First Property Share Discussion Threads

[catsick] 31/3/2016 09:55

Nice new deal 30pct return inc fees on fpos cash contribution and in rffect another 24m euro of aum ... Very nice

[jimmywilson612] 17/3/2016 17:16

Some interest in these shares at these levels it seems from one of the big holders:

New Pistoia Income In November 15 - 9%
New Pistoia Income as of 15th March - above 14%

Roughly £2.7M in value over the past few months

[yupawiese2010] 16/3/2016 18:31

Ben Habib was talking to Share Radio at the beginning of the month, nothing new was said that long term holders are not aware of - just background details regarding the group.

[yupawiese2010] 03/3/2016 19:49

Poland / Romania 2016 economic data.

[yupawiese2010] 25/2/2016 23:15

Sadly we didn't win the Property Manager of the year award held at the Marriott hotel in London this evening.

Whilst we have been discussing exchange rates in earlier posts, we must not forget that FPO use the AVERAGE exchange rate covering the financial period, so not all the currency gains whether income or NAV of our Eastern European properties will reflect sterling's recent sharp decline against the Euro, when our financial year ends on the 31st March.

But if sterling remains at this level , the following financial period would also benefit.

[jimmywilson612] 24/2/2016 12:38

"LONDON (Alliance News) - Property fund manager and investor First Property Group PLC said on Wednesday partners in UK Pension Property Portfolio LP, a fund managed by the group, have agreed to extend its life by five years to 2022.


First Property Group said the fund, which was due to mature on February 5, 2017, will now mature on February 5, 2022. UK Pension Property Portfolio owns twenty one properties worth around GBP100.0 million and generates a dividend yield of 6.5% per annum for its partners."

Along with the income, the NAV will increase as well. which will bring up the copper bottom!

[dorset64] 24/2/2016 09:26

Good points about the exchange rates turning in our favour and thanks for the property manager of the year heads up as, if we get that it will again raise the profile of First Prop even further.

Heres to the upcoming results.

[catsick] 24/2/2016 09:13

Neen buying some more of these now the price has pulled back, a large chunk of the income is non gbp so so the headwind that had been reducing the excellent results is now going to flatter the next batch of results.... I am sure after they report next week we will get the usual glowing write up by simon thompson in the IC followed by a sharp rise in the shares

[yupawiese2010] 10/2/2016 18:37

Fprop shortlisted for property manager of the year, results to be announced on the 26th Feb.

Hopefully that will give us greater exposure to get F.U.M.

[yupawiese2010] 09/2/2016 19:16

We have been going into severe head winds for the past few years, in respect of the £ - € exchange rates, but the pendulum has now turned in our favour, with the exchange rate now at 1.275, that's a c10% fall in less than 6 weeks

[jimmywilson612] 07/1/2016 17:55

To break it down:

Lidl as the tenant across 9 stores

€1 million invested along with €6.5 million bridging long to be refinanced by a bank over the next few months whilst acquiring 4.95% interest while we wait.

Once the loan has been completed and cash returned to FPO. 4.95% interest rate set against a 11% yield.

€1 million invested for €305,000 back (including management fees.



Once again a very shrewd deal in my opinion

[jimmywilson612] 07/1/2016 17:48

First Property Group plc
New investment by the Group in Romania

First Property Group plc (AIM: FPO), the property fund manager and investor, announces that it has, in conjunction with a club of investors, acquired a portfolio of nine regional Lidl supermarkets in Romania at a cost of €10.5 million. The net operating income being generated by the properties is currently €1.16 million per annum, equating to a yield on purchase costs of around 11% per annum. The weighted average unexpired lease term of the portfolio of properties exceeds seven years.

The investment was part funded by equity of approximately €4 million, of which the Group invested €1 million, pari passu with other investors. The remaining equity was invested by a family office and other third parties.

The forecast annual pre-tax profit from the investment is circa €720,000 per annum, of which the Group's share would be circa €180,000 per annum, equating to a pre-tax rate of return on equity of around 18% per annum.

The Group will, in addition, earn management fees of some €100,000 up-front and €125,000 per annum.

The balance of the funding required, of €6.5 million, was provided by the Group as a bridging loan with a view to this being refinanced by a bank in the next few months. Terms for the refinancing of the Group's bridging loan have been agreed with a bank and the bank loan is currently being documented. The bridging loan by the Group was made on terms broadly equivalent to those agreed with the bank, including an interest rate of 4.95% per annum.

The cash position of the Group following this investment amounts to just over £8.5 million. This will rise to over £13 million once its bridging loan has been repaid.

Commenting on the new investment, Ben Habib, Group Chief Executive, said:

"I am very pleased by the investment made by our clients and ourselves in this portfolio of Lidl supermarkets. Lidl is a leading retailer in Romania with a stated intention to grow its business in the country and these supermarkets are well located for their purpose."

[jimmywilson612] 18/12/2015 11:30

If this share was a women, I would be filing for divorce, you beautiful beautiful thing

[dorset64] 17/12/2015 11:11

Hi Darius, I think the recent drop below the 50p mark was a good time if any to grab a few more if you were thinking of it.

Good steady growth in all areas for years and regular dividends, incl the share price with no surprises, not many shares like that around today lol

[darias] 17/12/2015 06:51

Still here. Waiting till the buying stops and people taking profits so I can buy more.

[dorset64] 16/12/2015 23:07

You gotta love this share and still nobody here?

[jimmywilson612] 26/11/2015 20:03

But looking further - still very cheap in my opinion:

(Using today's figures)

Market Cap = £53.96M

Net Assets = £32.06M
Cash in bank = £14.2M

Effectively you are buying a clearly knowledgeable management team generating £5.93M profits in 6 months with a healthly dividend yield and operating in a fast growing market for less than £10M - I know there are worst investments out there!!

[jimmywilson612] 26/11/2015 19:58

How long will this nice trend up continue? Excellent set of results even with the £512,000 drop due to weak euro.

[trasenster] 26/11/2015 14:18

listened to the presentation this morning. Slide presentation now on their website. Outlook very encouraging. IMHO Ben Habib really understands his market and how to develop/grow the business.

[darias] 19/11/2015 09:22

All time high.

JP Morgan may be right. I have held for many years and bought at regular intervals. It will take a lot more than 50% gain since December last year to make me sell.

Will add on weakness.

[jimmywilson612] 14/11/2015 19:08

First Property Group (LON:FPO) Overweight Rating Reaffirmed by JP Morgan Cazenove; With GBX 162.00 Target

Read more: hxxp://www.octafinance.com/first-property-group-lonfpo-overweight-rating-reaffirmed-by-jp-morgan-cazenove-with-gbx-162-00-target/270246/#ixzz3rUiNDYk4

Target of 162, I wish!! Showing some good gains here for me and its my best performing share at present.

Results on the 26th - Anyone else here care to share where they see this going in the next 12 months or so?

[dorset64] 29/10/2015 15:00

Am only surprised that not many others have been in FPO for years like a few of us have. Regular divi payers and increasing the share price year on year. Good balanced company imo.

[jimmywilson612] 29/10/2015 13:09

David Cameron’s decision to make the permitted development rights program permanent could benefit First Property (LON:FPO) but its chief executive is remaining grounded for now.

Yesterday, the Prime Minister said the temporary rule, which allows companies to turn unused office space into town and city centre flats without applying for planning permission will be made permanent.

Cameron said: “My government will do everything it can to help people buy a place of their own – at the heart of this is our ambition to build 1mln new homes by 2020.”

Almost 4,000 conversions were granted between April 2014 and June this year and so far First Property has used the scheme to create 665 affordable flats.

Speaking ahead this week’s Housing and Planning Bill, Cameron said key to the initiative will be local authorities, which must show a plan for housing creation by 2017.

Ben Habib, chief executive of First Property, said: “If the temporary legislation is simply made permanent without any bells and whistles attached, that’s extremely positive for First Property Group.”

He added: “What I fear though is that, in making it permanent, the government may attach certain conditions for example that local authorities will have the right to determine whether or not to grant permission.”

Any conditions that allow the local authorities to use a subjective judgement “compromises the legislation” he said.

At the moment, the company has not applied for any new contracts, but continues to monitor the market.

Its last PDR property was sold earlier this year and until the legislation has been set out in full, it will not contractually commit itself.

“The government has been extremely slow and I don’t want to over-egg it until we have clarity and I don’t know when that will come” Habib said.

Meanwhile, in Poland and Romania, he said rents continue to rise, with tenancies being renewed as soon as they come up.

Habib said the company is borrowing money at around 2-3% while maintaining returns of around 10%.

hxxp://www.proactiveinvestors.co.uk/companies/news/116162/david-cameron-s-housing-plans-could-boost-first-property-116162.html