Town Centre Share Discussion Threads

[linhur] 03/8/2022 11:32

The other problem to TOWN is that the 30 year £100m Debenture maturity in 2031 is hovering into view. This may cause problems in a couple of years on raising funds.

As long as Edward Ziff keeps running the business I will be happy. Now the car parks business is being sold £20 mill return on £1mill invested is not a bad return. Ben Ziff (son) will have to find another job. He is more a IT nerd than a property man.

Trouble with Town Centre is the dividend is so low as Edward likes to reinvest in new properties.

regards
Linhur

[bouleversee] 03/8/2022 10:47

Many thanks. I do have the form.

Bouleversee

[linhur] 03/8/2022 10:26

Boul

If nominee account contact them eg HL Youinvest etc. They should send you form to allocate your shares.

If certificates you should have form to complete
Offer closes 8 August.


Town have had little response to buyback offer
185p too low but NAV at 305p looks far too high. This year share price has been between 130p and 160p. They have potential of 600p of developments but I guess not in current market difficult to raise funds.

Good to see FSJ bottoming out. iT will be couple of years to see if it will succeed.

Regards
Linhur

[bouleversee] 01/8/2022 15:34

There is now a Tender Offer at 185p, which has caused a recent price rise to 176.25p. I was hoping to see some views on this here but I guess I must be the only one still holding. Bought at 334.5p in Jan. '05 so not overly tempted to accept at this price.
Any views on their prospects?

(Do I automatically get notified of any responses on here?

[jonwig] 25/2/2016 17:32

Town Centre Securities PLC, the Leeds based property investor and car park operator, announces that its Tradable Instrument Display Mnemonic ("TIDM") will be changed to TOWN (from TCSC) with effect from 0800hrs tomorrow, Friday 26 February 2016.

OK, I'll start a new thread then. But why bother? Seems trivial to me.

Here it is:

[inki] 24/2/2016 11:30

jonwig
The £16m net spend appears to be part of the refurbishment incorporating a long term lease with Leeds Council for offices within the Merrion Centre.
The 'Centre' has been undergoing a modernising process, hence enabling a fairly consistant occupancy. Leeds has become a vibrant city, and even if everybody considers it expensive, so is any city with the level of infrastructure and variety that exists there.
The number of deals that TCSC is undertaking indicates that there should not be stagnation, even if the dividend remains moderate.

[jonwig] 24/2/2016 08:34

inki - is that the Merrion Centre redevelopment? It adds £5m to net assets, so about £10m to gross, but debt has grown by £6m in the six months. Somewhere in there will be a reconciliation of the numbers.

I wonder, as well, whether the old Merrion Centre would have become a depreciating asset without this refurbishment? There's some brilliant modern stuff in Leeds (Land Secs Trinity, etc.) and they need to keep up.

Is the "Northern Powerhouse" an idle Tory dream? Even if it is, Leeds and Manchester will surely take space from London, which everybody agrees (except rich Arabs, maybe) is obscenely expensive.

I see they're continuing their pleasant habit of hanging on to the dividend payment for as long as possible! (3 months.)

[manrobert] 24/2/2016 07:20

well good steady results from this steady performer.cant see any reason for yesterdays hick uo near the close.

[inki] 23/2/2016 23:30

This is an illiquid stock, substantially held by directors and institutions. A modest 15k share sale moved the price.

[jonwig] 23/2/2016 18:25

The true spread's been wide today. Closing price is last trade.

H1 results tomorrow. Significant? Though I don't think they are a leaky company.

[castleford tiger] 23/2/2016 18:06

what happened there? 10% fall late pm??

tiger

[manrobert] 18/2/2016 10:39

I see buyers steaming in this morning.lol.

[castleford tiger] 16/2/2016 13:22

I agree very cheap

tiger

[manrobert] 16/2/2016 12:59

managed a few at 303p.happy entry point.

[castleford tiger] 26/1/2016 18:14

easy 10% for new buyers.

tiger

[castleford tiger] 18/9/2015 08:39

I see NAV at 400p this time next year so a further 30% fair value uplift in share price.
plus 3% yield means I bought more yesterday.

Several properties are due re valuation and Leeds is very strong.
Cost of money falling as well as they state.

I like it.
tiger

[jonwig] 17/9/2015 10:44

Agreed. No news to suggest a rerating but a soliid hold for me.

[inki] 17/9/2015 08:26

Steady progress - shown in the increase in net assets - albeit the profit is reduced by investing for the future.

[jaws6] 17/9/2015 08:24

NAV higher , buy note out with 365 target

[castleford tiger] 09/4/2015 09:03

Town Centre Securities (TCS) has entered into a ten-year lease with Yorkshire butcher Crawshaws Butchers, to secure the opening of its 24th store at the Merrion Centre.

The latest venture will see Crawshaws Butcher open its first Leeds city centre shop unit and recruit 12 to 15 staff members over the next few weeks.

Crawshaws' opening is the first step in the group's plans to grow its portfolio to 200 stores over the next eight years. The new 962 sq ft store will receive a full refurbishment before opening its doors mid-May.

Kevin Boyd, managing director of Crawshaws Butchers, said: "We can't wait to open the doors of our new Merrion Centre shop.

"After a three year wait I've finally got the site that I've been looking for. It's a fantastic centre with great footfall and it's a really up and coming area – the Arena Quarter is growing all of the time and we’re excited to be part of it."

The Merrion Centre also welcomed the new Taiwanese bubble-tea shop, Bubble Bubble, at the end of March, which has recruited two full-time members of staff and has room for three additional part-time recruits over the six-month lease.

Bubble Bubble's opening follows a £10,000 investment into the store located in the mini market.

Helen Green, associate director for TCS, said: "The centre is evolving and changing, as highlighted by the recent car park redevelopment and the Merrion Centre's Arena Leisure offering, but it is still ensuring that it keeps its core customers and offers value."

[castleford tiger] 08/4/2015 11:54

headed fast to predicted NAV 342p

Much further to run as the MC development kicks in and increases rent roll.

I am holding tight.
Tiger

[jonwig] 06/4/2015 07:27

Thanks Jeff, excellent!

London property overvalued in some eyes, hence the added attraction here.

[jeff h] 05/4/2015 22:32

LEEDS based property investment fund Town Centre Securities [LON:TCSC] has expanded its portfolio and secured key tenants making its shares a good long term investment.

The company said last week that it spent £4.48m on new warehouses with secured tenants that provide a net initial yield of 7.25pc. In a low interest environment that kind of return is attractive.

The company has also recently renewed a contract until 2040 with its anchor tenant Morrisons’ at its biggest property holding the Merrion Centre in Leeds city centre. Morrisons’ will be investing to refurbish and expand the existing store on the the site.

The early refurbishment works have also started on Merrion House after Leeds City Council signed a 25 year lease for office space.

Pre-tax profits increased to £13.3m for the six months ended December 31, from £12.3m in the comparable period.

The net assets per share increased to 326p at the end of last year, leaving the shares trading at a 6pc discount.

Town Centre Securities property portfolio is split, with 58pc in Leeds, 24pc in Glasgow and Edinburgh, and 16pc in Manchester. The company also has a small presence in London.

The company offers a prospective dividend yield of 3.4pc. Questor recommended buying the shares (232.5p, February 13, 2013) and they have risen 32pc since then, the advice remains. Buy.

[castleford tiger] 07/3/2015 10:58

hxxp://tcs-plc.co.uk/news/view/72/prime-multi-let-industrial-acquisition-

looks a good buy.

tiger