Inland Homes Share Discussion Threads

[kumbuka] 19/10/2023 09:34

Still hiding bully boy pj.

[eigthwonder] 12/10/2023 14:49

the CFO knew little either but did what was necessary for Wickes to do his deals. Never was the basis for a quoted company

[eigthwonder] 12/10/2023 14:47

Wickes was simply land wheeler dealer who knew little about actual accounts or finances.

[kumbuka] 12/10/2023 14:28

There had to be something wrong at the top for company in this industry to fail at this time. One thing we can count on bully boy pj will not show his face.

[shaker45] 12/10/2023 02:02

Yep that famous saying about recessions finding what auditors have missed. Many more failures to come

[kumbuka] 11/10/2023 14:06

Yep it’s gone GeckotheGlorious but some just don’t get it. Bully boy pj has kept very quiet.

[geckotheglorious] 11/10/2023 09:23

Inland is gone. There will be nothing for shareholders.
Not much news to come.

How did this happen - they got exposed to soaring interest rates and snail pace 'planning permits" which, when coupled with rocketing costs meant they were in deep trouble.

Like many other zombie companies around in fact. As we shall soon see with the incoming recession which is going to be anything but a soft landing.

[davidosh] 09/10/2023 21:41

Can we concentrate on Inland and any news.

Personally I would like to see the Administrators report and how this disaster unfolded in their eyes

[kumbuka] 09/10/2023 20:40

100% LOSS promoted by bully boy pj.

[kumbuka] 07/10/2023 12:38

Shareholders are bottom of the pile so they will get nothing. Ask shareholders that held PEL another that bully boy pj promoted and they got NOTHING.

[morro] 07/10/2023 11:06

Digger I think the chances of ordinary shareholders getting anything are remote. So ultimately the only possible thing the non-ISA shareholders will have is a capital gains loss to carry forward. As has been shown with the events over the last 12 months or so there are a lot of unknowns. I wonder whether some of the creditors will now take over particular sites based upon the contractual agreement when they lent funds.

[digger18] 06/10/2023 19:08

Sorry for my ignorance here, but are we likely to recover anything at all for common share holders? I assume not!!

[kumbuka] 05/10/2023 19:06

Another bully boy pj FAILURE.

Anything to say bully boy pj ?

[oi_oi_savaloy] 05/10/2023 14:09

That's right Scburbs - they acted as Development Manager, effectively putting their planning expertise in, with the actual owner paying for planning (and the site of course). INL then received various bonuses as the deal progressed. I might be wrong on the planning costs front - INL might have paid for them but the principle (in terms of the deal structure) is correct. INL didn't own the land at any point.

[scburbs] 05/10/2023 12:47

Didn’t they get planning for that though (and it was in AM business so not their capital)?

[oi_oi_savaloy] 05/10/2023 09:34

What really stuffed things was the Master Brewers site in Hillingdon (in between Uxbridge and Ickenham). That site had been a disaster for absolutely years before their involvement. Tesco had had a go (spending hundreds of thousands on planning etc etc) to no avail, I'd made an offer for it in, I think 2004/2005 when I was buying sites for a national builder but it was so politically tainted (I can't remember why but we swerved it once we'd established the planning landscape/narrative surrounding it). So when INL got involved with another party..........I knew I should have bailed at that point........but I thought that perhaps Hillingdon's planners might have changed their attitude to the site.............clearly not. And that was the end tbh - it coincided with covid then happening and really stuffing things. Council planning depts can't cope - they are inundated with planning applications/under-staffed/localism/nimbyism means more engagement is required which is a double-edged sword because the council's simply don't have the staff to engage thus everything is taking more time and they're using every trick in the book to push things out. Total shambles.

[shaker45] 05/10/2023 09:07

Apart from Wickes trying to be too smart with creative financial engineering, his bluster was not a great tactic with planners(I know they are very frustrating!!)
Then he over reached himself-and got trapped by the high rate scenario, shrinking margins and falling house prices. Shame. Used to be a nice little Business

[kumbuka] 05/10/2023 09:06

Bully boy pj knows how to pick FAILURES.

[scburbs] 05/10/2023 08:59

A terrible shame given they were really good at acquiring/controlling great sites and getting planning.

However, an inability to build houses without losing money and a rapid expansion of the loss making partnership building model were the key problems in my view. Together with a refusal (and too much arrogance) to recognise this (it was going on for years and years!) and stop those activities. No point making great profits on land sales and then giving them back in construction losses. Those losses then made it much harder to reduce debt without selling key assets which they weren't prepared to do.

Then add in a capital light asset management business reporting fees/income (appearing to offset building losses) well before cash flow and follow it up with a downturn that means those projected fees/income were vastly inflated and will largely never turn into cash.

Hope anyone in the ZDPs got out before they were suspended. I wouldn't want to be one rung above the equity, although they may get something back depending on how much of a fire sale it is and how overstated the asset management income really was, but they will be losing money at a very rapid rate now.

[davidosh] 04/10/2023 15:36

How could a company that gained a prize site like Wilton Park go bust !!?

AIM-listed housebuilder Inland Homes has sold 94 plots at its Wilton Park development in Beaconsfield, Buckinghamshire, to Bewley Homes.

Inland Homes did not confirm a price for the sale but said the deal had been done at a premium to EPRA valuation. The sale covers part of phases one and two of the 147-home project, which has an estimated GDV of £288m.

The deal should complete in September, with Bewley paying two-thirds of the price in cash on completion and the balance up to a year later.

[geckotheglorious] 04/10/2023 14:22

triskelion
Your guess is as good as mine..
UK National Debt £2.3trillion +
US $34 trillion.
World simply overly indebted. And it wont end well.

[triskelion] 04/10/2023 13:53

@GeckotheGlorious
how much of that supposed "debt" is in respect of new ledger credit created on a multiplier basis and the interest on it? Building societies lend existing moneys, conversely banks create money whereas they should be merely its brokers. See Bank of England 2014 paper "Money Creation in the Modern Economy" by McLeay/Radia/Thomas.

[cayenne45] 04/10/2023 11:56

Probably the good fairy who will wish away the clear and obvious signs that this POS was ever going to turn around.
There is a guy who was always on the Daily telegraph posting about the size of his position in this thing.
It is a another example of put a bit in, if it trebles brilliant or it might disappear, it's impossible to apply strict stop loss ideas to these things but some metric needs to be applied but it's each persons management.
The directors are most likely both dodgy and deluded, who's going to unbundle which part is bigger, the Administrator will finish it off by milking the last drop of blood.
This is a case of come to terms with the facts sooner and move on.

[jaknife] 04/10/2023 11:33

Morro,

"It will not be a surprise to see legal action against Wicks, Malde and the auditors"

Who from?

JakNife

[geckotheglorious] 04/10/2023 11:00

Spob
"The global financial system is built on fake money. In 2008 we saw the result.
Nothing has changed since 2008"

Agreed. Nothing has changed except the Debt is now even larger!
Essentially National debts are now at the level where they will never be paid off, ever.