Dev.Secs. Share Discussion Threads

[ursus] 07/1/2015 14:56

Ah - SREI - I remember it well, and sold too early as events have shown. My current prop play is Conygar, ever the bridesmaid, but getting closer to the altar of late.

[skyship] 07/1/2015 14:44

Steve - well, I'm pretty sure, actually 100% sure, it was The Quantum Fund selling the rump of their holding after they sold all bar 3m to Aberdeen @ c240p. They were still selling at a good profit; but no point in holding residue stock.

Once the tap closed - voila - the usual jump.

As I posted a couple of months ago, reminded me of the SREI share price c18months ago after Lloyds exited, selling them bizzarely on a 10% yield and a 40%+ NAV discount - look at them now...

[speedsgh] 07/1/2015 11:44

STEVEN - Wouldnt waste your time if I was you. There was no reason. Just the market doing what it does best... being perfectly irrational.

[stevenlondon3] 07/1/2015 11:31

Good morning. I am trying to work out why the share price fell from over 260p at the start of 2014 to 200p in October. Any help would be appreciated. Cheers.

[skinny] 05/1/2015 11:21

I've sold the few that I bought @184.80p @232.20 this morning - had I bought more I may have been tempted to sell half.

[badtime] 30/12/2014 20:39

Well done Sky

[tiltonboy] 30/12/2014 15:34

Yes...but I sold earlier than you!

[skyship] 30/12/2014 15:09

Thnx.........though should have bought more in October - when you did I recall!!!

[tiltonboy] 30/12/2014 14:55

SKSHIP,

Well done for holding on until this price, despite the detractors.

[skyship] 30/12/2014 14:42

Finally banked the profit here @ 231.75p. Bizarre to think these were down to 180p just 2months ago. Still believe in them; and would hope to be back in for yet another run at some stage.

[horndean eagle] 29/12/2014 10:19

On the face of it a very good announcement but learnt many a time over the years what DSC say and what they actually produce vary quite significantly.

[skyship] 29/12/2014 07:39

...and the final para suggests the return to DSC will be in excess of book:

Michael Marx, Chief Executive, Development Securities PLC said: "Cathedral has exceeded our expectations in the added value crystallised by this transaction. The GBP9.0 million gain realised on Telegraph Works, just one of the 9 projects in their existing development portfolio, compares favourably against the total consideration of GBP27.4 million anticipated to be paid for Cathedral."

[skinny] 29/12/2014 07:08

Development Securities today announces that its wholly owned subsidiary, Cathedral Group (Cathedral) has signed a joint venture agreement with Weston Homes to undertake a residential-led regeneration development at the Telegraph Works site on the Greenwich Peninsula in London.

Under the terms of the transaction, Weston Homes will pay an initial £19.1 million for the majority of the land on which it will construct 256 apartments and 16 townhouses. This initial disposal realises profits of circa £9.0 million to Development Securities with further profits to be generated upon disposal of the completed townhouses.

[skyship] 22/12/2014 18:04

elmfield - exactly - and All Health & Happiness to all here on this thread.

[elmfield] 22/12/2014 17:53

Sky,
Have a Good Christmas, you pointed me into
a couple of things and I hope I added something to your thoughts
may next year turn up the
odd bargain, however Wishes for good fortune
with capital and health preservation first.

[skyship] 22/12/2014 17:45

Another great positive about propcos - the diversified portfolio of assets protects against disasters and when the Market moves it lifts all ships.

[horndean eagle] 22/12/2014 16:49

Put today's news into context. This property has been heavily written down over the years. They have had a lucky escape with London market being as strong as it is. Proof will be in the pudding. See where NAV ends up at.

[stupidboypike] 22/12/2014 08:33

This morning's RNS looks like very nice business to me.

[skyship] 18/12/2014 16:22

A bit of a dramatic rise today - very nice to see...

[speedsgh] 16/12/2014 14:58

Two Dublin properties acquired for EUR16.1m -

Donnybrook House -

[jl9] 24/11/2014 14:28

And i don't mean a little bit better off.

[jl9] 24/11/2014 09:29

More brainless asset churn.

[skyship] 24/11/2014 07:45

Nice profit...but with an exit yield of 8.25% perhaps they should have been running the profit further into the bull cycle.

[skinny] 24/11/2014 07:06

Development Securities sells Colston Tower in Bristol for £12.3 million

Development Securities today announces that it has sold Colston Tower, an 89,000 sq. ft. office building located in the centre of Bristol, to Resolution Property for £12.3 million, equivalent to an exit yield of 8.25%. The sale of this investment asset will realise a profit of £2.0 million for the Company in line with expectations.

Development Securities acquired Colston Tower in a 75:25 joint venture with Ellandi in 2011 for £7.6 million at a 10.08% initial yield. Since acquisition, the joint venture partners have invested a further £1.9 million on refurbishments and improvements within the building. These improvements have enabled headline rental levels to increase from £9.50 psf to £14.50 psf over the period of ownership and 90% of tenants with lease expiries or breaks have renewed.

Matthew Weiner, Executive Director, Development Securities said: "We have added significant value to Colston Tower during our ownership, improving the quality of the building and thus increasing rental values and improving occupancy levels. The profitable sale of this asset will allow us to recycle capital into further investment opportunities where we see strong potential to generate value."

Mark Robinson, Investment Director, Ellandi added: "We have executed and then exceeded our business plan for this investment showing that good asset management principles can be applied across different sectors to achieve outstanding returns."