Delek Glbl Share Discussion Threads

[tiltonboy] 08/1/2014 17:26

Kenny,

If you were a betting man, where would you pitch the sale price we achieved?

[kenny] 08/1/2014 16:29

But at least it gives us some more information - "for a residential scheme of 245,000 sq ft" - not previously known what the sq ft was. So at least we may now be able to estimate the gross developed value at, say, £3,000 per sq ft, or more likely at something just over £2,000 per sq ft.

[grollfam] 08/1/2014 13:37

Yip, this is just an agreement to manage to development, hopefully completion will happen shortly...

[tiltonboy] 08/1/2014 13:05

Hopefully we will hear shortly following this news.

[tiltonboy] 03/1/2014 07:22

Been patient enough over the years, I suppose I can cope with another few weeks!

[grollfam] 03/1/2014 05:30

no details were provided...we will have to wait for an announcement later this month

[tiltonboy] 02/1/2014 18:11

Saves working out some complex scenarios on what it would be worth to us!

Did they give an indication on what it is worth to us, and if they are going to repatriate those funds?

[grollfam] 02/1/2014 16:42

spoke to the company recently.....

We(DGRE) have sold out completely and will be paid cash early January on completion.

So , hopefully we will cry all the way to the bank....

[tiltonboy] 02/1/2014 14:49

Hopefully not too long before we see details on the Palace Street/Buckingham Gate development.

It will be interesting to see what share of the development we are left with, and at what stage we depart.

in a buoyant London market, it will be interesting to see what prices the 78 flats will go up for!

[grollfam] 23/9/2013 12:59

k, I will translate from "the Marker"





British media are reporting : Northacre PLC company will invest £ 10 million luxury residential project in central London ■ Company will manage the property in the future and enjoy the management fees


Another process that promotes the nearby luxury buildings project Buckingham Palace in central London. British news websites reported that invests answer put a new project . Investor is a British Northacre PLC . The company reported last weekend data exchange graphs for the FTSE 100 London that has committed to invest £ 10 million in special-purpose Palace Revive Limited .

The company will invest in the property and is expected to complete the entry in January of 2014. The project , owned by Delek Global Real Estates ( DGRE ) and is controlled by Delek Real Estate , is expected to be built for several years. It will include residential , restaurant, parking , gym and other buildings .

Delek Real Estate recently received the permits required for the rezoning of property located in central London. Designation of the property, the former offices of the British Foreign Office , modified into a residential building .

Northacre gained during the past 20 years experience in designing , developing and marketing luxury residences in London worth over £ 1.5 billion . Additionally entry as an investor , it will also manage the property in the future and benefit from management . Project is expected to generate revenues at hundreds of millions of dollars. However, to complete it has required taking considerable debts . answer, for his part, would rather reduce the debt and get some of the future profits .

Answer announced last week that the sooner payments of $ 130 million to bond holders of Delek Real Estate . Despite this, and despite the improving economic condition of repentance, suffered Bank Leumi and Bank Mizrahi - TEFAHOT haircut of up to 60% of the investment in Delek Real Estate .

[tiltonboy] 23/9/2013 12:50

They were not particularly forthcoming, and said that they wouldnt even announce it!

If I was a betting man, I would suggest that DGRE may well be one of the investors in Palace Revive, and therein retaining an interest in the development.

I have scoured the press for comment, but found nothing of any note.

[grollfam] 23/9/2013 12:42

Tilt, is this for 100% of DGRE,s interest, as the Israeli press says that DGRE will still participate in the development

[kenny] 23/9/2013 12:39

Thanks Tilt's. I was wondering if I would be able to afford a turkey this Xmas!!

[tiltonboy] 23/9/2013 11:15

I have had a response from the company, confirming that an agreement for the sale of the investment has been sold, which is still conditional.

[flying pig] 20/9/2013 17:57

Thanks Kenny

[kenny] 20/9/2013 15:41

The inference from this article is that DGRE has not sold out of the development but, presumably, has brought in other investors; to provide the money to develop:

hxxp://www.primeresi.com/northacre-puts-10m-into-1-palace-street/21971/

[kenny] 18/9/2013 22:25

Guess it is a non-UK incorporated company.

[tiltonboy] 18/9/2013 22:03

Interesting. Just been on to the Companies House website, and Palace Revive Ltd is available to buy!

[kenny] 18/9/2013 16:35

Looks like it has been sold:
============================================
Northacre will invest £10m into the redevelopment of 1 Palace Street, adjacent to Buckingham Palace.


The residential developer said it will invest the money into Palace Revive Ltd, which is a special purpose company, financed by a number of institutional investors, which has bought the property.

Planning permission has been granted for a residential scheme with a restaurant on the ground floor at the partially listed building.

The deal is expected to complete in January 2014 and Northacre will then be appointed development manager.

The property has been occupied by the Department for International Development.
=====================================================

We just need to know the price now!!!

[tiltonboy] 18/9/2013 16:35

Perhaps do a Companies House search on Palace Revive ltd.

[kenny] 18/9/2013 16:24

Perhaps DGRE has sold the entire development to Palace Revive Limited, "a special purpose company, financed by a variety of institutional investors."

I note completion is in January 2014 which is in line with when the bank loan is due for repayment. I would be very interested to learn what they got for it!

[kenny] 18/9/2013 16:20

It seems to have the same address - 1 Palace Street. However, that is only part of the block.

The RNS from NTA does not say what percentage their £10m buys.

We need more information, which may emerge in coming days.

[tiltonboy] 18/9/2013 15:05

I dont think it's the same development.

[rj allen] 18/9/2013 14:56

Todays RNS from Northacre (NTA) seems to suggest that they have bought into the Development

[grollfam] 05/8/2013 12:34

perhaps a better calculation is to work out the value of selling the property on now to a developer, as the RESI rights are approved, & receiving a lump sum now