Cls Share Discussion Threads

[aishah] 23/12/2024 12:28

SP now at multi year low.

[essentialinvestor] 13/12/2024 15:49

GPE is 99% London, from memory
and within London they are geographically tightly focussed.
Their vacancy rate is also negligible.

They specialise to Grade A office space and rapidly growing flex space offering. I'm not making a buy case for GPE here, just facts.

There are older offices a plenty in Surrey
that are lying idle for years now. It's extraordinary to think these were once hives of activity and now left desolate.

[skyship] 13/12/2024 15:09

The IC states this in their article on office player GPE:

"A bargain way to bet on the office market recovery. With the pandemic well and truly a thing of the past, now is the perfect time to reconsider these unloved assets"

You wouldn't believe any recovery in offices sentiment looking at the CLI sp!

[strathroyal] 06/12/2024 17:13

Looks like they have updated/revamped their website, very good.

[hybrasil] 05/12/2024 08:57

There really is something radically wrong with the UK stock market when a share such as this barely trades.

[hybrasil] 04/12/2024 10:02

And bought a few more again this am.

[wshak] 03/12/2024 13:31

The reasoning is here, dated 27 Novemberhttps://development.towerhamlets.gov.uk/online-applications/applicationDetails.do?activeTab=documents&keyVal=DCAPR_142995

[dlp6666] 03/12/2024 11:54

But why (given the latest planning bad news)?

[glavey] 03/12/2024 11:34

Well, that bounced!

[hybrasil] 03/12/2024 11:30

Bought some more this am.

[essentialinvestor] 03/12/2024 10:19

Any issue is on UK vacancy rates, would guess the market is focused on this, besides reducing gearing.

[skyship] 03/12/2024 09:29

"Decision - 1. The appeal is dismissed."

I would very much like to hear the reasoning behind such a misguided decision.

Such decisions should be taken out of the hands of braindead councillors.

[spectoacc] 03/12/2024 09:02

Not sure why office users would want more space per employee. Cost-cutting the order of the day, and fewer employees with the NIC rise.

But that's UK of course - fewer employees on the continent with a sclerotic economy. Interesting that both France and Germany going to have unexpected GEs soon.

The word "eventually" is doing a lot of heavy lifting, but I'd not argue CLI is expensive. Just that there's better things to buy, with more potential upside and more divi safety.

5 years? The definition of a long-term trade is a short-term one gone wrong ;)


@loglorry1 - not on financials it ain't, tho agree GSF in particular is opaque. It's also mind-bendingly cheap IMO. If it was single-country it would have been taken out by now IMO, & still wouldn't rule it out.

[strathroyal] 03/12/2024 09:00

Obviously technology is not a strong point!

Appeal Ref: APP/E5900/W/24/3345893
9 Prescot Street, Tower Hamlets, London E1 8PR
• The appeal is made under section 78 of the Town and Country Planning Act 1990 (as
amended) against a refusal to grant planning permission.
• The appeal is made by CLS Prescot Ltd against the decision of the Council of the London
Borough of Tower Hamlets.
• The application Ref is PA/24/00057.
• The development proposed is the change of use from office use (Class E) to a dual
hybrid use for higher education uses (Class F1(a)) and office use (Class E).

Decision
1. The appeal is dismissed.

[loglorry1] 03/12/2024 08:43

CLI is much better quality than GSF and SEIT. The latter worry me esp GSF and I wouldn't invest. Offices might be out of fashion but I don't really think AI and home working will kill them off.

[ghhghh] 03/12/2024 08:38

Not sure what it's about, but in general at least part of CLI's problem is how much cheap stuff there is out there. Why would I buy over-geared, debt-risk (but not bankruptcy risk) CLI yielding 10%, versus eg SEIT, getting sold down by Rathbones, at 12%. Or NESF at 12%, or GSF at 14%.

Because it offers more potential upside if you believe that well located semi prime offices will eventually be dragged up by Prime's increasing rentals/restricted availability, especially as WFH slowly reverses as appears to be happening. And office users want more space per employee.

Which is going to be higher in 5 years?

I own all four having recently bought back SEIT, Gore and NESF. Also bought FGEN

I assume CLS suffering from exposure to France

[skyship] 03/12/2024 08:00

Presumably change of use application for The Artesian has been turned down.

Strath - Can you please confirm one way or another...

[spectoacc] 03/12/2024 07:44

Classic :)

Not sure what it's about, but in general at least part of CLI's problem is how much cheap stuff there is out there. Why would I buy over-geared, debt-risk (but not bankruptcy risk) CLI yielding 10%, versus eg SEIT, getting sold down by Rathbones, at 12%. Or NESF at 12%, or GSF at 14%.

All with different pros/cons, but the market's changed.

[dr biotech] 02/12/2024 23:33

That’s a link to your hard drive..

[strathroyal] 02/12/2024 22:26

Not been forthcoming about this or it's effect on NAV

[hybrasil] 29/11/2024 14:31

made a maiden investment here today at.82p

[jeff h] 26/11/2024 22:20

Maybe they transferred property/buildings to another group company which had more collateral or a lower loan to valuation level leaving basically group shell companies behind that were then dissolved.

[strathroyal] 26/11/2024 21:10

Jeff H - Thanks for that. I can see where you're coming from as CLS Scotland Limited for example would appear to be one of those companies as in April 2023 it was voluntarily wound up and then restored in July of the same year. However those that I am referring to, for example CLS Gresham Limited, have not previously had winding up proceedings started.