First Property Share Discussion Threads

[jimmywilson612] 29/10/2015 13:09

David Cameron’s decision to make the permitted development rights program permanent could benefit First Property (LON:FPO) but its chief executive is remaining grounded for now.

Yesterday, the Prime Minister said the temporary rule, which allows companies to turn unused office space into town and city centre flats without applying for planning permission will be made permanent.

Cameron said: “My government will do everything it can to help people buy a place of their own – at the heart of this is our ambition to build 1mln new homes by 2020.”

Almost 4,000 conversions were granted between April 2014 and June this year and so far First Property has used the scheme to create 665 affordable flats.

Speaking ahead this week’s Housing and Planning Bill, Cameron said key to the initiative will be local authorities, which must show a plan for housing creation by 2017.

Ben Habib, chief executive of First Property, said: “If the temporary legislation is simply made permanent without any bells and whistles attached, that’s extremely positive for First Property Group.”

He added: “What I fear though is that, in making it permanent, the government may attach certain conditions for example that local authorities will have the right to determine whether or not to grant permission.”

Any conditions that allow the local authorities to use a subjective judgement “compromises the legislation” he said.

At the moment, the company has not applied for any new contracts, but continues to monitor the market.

Its last PDR property was sold earlier this year and until the legislation has been set out in full, it will not contractually commit itself.

“The government has been extremely slow and I don’t want to over-egg it until we have clarity and I don’t know when that will come” Habib said.

Meanwhile, in Poland and Romania, he said rents continue to rise, with tenancies being renewed as soon as they come up.

Habib said the company is borrowing money at around 2-3% while maintaining returns of around 10%.

hxxp://www.proactiveinvestors.co.uk/companies/news/116162/david-cameron-s-housing-plans-could-boost-first-property-116162.html

[speedsgh] 08/10/2015 10:07

In pole position for re-rating - [subscription only]

[jimmywilson612] 07/10/2015 19:12

Very good - anyone got a link to the article?

[wynmck] 07/10/2015 17:29

was a Simon Thompson buy again midday Jimmy

[jimmywilson612] 07/10/2015 17:15

Good rise today which is always good.

Cant see why though - anyone enlighten me?

[ftseproactive] 10/8/2015 14:18

Proactive speaks to CEO Ben Habib

[asusasus] 07/7/2015 09:33

Just done a dummy order and those 25k were buys.

[yupawiese2010] 23/6/2015 18:54

Ben Habib talks to Proactive Investors.

[topvest] 18/6/2015 21:03

Kick them out - it's about time we had some discipline on countries defaulting. Weak politicians with no guts.

[mazarin] 18/6/2015 17:04

I think the Greeks are playing a foolish game of 'call my bluff' in the belief that they're threat of leaving Euro (something most Greeks don't want) will so negatively impact the wider market that the IMF will continue bailing them out regardless. They've now forgotten whose money they're messing about with.

[andysand] 17/6/2015 12:55

Surprising short term movements here. The Greece worry is probably to blame. No direct effect obviously but it's a tiny company and market jitters are probably pulling it down with jittery AIM funds selling.

[mmickyboy] 14/6/2015 11:34

I don't think i've ever seen anything this cheap!!

I topped up Friday after initial investment as an income stock @ 17p. Income!!!

Well I've had a good dividend and stella capital growth too.

These are a strong buy imho, and no good for the institutions as they are too small to pick up any sizable amount, great for the private investor.

Watch them rally on Weds when Investors chronicle comments online and Friday when mag is out as i'm sure they will have further positive strong comments to make.

MB

[topvest] 12/6/2015 20:08

Good company but the CEO is paid far too much relative to shareholder returns.

[andysand] 11/6/2015 13:14

Will hold till for another year assuming nothing changes. Looking for that 69p.

[yupawiese2010] 11/6/2015 13:04

Analyst presentation.



Ben Habib talking on Morning Money..



Presentation by Ben Habib.

[andysand] 11/6/2015 12:56

surely this deserves a pe of 10? If so, target would be 69p

[andysand] 11/6/2015 11:21

Yes. Excellent results. The market is liking them too.

[yupawiese2010] 11/6/2015 08:10

Excellent set of figures, was expecting fx to have a slightly bigger impact, (although they are using the average £ - € exchange rate for the year of 1.285.) therefore we are still facing headwinds to come in the short term in this department.

But overall prospects look encouraging going forward.

[andysand] 09/6/2015 16:18

You didn't miss the boat! Share is cheap as chips. Plenty of room for a rise to 50p. possibly more.

[speedsgh] 09/6/2015 15:18

Oh yes I am. I'm watching jealously from the shore having missed the boat 12-18 months ago :o(

[andysand] 09/6/2015 12:44

Quietly making new closing highs. Very quietly! Nobody is noticing this one :)

[andysand] 26/5/2015 13:03

there's likely to be a run up into the results. Breakout could happen today.

[dorset64] 14/4/2015 09:40

Some good research yips. Still surprised by this bulletin board being so quiet with not many on here. Great share and been a good earner over the years.