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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Comm. Prop. (SEE LSE:CGA) | CMGP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 18.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 18.50 | 18.50 |
| Top Posts |
|---|
Posted at 17/12/2007 08:37 by asparks From The TimesDecember 15, 2007 Fidelity manager puts faith in property stocks as he says share values will build James Rossiter Anthony Bolton, the veteran fund manager at Fidelity International, is calling the bottom for property stocks and considering buying battered-down shares in housebuilders and retail companies. Speaking to investors yesterday at the annual meeting of his £400 million Fidelity Special Values fund, Mr Bolton said that he had bought into a number of well-known UK property stocks in recent weeks. News of Mr Bolton's strategy came as a report revealed that prices of commercial property buildings had suffered a record one-month fall in November, twice as steep as the worst monthly price declines felt in 1990, at the depth of the last commercial property recession. Values of commercial buildings fell 4 per cent in November, bringing the three-month decline to 7.25 per cent, according to the Investment Property Databank (IPD). If price falls continue at the same rate then the value of offices, shops and warehouses could be 29 per cent down in mid2008 from their peak last summer. The share prices of Britain's six largest quoted property groups - British Land, Land Securities, Hammerson, Liberty International, Segro and Brixton have fallen on average by 45 per cent since January. Mr Bolton steps down from running both the Special Values Fund and Fidelity's flagship £3.2 billion Special Situations Fund at the end of the month. He has run Special Situations since 1979, producing annualised returns of 20 per cent a year. Mr Bolton held a large weighting in property until earlier this year. British Land and Land Securities have been favoured investments. "Now with share prices falling, I've started to add back into this area," Mr Bolton told investors yesterday. The sharp decline in quoted property stocks reflects fears that companies' underlying building assets were overvalued. This summer's credit crunch prompted the sudden withdrawal of the large numbers of leveraged buyers who had been propping up the investor market for the past two years. Their sudden absence caused investor demand to slump and capital values to fall, even though the rental market across offices, retail and industrial has held up. But price falls of individual assets, even after the release of yesterday's IPD figures, are still far shallower than the declines marked down on property stocks, many of which have halved this year. This discrepancy has presented a buying opportunity for Mr Bolton and the Fidelity funds he runs. Mr Bolton added: "It discounts a big drop in property values, and in some areas it overdiscounts that." Housebuilding stocks, meanwhile, have on average lost 50 per cent from peaks hit between February and April this year, reflecting fears that the housing market is set to crash. While house price inflation has ground to a halt and sales volumes for the big firms have fallen between 10 per cent and 17 per cent since October, there are no signs yet that housebuilders have cut asking prices. Property stocks are trading at discounts of 30 per cent to 50 per cent of their latest net asset per share valuations (NAV) a core way of measuring the underlying worth of a property stock. Property companies are expected to write down their NAVs by up to 10 per cent over the coming months, reflecting the falls recorded by IPD. Housebuilders were trading at the start of the year on multiples of between 1.5 and 2 times their NAV but are now trading near par. Barratt Developments bought Wilson Bowden in February for £2.2 billion, equivalent to 1.9 times NAV, including goodwill and valuing the enlarged group at £4.8 billion. Today Barratt has a market value of only £1.67 billion and this week fell out of the FTSE 100 index. |
Posted at 10/12/2007 08:39 by asparks GSANDS "Land does not generate income" Well, you simply dont understand the market then. Wait and see what the share price will be when development of Manston is approved . DOnt think those listed below would agree with you either: Omega Properties Limited 6,061,039 33.67% Blenheim Limited 6,061,039 33.67% Heritage Property Limited 1,550,723 8.62% Eco Friendly Developments Limited 995,800 5.53% David Pearl 500,000 2.78% Richdata Associates Limited 500,000 2.78% Dungarvan Associates Inc., 500,000 2.78% Principal Corporate Investor Limited 500,000 2.78% Rufus Pearl 362,524 2.01% Andrew Hunt 353,896 1.97% The Land and Equity Pension Fund 293,843 1.63% Andrew Halstead 214,092 1.19% PRC 107,044 0.59% Laxey Partners Limited 3,921,343 18.67% |
Posted at 23/7/2007 13:12 by kgab2268 Nothing much, just some profit taking which prompted more profit taking from small private investors. Things cannot always be expected to go up in a straight line, and it was high time for a breather. |
Posted at 19/7/2007 17:29 by kgab2268 Nothing much, just some profit taking which prompted more profit taking from small private investors. Things cannot always be expected to go up in a straight line, and it was high time for a breather. |
Posted at 12/7/2007 09:53 by andrbea From May 28Almost 27 years after the last cotton mill closed its doors in the northern industrial town, synonymous with George Orwell's The Road To Wigan Pier, Chinese investors are proposing a new manufacturing hub for cotton. Chinamex, a state-owned body which helps Chinese companies expand overseas, has agreed with a property developer and Wigan borough council to develop a brownfield site at Westwood Park on the edge of the town. The Textiles City project is being viewed by Chinamex as an opportunity to create a manufacturing capability closer to European customers. According to those close to the project, Chinamex has agreed to take on up to 2m sq ft, about half of which will be used for textiles manufacturing. The remaining space will be used for research and development and as a showcase to demonstrate China's manufacturing. |
Posted at 04/7/2007 12:26 by golikethewind Just having quick look while having lunch. It don't half motor when it moves. Pleased to say i been in for a while. Shame no other private investors has not cottoned on yet.Hardly any trades during the day, but those do do go throu seem to move it well. If only there were more trading with this one, it will go mental. |
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