 Long ago a small flurry of commercial property agents decided to go public: and quoted. DTZ, Colliers CRE (UK), Fletcher King, Pepper Angliss & Yarwood (via Mercury Holdings - which had a go at Lee Baron but according to my contact there couldn't come to terms on price). I remember reading about Teacher Marks saying none of their partners could have written a cheque for £10,000 so going public would alter that - at the time I thought not a proper reason to go public. Thing is commercial property agencies would rather keep all the profit for themselves than dish it out as dividends to all and sundry.
As for Fletcher King rating valuation has a lot of competition and thanks to the VOA changing the rules is nothing like as lucrative as was; it alo takes a long time for surveyor revenue to come to fruition. I used to have a few shares but after a short while concluded the share price was never likely to soar.
My best investment was buying into CBRE Inc at the depth of the 2008 sub-prime crisis when its share price was equivalent to GBP £2.50. Unfortunately for family reasons I had to sell too soon, a pity because the share price rose to its previous height of $52 approximately (it's now about $83. Savills I had a go at and profitably, but long after I should've done but before the share split. |
I notice that is has been 21 years since I first posted on this thread - the good news is we are both still here, the not so good news is the investment returns over those years... |
Yes I have a decent sized holding
Hoping that the new largest shareholder will produce some action
Previously it seemed Directors first Shareholders second |
Anyone invested? |
Taken a while to say the least but that is red tape for you |
If they offer here I might be interested again
End of July now
Seems rather to long since the application supposedly went in but I know these things take time |
Well I wasn't expecting that reaction! |
Today's RNS from Great Portland Estates bodes well for progress here.
Toby Courtauld, Chief Executive, said:
"It is a significant achievement to deliver record leasing in a period marked by such economic and social disruption, which is a testament to both the quality of the spaces we have been delivering and the dedication and hard work of the GPE team. Absent a resurgence of the pandemic, our confidence is building for the remainder of 2022, as we expect the combination of economic growth, a return to normal trading conditions and central London's magnetic appeal to be positive for our markets."
GRE up 33% today on that news. |
new appointment still pending |
Seems to be taking for ever to sort. Red tape I guess |
Share options are OTT |
First part of a deal and at a premium
A good start |
Interesting.. will continue to hold and see where this goes. |
Deal or No Deal
it is taking a long time to decide |
Thanks Norbert. Three aspects to the valuation then (1) £3m of cash not needed for operations (2) the operating business which normally produces £300,000 - £400,000 per year (c) the quotation |
https://www.thisismoney.co.uk/money/markets/article-9776285/Bold-return-250m-property-mogul-Elliott-Bernerd.html |
Lets see what happens today - |
Last cash element was just a tad over 3mill around 3.1 -
Market cap around 4.2mill -
New big investor to come - |
Is cash nearly same as market cap? |
Friends in high places -
Instead his fortune is put at £70m. His most lucrative deal was buying a site close to Heathrow on the M4 for £8m with Elliot Bernerd and Lord (Jacob) Rothschild. Five years later, Lipton and his partners sold what had become Stockley Park for £356m. |
50-55 coming up - |
yabba dabba doo |
Max buy at 47p is 1500 shares -
Tight - |
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