Comm. Prop. (SEE LSE:CGA) Share Discussion Threads

[s50cam] 03/10/2008 14:48

'Shape of Things to Come'
Front page CAD drawing of Manston proposal in my local this week.
Theres one hell of a support group against it but I wouldnt be suprised to see it passed.
I wonder if anyone would mind letting me know how much it would be worth to the share price if it was passed ?
Thanks

[asparks] 20/8/2008 10:51

its not looking good here

[andrbea] 18/8/2008 13:08

8% up
what a rollercoaster this is...

[andrbea] 15/8/2008 12:46

another 9% off

[vision88] 31/7/2008 03:59

when stock gets mouldy people simply dump them

[thebull3] 14/7/2008 15:06

planning on one of their sites is due in august i think, this is a an opportunity to top up at these levels, very tightly held stock i think, very difficult to buy large amounts, traditional tree shake me thinks

[steinway] 11/7/2008 15:00

With no updates from the board in ages 50p and sinking.

[thebull3] 30/4/2008 12:36

anyone have a price target for this sp?

[asparks] 22/4/2008 09:09

holding up well in poor market.

[asparks] 01/4/2008 13:03

there are almost zero shares in free float. (see list above). Every purchase pushes these up

[asparks] 01/4/2008 13:01

guman - no. Only peeps over-reacting to market conditions

I am back in btw

[guman] 31/3/2008 10:24

any reason for uniterrupted decline.

[guman] 31/3/2008 10:24

any reason for uniterrupted decline.

[steinway] 12/3/2008 12:02

Anyone seen this?

[asparks] 17/12/2007 08:38

what large vol guman?

[asparks] 17/12/2007 08:37

From The Times
December 15, 2007
Fidelity manager puts faith in property stocks as he says share values will build
James Rossiter

Anthony Bolton, the veteran fund manager at Fidelity International, is calling the bottom for property stocks and considering buying battered-down shares in housebuilders and retail companies.

Speaking to investors yesterday at the annual meeting of his £400 million Fidelity Special Values fund, Mr Bolton said that he had bought into a number of well-known UK property stocks in recent weeks. News of Mr Bolton's strategy came as a report revealed that prices of commercial property buildings had suffered a record one-month fall in November, twice as steep as the worst monthly price declines felt in 1990, at the depth of the last commercial property recession.

Values of commercial buildings fell 4 per cent in November, bringing the three-month decline to 7.25 per cent, according to the Investment Property Databank (IPD). If price falls continue at the same rate then the value of offices, shops and warehouses could be 29 per cent down in mid2008 from their peak last summer.

The share prices of Britain's six largest quoted property groups - British Land, Land Securities, Hammerson, Liberty International, Segro and Brixton – have fallen on average by 45 per cent since January.

Mr Bolton steps down from running both the Special Values Fund and Fidelity's flagship £3.2 billion Special Situations Fund at the end of the month. He has run Special Situations since 1979, producing annualised returns of 20 per cent a year.

Mr Bolton held a large weighting in property until earlier this year. British Land and Land Securities have been favoured investments.

"Now with share prices falling, I've started to add back into this area," Mr Bolton told investors yesterday. The sharp decline in quoted property stocks reflects fears that companies' underlying building assets were overvalued. This summer's credit crunch prompted the sudden withdrawal of the large numbers of leveraged buyers who had been propping up the investor market for the past two years. Their sudden absence caused investor demand to slump and capital values to fall, even though the rental market across offices, retail and industrial has held up.

But price falls of individual assets, even after the release of yesterday's IPD figures, are still far shallower than the declines marked down on property stocks, many of which have halved this year. This discrepancy has presented a buying opportunity for Mr Bolton and the Fidelity funds he runs.

Mr Bolton added: "It discounts a big drop in property values, and in some areas it overdiscounts that."

Housebuilding stocks, meanwhile, have on average lost 50 per cent from peaks hit between February and April this year, reflecting fears that the housing market is set to crash.

While house price inflation has ground to a halt and sales volumes for the big firms have fallen between 10 per cent and 17 per cent since October, there are no signs yet that housebuilders have cut asking prices.

Property stocks are trading at discounts of 30 per cent to 50 per cent of their latest net asset per share valuations (NAV) – a core way of measuring the underlying worth of a property stock. Property companies are expected to write down their NAVs by up to 10 per cent over the coming months, reflecting the falls recorded by IPD. Housebuilders were trading at the start of the year on multiples of between 1.5 and 2 times their NAV but are now trading near par.

Barratt Developments bought Wilson Bowden in February for £2.2 billion, equivalent to 1.9 times NAV, including goodwill and valuing the enlarged group at £4.8 billion. Today Barratt has a market value of only £1.67 billion and this week fell out of the FTSE 100 index.

[guman] 14/12/2007 16:46

unusal not have any change in share price for such large volume for this company.

[utsushi] 12/12/2007 10:34

Gsands is 100% right, a much wider disc to NAV is required to be interesting, illiquid, little sponsorship, i don't rate Laxey, odd practise to buy land at the moment..much better quality fish around surely?

[asparks] 10/12/2007 08:39

GSANDS "Land does not generate income"
Well, you simply dont understand the market then. Wait and see what the share price will be when development of Manston is approved

.
DOnt think those listed below would agree with you either:

Omega Properties Limited 6,061,039 33.67%
Blenheim Limited 6,061,039 33.67%
Heritage Property Limited 1,550,723 8.62%
Eco Friendly Developments Limited 995,800 5.53%
David Pearl 500,000 2.78%
Richdata Associates Limited 500,000 2.78%
Dungarvan Associates Inc., 500,000 2.78%
Principal Corporate Investor Limited 500,000 2.78%
Rufus Pearl 362,524 2.01%
Andrew Hunt 353,896 1.97%
The Land and Equity Pension Fund 293,843 1.63%
Andrew Halstead 214,092 1.19%
PRC 107,044 0.59%
Laxey Partners Limited 3,921,343 18.67%

[gsands] 08/12/2007 13:04

There is no investment case here as far as I am concerned.

This is a small AIM company which is trading at a very high price relative to the rest of the sector which has taken a big hit.

I do not believe that now is the right time to be buying land.

Land does not generate income. Yes - there can be a notional uplift in value if they get planning permission, but this against a background of potentially falling prices and low construction levels.

I am invested in MAY because it is a landlord with good blue chip tenants, collecting the rent and paying out surplus cash to shareholders.

If the share price does nothing then I am happy to collect the annual dividend of 13%.

[asparks] 08/12/2007 12:47

GSANDS - you wait and see what the share price is when further news of the China development is announced. You will be VERY dissapointed you did not get on board now.

[gsands] 08/12/2007 12:37

If you're looking for value check out HMSO, BLND, MAY etc.

Many trading on a far bigger discount.

MAY is nearly 50% discount to NAV and pays a 13% dividend. Much better value that this.