Cls Share Discussion Threads

[barnes4] 27/4/2024 08:26

How covered?

[skyship] 24/4/2024 12:53

Patience has to be the name of the game; and holding CLI provides a 9.6% covered yield whilst we do so.

[skyship] 24/4/2024 12:51

RSI & MACD both improving. Sp trading 6% below 50day MA & a full 20% below the 200day.

Crazy cheap; but so much now in that category on the LSE.


free stock charts from uk.advfn.com

[strathroyal] 24/4/2024 11:53

ghhghh - the details of all the charges can be seen on Companies House if you wish to trawl through all of the CLS companies but I think the main point being made is that there is no possibility of a domino effect on the whole portfolio. However there are a number of the companies which have more than one property charged against them, look for example at CLS UK Property Finance 2 Limited which has 8 properties listed under schedule 2 on the Charges page.

[loglorry1] 24/4/2024 09:30

You can see what you are buying here hxxps://www.clsholdings.com/our-portfolio.aspx#/mapview/all/

Quite a lot of it still seems to be advertised for rent. I assume this is standard practice and a lot of it won't actually be available?

[loglorry1] 24/4/2024 08:43

It's not totally specific but the AR says that "Most" properties are ring fenced in their own SPV with non-recourse lending in each SPV. It says there are some instances where this is not the case and that decision was taken to get better loan deals.

They also list the names of the SPVs in the AR and each is named pertaining to the properties within it. So you can sort of do a reconciliation there.

So in summary its not 1:1 SPV:Prop but it looks pretty close.

EDIT: It's just been pointed out that there are 33SPVs and 86 properties so not even close to 1:1.

[ghhghh] 24/4/2024 08:29

Does anyone know the breakdown of the ring fenced properties>

Are all assets non recourse?

And how many baskets/size of each basket?

CLC in a very strong position if each individual asset is ring fenced, less so if baskets of multiple assets which I assume is the case?

[badtime] 18/4/2024 19:23

What's holding you back...Middle East worries?

[loglorry1] 18/4/2024 13:48

PH moved from hold to add. I've seen the note it doesn't add much to what's been discussed here.

[tiltonboy] 18/4/2024 13:06

Must say that i'm tempted, but watching for the time being!

[skyship] 18/4/2024 11:30

Hi Tilts - strangely low figure - yet still up 26% on where we are now!

[tiltonboy] 18/4/2024 09:55

Peel Hunt slash target price to 105p

[shieldbug] 17/4/2024 18:14

The site currently occupied by National Crime Agency is pretty large and would be ideal for resi. Its currently low rise while across the railway there are 25 floor towers while across the street there are buildings of 10 or more stories.

[wapping67] 17/4/2024 06:42

CLS raised to add at Peel Hunt this morning

[glavey] 16/4/2024 04:20

Re: Westminster Tower, 3 Albert Embankment, some history:
1)
2)

[strathroyal] 15/4/2024 20:42

I see that React news appears to have an article about the potential sale of the Spring Mews student property, anybody able to access this?

[llef] 15/4/2024 15:02

standard says 25 apartments, 3 penthouses. Worth perhaps 150m when complete.

Doesn't seem like a conversion template for your more average office block!

[loglorry1] 15/4/2024 12:31

Does anyone have an idea on how much of their office space they could sell to be converted to resi? Presumably when that happens their is normally a lift up in value?

[essentialinvestor] 15/4/2024 12:17

Nick, they've owned the tower for yonks.

They added to their New Malden holding around 2010 (from memory) buying another block.

My first job was in New Malden (mid 80's). Office building where I worked converted to resi over a decade back, a low rise 3 floor building.

[nickrl] 15/4/2024 12:10

@EI there isn't alot at New Malden not a place i would have bought an office!

[essentialinvestor] 15/4/2024 11:44

They also own assets like the above,
which might be more difficult to dispose of.

Tbf the building vacancy rate is much smaller than I expected.

[essentialinvestor] 15/4/2024 11:17

You can just imagine how much the penthouses will be!! - £15 million plus.

[ammons] 15/4/2024 11:07

The proceeds to be used to reduce debt??

[shieldbug] 15/4/2024 10:03

I was watching Westminister Tower all last year and it was quite obviously only partially occupied. Probably costing them a bit in business rates. In any case I believe they kept the deposit from the failed sale last year. Its not great but its done and that is nothing but a good thing.

[loglorry1] 15/4/2024 08:54

I contacted the company and they said it was partially let. More info here hxxps://monmouthdean.com/properties/westminster-tower-3-albert-embankment-lambeth-se1-7sp

Not cheap office space that's for sure.