Gs Chain Share Discussion Threads

[harrogate] 01/6/2007 13:10

Another great week for GSC.

Shares are now closer to nav than they have ever been I think. Not sure what upside there is from here in terms of revaluations unless the hotel produces something big when it is revalued once refurbished.

Yields are coming back now interest rates are going up so the "easy money" has been made but they do seem to be good at what they do -

Not selling but I think the move to £5 will be a lot more difficult and a lot slower than the move from £3 to nearly £4

[harrogate] 31/3/2007 21:15

Egoi

Hi there - found this in late 2004 and it has been my most pain free holding ever -

No need to sell yet that is for sure

[egoi] 31/3/2007 16:31

Interesting to see virtually all 'old hands' here! I bought into this two weeks after float - dubious honour of being first ever 'public' shareholder! (Yield on my average buying price now something like 8%! :) ).

Nothing but great management, good newsflow and steady growth since. They started quoted life in 2003 with a market cap of under 4 million, shareprice of 40p and a nav of under 10 million. Changed days!
Up till now I have resisted the temptation to post on here, but this story is so good it needs sharing! In my view it has been Plus-Quoted's (Ofex's) top flag-bearer in recent years.
And it remains a core holding, and still for the long term. I keep in constant touch with management, at first I thought they were aloof but as you get to know them you realise just how streetwise and smart these people are.

Yesterday's deals are typical and there are a handful of committed followers at Fool; Marben wrote this about yesterday's deals:

'I can understand Carmensfella's fondness for the Rubin brothers more and more and am glad that I doubled up my GSC holding last month.

If we value the new shares at the current offer price of 340p, the effective cost to shareholders is actually £3.73m. At the quoted consideration of £3.85m, the new properties rental yield (before the pending review) is 6.4%, whereas that of the property that they sold was 5.6%. At the "effective cost" the yield of the new purchases is 6.6%. Good business.

Looking forward to GSC's results. Last year they were issued on 31st May.'

Right, Right and Right again Marben.

Another has suggested there 'might' be a trading update in late April; given the news of yesterday's - underwritten - placing at 400p against a share price of 335p, I somehow doubt there is much to worry about, and the significance of that should be clear to all. And anyone interested in taking over now not only has the Rubins to answer to but the goalposts have moved to over 400p. (I don't think they would sell, given the whole - large - family is involved in the shares).

However my one note of caution; as I understand it there wasn't a full revaluation in 2006 so the upcoming results may not show much change in the 345p nav.
But I expect Bournemouth site when redevelopment is complete will show in the region of a 15 million increase in value - that would by itself take nav close to 500p a share for the 2008 numbers.

Of course if you think commercial property will crash (I don't but accept some do!) then it's not for you.

Otherwise, this remains a top quality long term buy and hold. Class.

[harrogate] 30/3/2007 15:57

Interesting transaction today - purchase of properties for cash + shares at £4.00 - this must be telling us the shares are going up - last time they did this at £2.50 I think the shares got there fairly quickly.

I think we will be in for a run before too long

[liarspoker] 17/1/2007 11:37

Talk about the share price going of the chart..............boom boom.

[diogenesj] 17/1/2007 11:27

Nice work, harrogate. Only came across them a couple of months ago, but they are creeping slowly up and as you say they are certainly not volatile. We could do with another thread with proper charts - but perhaps there's no point if no one is interested.

[harrogate] 09/1/2007 07:44

Hi

Got into these about 2.5 years ago at £1.11 - They are my best ever investment - Only gone down on 2 days in that time!

I have to say that they had lagged behind other property stocks a bit but the majority of the increase in NAV from what they already own must be in the share price now - I can see £4.00 over the next year as I am sure they will buy something else and do seem good at increasing value on the stuff.

Can't see any great downside at current levels

If all my investments had been like this I would be typing on a beach somewhere.

[diogenesj] 08/1/2007 21:00

Up again today: no interest?

[diogenesj] 05/1/2007 21:32

Lol. Thought I might find some info here. These have had a good run and were nicely up today. :-)

[buffin] 01/8/2006 07:49

Still cheap, 267 to buy against 347 year end NAV, has announced hotel leasing deal this morning -



GSC LEASES BOURNEMOUTH HOTEL TO GOLDEN TULIP

In November 2005 GSC Property Holdings plc, the OFEX listed property investment
company, acquired the Metro Palace Court Hotel in Bournemouth for a total
consideration of GBP 14.0 million. The transaction included the purchase of six
adjoining shops, a casino and a car park.

GSC has exchanged contracts to lease the Metro Palace Court Hotel to Pilot
Hotels Limited, the UK franchise holder for Golden Tulip Hotels. Golden Tulip
is an international hotel group with over 260 hotels worldwide. The full
repairing and insuring lease is effectively for 35 years with the rent
averaging a minimum of GBP 1.01 million for the first five years. The base rent
increases annually in line with inflation; there is also a turnover element
that becomes effective from the second year.

Golden Tulip and Pilot Hotels will close The Metro Palace Court Hotel in the
autumn and embark on an GBP8 million refurbishment, the hotel is expected to
re-open in spring 2007. Whilst the hotel is closed the other operations on the
site will continue and the rental stream to GSC virtually covers the interest
payable on the original purchase.

Mark Rubin, Chief Executive of GSC Property Holdings commented:
"This is an excellent arrangement for both parties. Golden Tulip Hotels are
highly experienced and successful hotel operators and I am confident that
following the refurbishment the Metro Palace Court Hotel will be a flagship
property. When the hotel reopens GSC will reassess its investment to reflect
the significant enhancement in value."

[wiganer] 06/1/2006 09:18

well that didn't work....

[8 ball] 22/3/2004 21:32

On a day of red screens, This 10% rise today was very welcome.

[8 ball] 07/3/2004 19:02

Outlook. Your quite right please excuse my early hour posting.
Have updated the post in a more sober fashion.

[outsider] 07/3/2004 14:10

Debt is 13 million fixed for 25 years?


8 ball if you check the first announcement it gives the latest debt.

CREDITORS: AMOUNTS FALLING DUE IN MORE THAN (36,941,660) (13,089,781)
ONE YEAR



The market cap is less than £6m & debts are were £36m at latest figures produced, check first announcement......the gearing suggests it is very high risk play on the value of it's properties, could work out, may not.