Real Estate Opportunities Share Discussion Threads

[asmodeus] 25/11/2011 08:57

Re 1045 - See 1040.

[ianbrewster] 25/11/2011 08:49

More speculation

Chelsea mull over building new stadium on Battersea power station site

[asmodeus] 25/11/2011 08:15

From above (1043): "Nama and Lloyds yesterday rejected a £262 million offer from Malaysian investor, share price Setia, to buy out secured debt due on the property for 85 per cent of its original value.

The pair were said to be unhappy with the price and also had some concerns about the bidder's ability to execute the deal.

They are understood to be in touch with a number of other parties who have expressed interest in the property, but who have not made any firm offers.

Sources yesterday said that the process is reaching a crucial stage and added that Nama and Lloyds were likely to decide on the property's future within the next few weeks."

[caveat_emptor] 23/11/2011 05:29

Interesting...reading the jellygraf this morning ...the banks
and NAMA have had an offer of 255m to walk away and allow
a Malaysian outfit develop along the lines that are in the
planning permission.

It's coming down to the wire.....

The fat lady is about ready to come on and sing.......

[caveat_emptor] 21/11/2011 23:22

I think you missed the more significant statement, that Chelsea
would not buy back it's own feehold.....
Now if they would'nt pay that, with Abramovich behind them, they
would hardly rise to the sort of price being asked for Battersea.

[asmodeus] 21/11/2011 10:19

Re: 1039 - the good news: "RUSSIAN oligarch Roman Abramovich has held talks with NAMA about buying the debt connected to the Battersea Power Station site in London."

The bad news: "A director of REO, Rob Tincknell, dismissed Chelsea FC as being suitable for the site. The football club "does not fit on the power station site. It would require the demolition of the Grade 11-listed building which would lead to a 10-year planning battle", he said."

[tiltonboy] 29/10/2011 17:43

0-0 in a very poor affair.

[badtime] 29/10/2011 10:32

Tilts..for once i hope yur team doesn't get a result today...ther at home to mine! :)

[tiltonboy] 29/10/2011 09:47

REO owns 54% of the equity of Battersea, ex REO ZDP and CULS holders own 33% of the equity.

If there is a deficit after the sale of Battersea, which there almost certainly will be, REO will continue to be in the hands of the banks/NAMA.

If there was to be a breakeven/surplus, I would be a rich man through the valuation of Battersea. However, I give the likelihood of that as, as close to zero as you can get.

Ultimately IMHO, and as you are fully aware, the banks are already controlling REO/Battersea and will continue to do so until they get their money back.

[caveat_emptor] 29/10/2011 09:00

Hi again Tilton,
Can I ask you..........

Is Battersea still on the REO balance sheet?

[tiltonboy] 27/10/2011 22:41

Any/all if the price is right.

[caveat_emptor] 27/10/2011 22:29

The Irish Indo repeats the statement at the end of yesterday's
results....The finalisation of binding legal terms with NAMA would secure the group's short-term funding requirement, Mr Horney said, and REO would have to sell or refinance certain assets to pay some of the money owed to various creditors."
Which assets do you reckon?

[tiltonboy] 27/10/2011 08:44

and so does any other Telegraph reader...

[caveat_emptor] 27/10/2011 06:39

Shareholders get to vote...........



Stunning results emerging.

[tiltonboy] 26/10/2011 09:16

They were all converted into Battersea equity.

[caveat_emptor] 26/10/2011 08:48

Do you still hold those preference shares you spoke of Tilton?
Culs I think you called them?

[tiltonboy] 26/10/2011 08:44

asmo,

Not the news I am waiting for!

Interesting to note that Battersea has maintained it's value, and given that negotiations have been on-going for months prior to the balance sheet date, I was wondering whether this gave an indication that a deal may be concluded around that level. Surely they would have had to write it down if indications of interest were a long way from that level.

At least they are using language to suggest a deal will be done.

[asmodeus] 26/10/2011 08:25

News is not just close - it has arrived. See report.

[tiltonboy] 25/10/2011 14:03

Only small amounts, but a few little purchases today. I think it would need some far larger volume to suggest that news might be close.

[tiltonboy] 12/10/2011 15:57

Only interested in Europe this season. Can't even get to the game, as my lads game kicks off at 2pm.

I wish REO would hurry up and get thins sorted.

[jenny tulwought] 12/10/2011 15:21

Certainly for the Blues if they can beat Leicester over the weekend eh?