Dev.Secs. Share Discussion Threads

[scburbs] 21/11/2014 08:01

Excellent news. Progress on 399 Edgware Road has been very slow so great to get this moving with further significant gains expected on the retail and resi elements.

[skinny] 21/11/2014 07:03

Development Securities today announces that it has signed a £41.0 million agreement with clients of Aberdeen Asset Management to forward-fund the development of an 81,000 sq. ft. food store at 399 Edgware Road. The food store, pre-let to Morrisons, will anchor the £150 million mixed-use regeneration scheme and represents the first stage of development at this significant non-income producing legacy asset.

The funding agreement will release £10.0 million of cash immediately for the land cost of the development site and a further £2.8 million in respect of costs incurred to date since planning was achieved. The construction of the Morrisons food store is now underway with practical completion anticipated in September 2015. Upon the successful delivery of the food store, Development Securities will receive an estimated balancing payment of £5.0 million, representing a profit over the £10.0 million book value of this element of the project.

more..

[scburbs] 14/11/2014 08:22

This project looks good. Only just got planning and they will be in and out on £40m project by end 2016, 50% "reserved" for pre-sale.

[badtime] 11/11/2014 21:33

Tilts..u prefer GCP to HCIL?

[cwa1] 07/11/2014 14:30

Many thanks speedsgh, tilts and Sky, will have a look at all of those.

[skyship] 07/11/2014 12:38

CWA1 - one to research:

A year ago JP Morgan Private Equity ("JPEL") had a major Strategic Review whilst also washing out weak holders and introducing new holders with a matched transfer @ 80c - yes, cents, they are listed on the LSE in US$.

The key part of that Review is to provide shareholders with the ability, from Jan'16, to surrender portfolio gains through tenders at the full NAV - NB: currently JPEL trade at an above sector discount of 28.8%.

This Investor Presentation tells all:



I've been in and out of JPEL a number of times over the past 2years. I have very recently bought back in due to the discount, the future tenders and the US$ exposure - 28% is invested in the USA; but one possible weakness is the 40% invested in Euroland. Overall the portfolio is very mature, so disposals are likely to be frequent from now on...


free stock charts from uk.advfn.com

[speedsgh] 07/11/2014 10:41

CWA1 - Poor sentiment towards the general/life insurance sectors which is driving prices down indiscriminately imo. Some tempting yields on offer so long as they are sustainable so due diligence required in one's research. Might be worth taking a look at BRIT, ESUR, LRE for example.

[tiltonboy] 07/11/2014 09:26

This money is earmarked for the GCP placing.

[cwa1] 07/11/2014 09:12

Yes, nice work. Now watch it race off in to the stratosphere ;-)

Will certainly keep my eye on it for one of its periodic flounces down to the 180's, for no apparent reason.

FWIW, and apologies for being a bit off-topic here, I put some of the cash in to LAD at 114'ish in the hope of a modest turnaround there. Anyone else care to share their current forays, as I have a bit of cash burning a hole in my portfolio pocket......

[tiltonboy] 07/11/2014 08:27

Profit duly taken. Pleased with 15.5% in 30 days.

Will retain on the watch list if it falls back.

[citymohawk] 04/11/2014 16:12

Sky - I think it's probably worth pointing out that the DSC float has actually been narrowing.

-DSC have an increasing amount of institutions holding new positions
-Over 1% of the float has been acquired in the last month or so

Yes, FIL, BlackRock, F&C and Ameriprise have all lightened their exposure over the past few weeks/months. Even after this, we have net-buyers in the DSC market.

It is therefore important to note that a price drop may not necessarily be a result of a big seller. A big buyer may be putting in lower bids for stock and creating mini-panic falls. It also works the other way around too. A big seller could in fact make the price rise. I was a seller in the market creating incremental bids (1/10ths) and many of the recent upward spikes in DSC correspond to my auto-fills (to the very second). I nursed a running minus £7k loss down to something like minus £500 (exact figure yet to be confirmed). So the pricing behaviour is without doubt manipulated by cheeky orders.

Whether its wise to sell now or not depends on a few things:

1) How often does one switch on the screen see the price. If it's every day, then I'd say it's wiser to be a seller right now because this is an excellent "relative" price

2) If you are happy to hold and keep your screens off and relax then you have yourself a bargain because this is a £3.00 share without a doubt.

3) Your view on the wider systemic risks which will without doubt have a unforgiving effect on DSC should it be miscalculated. Of course, the greatest of economists will only guestimate this for you so - this is the only gamble in your hold.

4) What is everyone else likely to be thinking :)

Another thing to consider is whether or not the recent institutional net-buyers could be spread-betting firms hedging their exposure in the real markets. If we have successfully spiked out the moronic shorter(s) in their CFD/SB positions then they will be closed out and the corresponding counterparty will need to also close therefore creating a possible flood. Very unlikely, but worth considering.

CM

[skinny] 04/11/2014 15:18

A bit crude...


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[hpcg] 04/11/2014 15:03

speedsgh - I think your channel is about right. Also a pretty straight run back up so a retrace might be in order. Potentially a re-entry point at 200?

[skinny] 04/11/2014 15:00

More by luck than judgement, I bought SREI @39.10p on October 12th 2012 - currently +@51%.

[skyship] 04/11/2014 14:54

So true - but when you have a tap-seller, crazy lows do happen. Just take a look at the SREI chart when Lloyds were unaccountably selling down their holding:


free stock charts from uk.advfn.com

[spittingbarrel] 04/11/2014 12:12

Skyship and CWA1 - Unfortunately I only bought a few in the 190's having started buying at 225. Why do shares always look so horrible at the bottom? :)

[skinny] 04/11/2014 12:07

Nothing personal, but I hope you do come to regret selling them! :-)

I'm holding for now as unfortunately I only bought a few @184.80p

[cwa1] 04/11/2014 12:01

Hi sb

Not claiming to be one of the "smarter minds" BUT I was fortuitous to buy them very close to recent lows and was able to flip them for a nice, quick, turn-and as Sky says in current markets that's very welcome indeed!

I have nothing at all against DSC and will probably regret selling them out at some point(or even get back in), so it's entirely possible that you've done the right thing by holding on to them :-)

[speedsgh] 04/11/2014 12:01

Trying to read the chart which I don't find the easiest on this one. However it is definitely still within the channel of its current downtrend which started in Q1 2014. AFAICS breakout of channel is somewhere between 220-226 depending on which lines I have drawn! Would appreciate any others' views on the chart.

Will no doubt prove to be the wrong move but I am of a mind to stick with it for now.

[skyship] 04/11/2014 11:51

SB - understandable for those who bought in the sell-off down into the 180s. A turn is a turn; and in these Markets more than usually welcome.

[spittingbarrel] 04/11/2014 11:49

Well I'm only just back to break even on my entire holding so I'll hang on in there, a little worrying that smarter minds than me seem to be getting out.

[hpcg] 04/11/2014 11:22

I have succumbed to peer group pressure and also sold. These are being picked up without causing the market to blink though so if the market stay OK they will probably head up.

[cwa1] 04/11/2014 08:20

Yes, I've taken my ill gotten gains too :-) Probably too early as usual but I've had a much quicker and better rise than expected. Got my eyes peeled for a re-entry price though, as I like some of what I see here. Good fortune to holders that continue to sail here, of course.

[skyship] 04/11/2014 07:18

Nicely timed lads...I too sold a recent top-up, but will retain my core holding.