Inland Homes Share Discussion Threads

[dt1010] 15/12/2015 15:23

90p is nailed to the tree then folks.

Nice 😛

[sogoesit] 15/12/2015 13:09

Simon Thompson in Chronic Investor today writes up a new target price of 90p.
Says Stifel ( whoever they are ) estimates a NAV of 93p with £88 million in hidden value to be revealed when EPRA accounting is done.

[sparkyhd] 15/12/2015 13:03

On Inland's investment in Troy Homes Stephen Wicks commented

- 50% owned by builders WE Black
- 25% owned by Inland
- 25% owned by management team
- MD of Troy is ex MD of Banner Homes that was very successful and got bought out by Carla
- MD of Troy has put a very good team together and they're all well know to Inland
- Inland like their current price point for selling homes nut Troy gives Inland a route to sell land/develop properties where a higher price point is more suitable

[source] 15/12/2015 12:29

Look forward to it PJRegards Source

[pj 1] 15/12/2015 09:18

I shall try and add more detail at some point.

[jaws6] 15/12/2015 09:17

pj 1
Thanks.I missed coming there because of train.

[pj 1] 15/12/2015 09:12

My initial thoughts ref AGM FWIW (my first INL AGM)

Due to the good old A1 I was much later arriving than I hoped and was met with a warm and very professional greeting before the meeting. I would think well over 30 attendees plus BOD. It was by far the most attended AGM I have attended

The presentation at the beginning of the AGM felt rushed, spoken very quickly, so much so that it was hard to take notes, although it was a 'slick' presentation and extremely positive. I assume the Presentation will be on the Web Site at some point.

All motions passed with hardly a hitch although a number of questions were asked, I would suspect by long term investors who know INL very well. The BoD appeared very confident (as we expect) and at times humorous.

However, with ref. to the rushed feeling around the Presentation, the meeting closed with the BoD intention to vacate within minutes with little further integration as they had another (Board?) meeting to go to. I am aware though that some of the Directors have met PI's by other meetings/presentations recently.

I am amazed that a small Co. can get 30 stake holders in one room and not allocate enough time for those guests. Surely that would be a priority? However, after it was nice to put a face to 3 or 4 posters/investors

Note-this is not an industry I know well, so maybe my Brain computation is slower than most in the meeting.:-//

edit-actually my Brain is usually slower than most :-0

[ravin146] 14/12/2015 20:19

Sparkyhd would be interesting to find out who was responsible for the large trades last week. Thanks for update.

[dt1010] 14/12/2015 20:14

always takes a few days..trust me the big buyers are watching. always is a delayed reaction, as old watchers know.

[hornets89] 14/12/2015 19:34

Yes - I'm hoping for a delayed reaction over the next few days as it really was positive news!

[ravin146] 14/12/2015 16:48

Odd reaction to the upbeat statement from bod this morning

[impvesta] 14/12/2015 13:44

From page 18 of the Annual Report:

"Accordingly,after consultation with our advisers, we have decided to adopt
the accounting practices of the European Public Real Estate Association (“EPRA”) to address this issue. Specifically, the EPRA NAV measure highlights the fair value of net assets on a long term, ongoing basis. While not recognising unrealised gains due to planning gains in the income statement, the adjusted value of trading assets and land subject to planning gains would reflect their current fair value under EPRA’s NAV measure. We intend to introduce this additional disclosure for the six months ending 31 December 2015."

[sparkyhd] 14/12/2015 12:31

Not even sure it fair value. Could be market value? I was concentrating on the mince pies at the time.

[igbertsponk] 14/12/2015 12:23

Fair value will be very conservative though. As they won't be able to predict for sure how long and how successful planning will be. So will discount values a lot, perhaps even to the extent that recent acquisitions will be valued at less than cost !

[sparkyhd] 14/12/2015 12:19

Positive meeting as Inland go from strength to strength.

The high volume last Friday 11th was due to an institutional investor apparently, although Nish wasn't able to disclose who because the investor has yet to make their declaration.

Next year, by way of a note to the accounts, Inland will be declaring the fair value of their portfolio. Can't remember the name of the standard/convention so someone else will need to chip in here. This will give us greater understanding of the true market value of Inland.

[luckymouse] 14/12/2015 11:59

"The Group is on track to deliver another 'significant' set of results for the current financial year.

Sounds like they are going to smash it again :)

[loobrush] 14/12/2015 09:52

Great statement-and the site in southampton is a great site on the river-house prices in southampton, where I live, are moving up fast and they should make a pile on these.

[dt1010] 14/12/2015 09:50

Inland Homes PLC
(‘Inland’;, the ‘Company’; or the ‘Group’)

AGM Statement

Inland Homes, the specialist housebuilder and brownfield land developer, provides the following statement ahead of its Annual General Meeting to be held today, 14 December 2015 at 10.00am.

Since 1 July 2015 the Group has sold 244 plots across three sites for a total consideration of £21.5 million including 175 plots at the former RAF Stanbridge site in Leighton Buzzard, Bedfordshire. The Group has also achieved 74 private housing completions since 1 July 2015 generating gross revenues of £24.7 million. Forward sales stand at £21.7 million in respect of residential units reserved or contracted or being built to order.

The Group is pleased to confirm that it has signed an agreement with Southampton City Council that appoints Inland as the Council’s development partner for an 8.9 acre former brownfield depot site to be known as ’Chapel Riverside’.

As the Council’s development partner, Inland will be responsible for the delivery of a substantial regeneration of over 380 residential units and a marine based commercial development fronting on the River Itchen. The scheme will have a gross development value of over £110 million.

Inland is also pleased to confirm that it has received a resolution to grant planning permission for 95 residential units plus 4,000 square feet of commercial space at its prime development site at The Vale, Acton in West London, which has an estimated GDV in excess of £50 million.

A planning application has been made for over 400 homes and 60,000 square feet of commercial space on its 75 acre site at Aston Clinton, Buckinghamshire.

The land bank currently stands at 5,043 plots, 967 of which have a planning consent or a resolution to grant planning consent. There are planning applications submitted in relation to 1,079 plots and there are pre-application discussions on-going regarding a further 1,719 plots. Since 1 July 2015 we have received planning consents or resolutions to grant planning consents on 503 plots and 7,114 square feet of commercial space and we are targeting another 1,545 plots and 72,958 square feet of commercial space by 30 June 2016.

Stephen Wicks, Chief Executive, commented:

“The Group is on track to deliver another significant set of results for the current financial year.

“Our strategy of focusing in Southern England continues to position us strongly in our own market and we aim to take advantage of the current favourable economic environment to capture further opportunities.

[shanklin] 14/12/2015 07:36

“In the short run, the market is a voting machine but in the long run, it is a weighing machine.”

― Benjamin Graham

[source] 14/12/2015 07:33

Strong progress into this new year seems like it is continuing. Nice update. Not sure why Inland doesn't always respond to positive news though. Maybe today will make a welcome change!?Regards,Source.

[shanklin] 14/12/2015 07:24

But you have :-)

[nurdin] 14/12/2015 07:20

what a cracking AGM statement! Odd that no one has commented yet..

[davidosh] 14/12/2015 00:22

sparkyhd....The Notice of the 2015 Annual General Meeting, to be held at 10:00 a.m. on 14 December 2015 at Inland Homes plc's registered office, Decimal Place, Chiltern Avenue, Amersham, Buckinghamshire, HP6 5FG, can be found on the Company's website at hxxp://www.inlandhomes.co.uk/reports-and-presentations.

I am running a bit late on arrangements for my event tomorrow night so may have to miss the Agm but I know a few that are attending. The early start makes it difficult getting across london in the rush hour from Kent.

[sparkyhd] 13/12/2015 22:37

Just checking, Inland have moved office, right?