Colliers Intl Share Discussion Threads

[cockneyrebel] 03/3/2011 11:21

I've been reading up on Tony Horrell - seems to have a good CV imo.

Gonna be interesting going fwd. When these show clear signs of recovery they are a multi-bagger potential - just requires a bit of patience imo

CR

[scburbs] 03/3/2011 10:27

Envirovision,

Colliers are more driven by volume rather than price. Even if you think the bounce in London commerical property prices represents a bubble, I don't think there has been such a bounce in volume (a recovery yes, but not a volume bubble).

However, the key thing is for them to establish core profitability not go recrutiing expensive people to chasing the London market when their core areas aren't providing an adequate return.

It is pleasing to see that he isn't planning on trashing the accounts for this year through a kitchen sink exercise in order to make himself look better in future.

[envirovision] 03/3/2011 09:59

Could be a bit late to want to get into the London Market high end bubble, they could risk trying to enter the over heated sector right at the top of the market just as everyone is about to dump and run.

Hmmmm, dont like the sound of that, if they missed the boat then move on imo.

Chasing after something that left the port long long ago will simply end in tears imo.

[kfp] 03/3/2011 09:33

Damp squib comes to mind ?



Colliers International UK PLC

03 March 2011

03 March 2011

COLLIERS INTERNATIONAL UK PLC

("Colliers International UK" or "the Group")

REVIEW OF THE GROUP'S BUSINESS

CEO Tony Horrell's Initial Recommendations

Colliers International UK (AIM: COL), one of the leading commercial real estate consultancy groups in the UK, announces the initial recommendations from a review of the Group conducted by the Chief Executive Officer, Tony Horrell, who was appointed in November 2010.

In the Trading Update announced in January 2011, we said that Tony Horrell was in the process of completing his initial review of the Group and that we would announce the outcome of this review shortly. The principal conclusions of the review, which has focussed almost entirely on the UK business, are set out below.

-- Overall, Colliers International UK has built a number of high quality core businesses but requires more strength and depth in the crucial, high margin, transactional markets, in particular in Central London, one of the largest real estate markets in the world. The Group currently provides relatively little advice in this market to certain key client sectors, notably institutional investors, REITS and overseas owners. Selective senior recruitment into these areas is a high priority although we do not envisage that this investment will materially impact the Group's operating cost base.

-- The scalability of our successful professional services businesses including Property Management, Valuation, Building Consultancy and Rating will benefit from a Group-wide more focused approach to clients- both existing and potential.

-- We will keep all business segments under review for efficiencies with the aim of ensuring all parts of the company are positive financial contributors.

Commenting on the review, Tony Horrell, CEO, said: "I have found the business in generally good shape and with some star performers. The omission in the Group's current service offering is a strong presence in the high margin, big ticket transaction market. Such a presence will feed almost all our other businesses and addressing this issue will be my first priority.

"Our people are entrepreneurial and motivated and I will do all I can to keep red tape to a minimum for them so that they can do what they do best - service clients and execute business. I believe we have the potential and will have the resources to move significantly up the UK real estate service provider rankings."

[kfp] 02/3/2011 19:01

CR
Are you still holding here ?

[hvs] 28/2/2011 14:22

It musat be the white horse.

[napoleon 14th] 28/2/2011 09:40

Quite, where is it?

[jakleeds] 22/2/2011 08:47

"We will announce the outcome of this review and any significant resultant initiatives in mid-February..."

So where is it then?

[bigbigdave] 21/2/2011 12:20

Bit of news relating to COL here....


Acting on behalf of client CBRE Investors, Capita Symonds' real estate division - in conjunction with Colliers CRE – has let the penultimate unit at the British Wharf Industrial Estate, South Bermondsey.

Situated in the shadow of Millwall FC, the 5,760 sq ft unit has been let to A-Z Catering, a major supplier of chilled and frozen groceries to the retail and restaurant trade.

This is the ninth deal Capita Symonds has completed at the site. In line with the previous deals completed, the headline rent remained at £9.25 psf, with an incentive of half-rent for 18 months from the lease commencement date.

The estate has gone from 50% to 90% occupancy in the last six months, representing a significant success for the real estate division's Outer London Agency department.

[gargoyle2] 15/2/2011 08:34

My thoughts too, CR. I imagine that when the directors were buying back in December, they would have known about the possibility of (and likely sucess of) a claim from the bondholders too - so that doesn't worry me too much either.

[cockneyrebel] 15/2/2011 07:39

DTZ saying this am that their investment management arm did record business in the last Q of 2010 - is that why directors here were buing in Dec? A strong pick up in Q4/Q1 perhaps.

CR

[scburbs] 13/2/2011 18:15

Much easier to sue for misvaluation of residential property as it is nearly always leased on a short term basis so the market value and the vacant possession value are very similar.

However, a commercial property on a long lease to a good tenant will tend to be valued much much higher that a vacant property, particularly if it is in an area of weak tenant demand. The fact that the German property is worth so little now after the tenant has gone bankrupt and has proved difficult to relet is irrelevant to what it is worth with the tenant is situe (unless the valuer should have predicted the tenants bankruptcy!). It sounds like a spurious claim to me. The other transaction in 2005 helps push it away from spurious towards pointless!

[mathisvale] 13/2/2011 17:14

It could be a very good time to pick up cheap stock if you think, like me, that the chances are promising that COL will eventually recover.

Their market cap is c £23m, which compares with profits of c. £12m before the current financial crisis. That is a lot of room for a share price increase

[kfp] 13/2/2011 14:59

Might not help the share price in the short term though..

[cockneyrebel] 13/2/2011 11:27

Yep, agree - if the property had actually sold previously at a similar price then it ounds like a desperate attempt by bondholders to try to get something back from a crumby investment.

Markets change and if the property had sold for that previously then I can't see what the bondholders have on their side imo.

CR

[loverat] 13/2/2011 09:57

I bought my house in late 2007 and it has now been valued at 15% less than the purchase price I paid.

I am having a few financial difficulties at present. Can I sue the surveyor who valued my property in 2007?

[divinausa1] 13/2/2011 09:51

i sold a studio flat in shepherds bush london for 220k it was valued by nationwide, now the price has dropped to £200k can the owners now sue nationwide for the drop in value?

[divinausa1] 13/2/2011 09:49

Russell Francis, the head of valuation at Colliers, said: "The property was purchased earlier in 2005 at a similar figure to that which Colliers valued it at and we are confident that if any legal action is subsequently brought we will be successful."

=========

really dont see how they can sue them...

[envirovision] 11/2/2011 19:03

After a fairly large dead cat bounce, DTZ has clearly come too in the slaughter house.

[kfp] 11/2/2011 18:55

Yes we shall see.

[cockneyrebel] 11/2/2011 18:51

Dunno, but why buy those share just 7 weeks ahead of this update? Suicide trades? I can't see it, they never needed to buy and if this statemen was going to be disappointing then they could wait till after.

Still, there's always nutters in this world but I'm betting their own cash speaks imo.

CR

[kfp] 11/2/2011 15:58

CR
I have just topped up with some spare cash (10k @ 14.9p) either Ritblat and his fellow director are wrong with their share purchase 7 weeks or so ago,or there are some nerves ahead of results.
What's your feeling ?

[kfp] 07/2/2011 19:43

Cr Perhaps the major holder considers col at bargain levels and makes a bid after results.
I think they hold the maximum without bidding don't they ?