooms and 173 studios) is due for delivery in August 2018, ahead of the 2018-19 academic year. Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: "We are delighted to announce today that we have forward sold to a new institutional investor our St. Mungo's scheme in Glasgow. With three main universities in Glasgow servicing more than 65,000 higher education students there is significant demand for accommodation within the City. The demand for purpose built student accommodation is higher than levels seen at comparable UK university cities, and we are delighted to be developing in Glasgow. "The scheme will be developed to a high specification including excellent shared space and amenities including a cinema room, two common room areas, gym and roof terrace. Glasgow ranks amongst the top ten UK university towns and on completion of St. Mungo Avenue, Watkin Jones will have delivered over 3,000 beds across six schemes in Glasgow since 2011."
Tweeted today by GreenACORN........more and more to come..... @acorn_green: Great news the first 40kwhr @REDT_Energy been delivered to Wokingham, ours is next for , keep them rolling @Scott__McGregor
http://www.european-utility-week.com/exhibitorlist#section-R
http://www.westminsterforumprojects.co.uk/forums/event.php?eid=1132
Camco Clean Energy Could Get Boost From UK's Energy Africa Campaign Tue, 20th Oct 2015 12:22 LONDON (Alliance News) - The UK government Tuesday announced plans to launch a campaign aimed at assisting Africa improve its access to energy and electricity with a focus on renewable, off-grid power. The campaign, which will be officially launched on Thursday, will be a boost to some London-listed companies including Camco Clean Energy PLC, which is developing technology that fits with the UK government's Energy Africa campaign. The UK government, through the Department for International Development, is hoping to achieve "universal energy access" in the continent by 2030 with the hope it will alleviate poverty, bring down the cost of energy, and spur more broad economic growth in the region. "Two out of three people living in Africa do not have electricity in their homes. If we continue on the current trajectory, it will take until 2080 for there to be universal electricity access on the continent. Another generation of young people will miss the opportunity to help themselves out of poverty through the transformation that access to electricity in the home can bring," said the government. "A reliable electricity supply is one of the most powerful tools for lifting people out of poverty and ending dependency on aid," it added. Energy is a huge problem across Africa, despite being rich in oil and gas resources. Over 600.0 million people in sub-Saharan Africa have no access to electricity, representing 70% of the population whilst around half of all businesses in the region view the lack of electricity access as a "major constraint" to doing business, according to the UK government. Sub-Saharan Africa refers to the nations that lie below the Sahara desert, comprised of over 20 nations including South Africa, Nigeria, the Democratic Republic of Congo, Senegal, Tanzania, Ethiopia and Kenya. The problem is so wide spread that sub-Saharan Africa loses around 1.0% to 2.0% of its gross domestic product per year because of it. The lack of access also means that some pay up to 80 times more for their electricity compared to UK households. The goals of the Energy Africa campaign is to give the continent access to "affordable, reliable, sustainable and modern energy" by 2030. One of the key problems with providing continent-wide access is the fact it does not have a traditional grid system like those found in Europe and other more developed regions of the world, leaving millions of people isolated. "Reaching the more than 600 million people with no electricity in Africa with traditional grid systems will be a lengthy effort. Vast rural areas will have no realistic chance of being connected for decades," said the government. The key energy source the UK government wants to harness for Africa is solar power, focused on off-grid systems. It believes the "time is ri
looks like the RTO is gathering some interest...where are we heading.....
19-Aug-1513:59:095.95 436,747Buy* 25.99k
www.dailymail.co.uk/money/investing/article-3124769/SMALL-CAP-SHARE-TIPS-Camco-Clean-Energy-transition-aims-world-leader-large-scale-energy-storage.html
another large buy gone through on isdx