|New thread here
|Massive housing estate about to spring up on the Prince of Wales colliery site. Drove past today.
A new trunk road running through that land as well. Massive investment going in.|
beeks of arabia
|consolidation next step?|
They (the PF) did as well, which gave me pause for thought. We've discussed before, strutt, why there may be a discount and I think the chances are those reasons will continue. Rightly or wrongly, I saw the refinancing as a chance to get out at a premium to the former share price. There clearly is value here in the long term, but I'm not sure how quickly it can be realised and I have a different agenda now.
|You just have!!
19 Feb'15 - 14:35 - 483 of 486
As far as the share price is concerned, the market sets the price but when it comes to a deal, why would anyone sell at less than NAV?|
|That's it for me. I'm sure it will do well over the long term but it looks like a slow process to release value here and that doesn't suit my current needs, so I'm out. Good luck to holders.|
|Onwards and upwards|
|I would of hoped for a little more than 7.25p, 19.5% discount to NAV.
The only thing that doesn't look in our favour we own 24.9% of the business with 605,460,000 shares £43.89 Million
PPF will own 25% of the business with 730,674,465 shares £52.97 Million !!
Our current share becomes 20.71%
1 new share for every 7 held.
Proposed .05p dividend year ending Dec 2015|
|As far as the share price is concerned, the market sets the price but when it comes to a deal, why would anyone sell at less than NAV?|
|Yep won't be long now but tell me who decides the discount to the assets and is there a technical means to do so not just plucking a number from the ether.|
|"during the first quarter of 2015"
Well they're cutting it a bit fine. They've got about 5 weeks left. In the meantime, we remain suspended but I'm not sure why.|
The consideration will be a shareholding of between 25% and 29.9% in the Company with the balance of the consideration payable in cash from an expected firm placing and open offer to shareholders during the first quarter of 2015.
Discount to net asset value
At the start of 2014 the shares were trading at 6.0p per share which equated to a discount to the underlying net asset value of 34%. This discount fluctuated through the year. At the point of suspension from trading on 18 November 2014, the share price was 5.4p, a discount of 43%.
Whilst the discount to net asset value represents an indicator of potential impairment to the investment in Harworth Estates, the Directors are confident that the carrying amount of the investment does not exceed its recoverable amount and therefore no impairment is required|
|Not sure I would have said shame more disgrace?|
|Based on these results I'm going to have to raise my price target
Shame there was no mention of the refinancing.
9.7p NAV :-)|
Yes that would be just the job, let's see! you could certainly make a case for 10p or more with the assets we have and debt almost zero.|
It depends on how the company raises the funds to purchase the 75% stake.
I would like to see a minimum of 10p a share valuation £240 million|
|Tell us, if anyone knows, if there will be a substantial uplift in the current share price when trading starts as I assume a valuation of assets has been carried out and that increase in value will be reflected.|
|Thanks for your replies lads. I hope you make a packet.|
|If the tunnels are at sufficient depth there isn't an issue.
Ones nearer the surface would be grouted up prior to development.
All new housing developments would be subject to gas monitoring prior to construction. If the methane levels were too great then it would not be acceptable to have residential properties on the land.
Industrial type buildings would be ok in this instance.|
|Indeed - and why I put a few pounds in Alkane|
|Just a general question which probably displays my total ignorance but is it not really dangerous building houses on land which has been used for mining?
Are there not tunnels, possibility of inflammable gas etc left behind?|
|When the reverse takeover is completed.|
|Any ideas when we might be relisted.|
|Hundreds of homes could be built on the site of a Doncaster mine – spelling the end of a pit landmark visible for miles around.
Plans have been unveiled to demolish the pit head at Harworth Colliery and build more than 1,600 houses on the site.
And the scheme – proposed by Bassetlaw Council and Harworth Estates – has been boosted after it was one of 29 sites shortlisted to become a Government housing zone.
Ten zones will be created, which would receive funding to transform former industrial land into residential use.
Plans to build several hundred houses on part of the site have been in place for a while, but bosses had until recently hoped to reopen the mine, which was mothballed in 2006.
However, it has now been confirmed the latest plans would see the tower which houses the winding gear demolished, making room for an extra 750 houses, taking the total proposed to 1,628.
David Armiger, Bassetlaw Council head of regeneration, said the plans would be expected to go ahead with or without housing zone status, but the status would mean the scheme proceeded more quickly.
He said Bassetlaw Growth Team, in partnership with landowner Harworth Estates and Harworth and Bircotes Town Council submitted a bid to Government for a development of 1,628 additional new homes and community infrastructure on the site.
If successful, the bid would provide funding for land remediation and the infrastructure needed to develop the area – one of the largest brownfield sites in the area – including a new primary school, open spaces, sport pitches, community facilities, bus station and affordable housing.
Coun Jo White, council cabinet member for regeneration, said: “We are delighted the government is recognising Harworth’s potential.
“The town and surrounding area boasts 101 hectares of well-connected employment land we are actively marketing for development.
“The housing zone will enable the development of good quality, mixed-tenure new housing and facilities to provide for this growing community.”
Coun June Evans, town council chairman, said: “We are taking great strides forward in Harworth and Bircotes and in the last couple of years have seen the development of new supermarkets, a neighbourhood plan and an upsurge in interest from house builders and businesses looking to invest and locate in the area.
“Working in partnership with Harworth Estates will see improvements to community facilities and our town centre.
“We are keen to see this zone brings forward not only houses, but family-friendly facilities, a new bus terminus, new primary school and good quality, well-managed open spaces.”
She said the scheme was vital to the regeneration of Harworth, where unemployment was about 20 per cent.
She said she expected the pit head would be knocked down in the next few months.
Chancellor George Osbourne, discussing the housing zones, said: “A key part of our long-term economic plan is to build the houses Britain needs, so more families can have the security that comes with home ownership.
“That’s why I’m delighted to announce the areas shortlisted to become the first housing zones in England which, as part of a wider package of measures, will help deliver up to 200,000 new homes on brownfield land.”
Brandon Lewis, housing minister, said: “Getting Britain building is a vital part of our long-term economic plan. And, since 2010 we have seen construction on new housing rise to the highest level since 2007.
“Twenty-nine areas across England have now been shortlisted to become one of the first housing zones, to deliver new homes quickly on brownfield land.
“The 10 finally chosen will then have the chance to build homes for local communities while continuing to protect the green belt.”
Hatfield Colliery is the only remaining operational pit in the Doncaster area.
|Harworth Estates has completed its first residential land sale at the 77-acre Prince of Wales development in Pontefract, West Yorkshire, to Ben Bailey Homes.
The transaction of the 11 acre parcel of land will enable Ben Bailey Homes to build 131 three and four-bedroom homes on the site of the pit yard at the former Prince of Wales Colliery. Construction of the first homes is expected to begin in January, which should allow the first residents to move in by the Autumn of this year.
The development was granted outline planning consent in December 2013 for 917 homes and 265,000 sq ft of employment space, as well as a range of community facilities, including retail units, cafes and medical & community centres. Completion of the entire development is expected to take between eight and 10 years.
The land sale to Ben Bailey Homes follows a significant amount of work undertaken by Harworth in 2013 and 2014 to prepare the 77-acre site for development, including the removal of all colliery buildings and mining infrastructure and the installation of new highways and drainage infrastructure.
The site’s development also includes the former spoil heap, next to the pit yard, which will be transformed into a country park, providing new public open space for the community. The country park will combine with Pontefract Park and Pontefract Racecourse to provide an extremely attractive gateway into Pontefract.
The development forms an important part of Wakefield Council’s wider regeneration plans for Pontefract. The site provides the road corridor for the proposed Northern Link Road, which will provide a gateway into Pontefract from the M62 and open up further space for residential and commercial development, a critical piece of infrastructure to ensure the future sustained growth of the area. The road corridor is expected to be completed in February 2015.
Chris Davidson, Development Manager for Harworth Estates, said: “This is an important first transaction in the regeneration of the former colliery, demonstrating our ability to create homes on brownfield land. Ben Bailey Homes is a high-quality housebuilder, with whom we have built up a strong relationship.”
Ben Bailey Homes’ managing director, Mark Mitchell said: “The purchase of land at the former Prince of Wales colliery represents a significant investment for Ben Bailey Homes. This £28m development of 131 new homes will be the very first for us in Pontefract and forms part of the businesses ongoing strategy for a major roll out of new developments across Yorkshire in 2015.
“We have undertaken extensive market research and studied home living trends to develop the selection of properties we will be building in Pontefract, raising the standard of the new build home sector.
“Works will commence later this month with the first homes ready for occupation in later in the summer.”
Peter Box, Leader of Wakefield Council, added: “The scheme will make a huge difference not just to Pontefract but the entire Wakefield district. It will bring significant inward investment to the area with the creation of new homes, new facilities and new opportunities for the residents of Pontefract. The site also forms an important part of the new Northern link road which will improve connectivity between Pontefract and the rest of the region.
“Although times are tough we are still achieving a lot and by working with Harworth Estates and other partners on ambitious projects such as these, we can continue to encourage economic growth across the district”.
This transaction reaffirms Harworth’s regeneration credentials and follows on from a strong 2014 in residential development. Harworth secured planning consent for a total of 1395 housing plots in the year and also completed sales that will enable housebuilders to build over 800 new homes in Yorkshire and the Midlands.|