International Real Estate Share Discussion Threads

[ydderf] 20/1/2006 14:37

long way to go yet imho

[gelp] 20/1/2006 13:01

Well done boys!
Christmas has come early this year.
Now what's the REAL value!!!!!
Worth the sweat!!

[mrwhits1] 20/1/2006 09:19

just announced they have settled out of court here,



up 5% already.

regards

[gelp] 11/10/2005 20:56

Nice one Rolph - How come Jermyn Business, a company controlled by the Chairman Rolph Nordstrum family buys another 12% at 145 in tightly controlled situation and the price does not rocket? Normally small deals make the price move.
Now holds 76%
Announcement was 3pm has no one else noticed?
Surely you do not have to be Inspector Poirroit to detect that something is smells good.
7.7% was held by Butler Finance so but leaves another 5% to have been taken IF Butler sold that chunk - if so why no declaration , and again why no upward movement.
Surely leading up to an announcement re planning for the Brussels flats, those bargains in Germany & the 4 month deadline on the Yanks, together with this insider purchase we have a gem of a company.
Last share by back was at 85. This deal at 145. Someone is shutting up and putting up!!
There are 2 unknowns - the real value of the assetts if maximised, ie selling of flats and the hundreds of flats bought in bulk and the litigation liability.
Time and again we have been told 'no provison because directors do not believe there will be any material loss'
Am I over optimistic?

[ydderf] 09/10/2005 08:44

nice one freddy!

[gelp] 23/9/2005 01:24

Interims:More smart moves on the German front!
4 months to mediate claims in USA - that runs and runs!
Private? I wonder.
Report is pretty up beat despite the litigation, and what is certain is that all disputes eventully get settled one day.
If German election causes uncertainty then perhaps IRE will go to more Auctions.Certainly seem to have a confident mover in Germany & they were definitely one of the first to spot that the market lags the rest of Europe and is safer than the possible new entrants to the commumity. Great yields and div held again.
I wonder what the assetts will be at year end!!!
Good luck to all!

[popstar] 23/8/2005 16:35

I think they plan to take it private... who owns the big (private) investor Jermyn?
If they go private before the resolution of the litigation there is potential for big gains for investors without the disruption of market forces and public scrutiny. The large (2m) share buyback facility plays to this...

[gelp] 23/6/2005 21:28

Encouraging news today.

[bisiboy] 10/6/2005 18:45

im still in!
and looking to pick afew more up
germany is the plce to look at the moment there are some very savvy investors
buying apartment blocks out there on these sort of yields.
hope to see more ofn these type of deals

without litigation these are a complete no brainer.

[gelp] 09/6/2005 21:31

Is it ´"ruddy massive"? the Brussels deal, the German purchase,the cash - do they count for nothing. The cost per unit of property looks minute by buying in bulk and with Germany instant yield & ´more to come´
Whats the gain on break up(my words) of 180 units and the gain on the Brussels deal likely to be.
Note flats are highlighted / classed as current assetts in the statement deliberately.I wonder why.
I was at AGM, upbeat more so than previously. still with caution on the case.
YdderF was right at 80p, are you still in? and Simon are you still in?
Has any one seen the German flats?
Litigation still a concern, but the assett growth surely is moving better than one dared hope a couple of years ago. Despite the concerns. And that is the result of Good stewardship today, whatever happened in the past.
Any views welcome re the present value.

[gelp] 09/6/2005 08:54

This looks another good deal on top of the Brussells one.

[gelp] 09/4/2005 10:15

seems to be firming up ahead of move to aim - not sure why - california for next round of saga - no win no fee I hope - hope to live to see result !

[topvest] 16/3/2005 09:30

Tax charge was enormous on the ITT Tower sale. This company is a punt on the litigation. If they lose, all shareholder value disappears - e20m. To me that underlines that the legal agreement shouldn't stand as it was not a credible transaction.

[gelp] 16/3/2005 09:10

todays news!
Net assetts e2.81 e and cash of e27 million. Will reduce costs on Aim - sensible - sure shadow of litigation ( again - no material affect expected stated ).
but what about the value of of the Brussells site in 2 years?
Does any one doubt that potentially further deals will come.

[gx5729] 08/3/2005 16:20

I have been following ire or criterion or prior for many years and it makes a good storylooks like they have finally come unstuck by the yanks

[gelp] 22/12/2004 01:31

I don't think the disposal was confusing - a little entrepreneurial maybe - The business can`t be more simple - only one major property left - cash in the bank and a new deal - 2 employees - not a lot of cost there!
what was missing was the `unrecognisable trading assett value` which was a feature of other statements but don`t lets get hung up about a pruudent message - that may come later. But why does no one comment on the latest purchase - credit when credit's due surely - if and when flats are built surely massive impact on assetts.
The CCL is the real mystery - not sure I call it fun though!
Oh - and its assetts are Euros! The accounts do show figures for assetts and they do not 'believe litigation will make material difference so no provison....' depends which advisor of course!
ydderf is THE man on this thread - well tipped at 70 july 5th!
dyor imho etc.

[topvest] 21/12/2004 21:54

Bisiboy - Clear as mud this one. No idea what NAV is - anywhere between 0 and £5......probably! lol! It's either a bargain or very expensive. Recent disposals were about as confusing as you can get. The compounding contingent liability also adds to the fun! Still got a few of these - taken the view that I will keep until the end of the litigation. On balance, I think there is probably value....but only 60:40 chance imho.

[gelp] 21/12/2004 20:41

bisiboy.

You really need to look at the last couple of years announcements and BB to make sense of it. Interesting reading over Christmas. Sure plenty of assetts but litigation hangs over
www.ireplc.com - good biograhic information shows the Europe property experience.
Perhaps someone in Belgium would take a look at the Brussels site and give an estimate of the resale value of flats when complete.
Has Brussels hit it`s peak in property prices - as long as European Countries increase (Turkey!) surely demand will rise?

[bisiboy] 21/12/2004 18:49

i am just trying to get my head around this
unless i am completley out post sale of brussels property
cash is circa 40mil euro or around 5.50 per share
have i got it wrong ?

[gelp] 17/12/2004 08:46

Todays purchase announce in Brussels. 28 'plots' at £45k each with PARKING centre of Brussels - thats cost of the parking spot alone in London.
Paid cash!
Does any one know the area? - sounds prime from description.
Belgium attracting loads retire businessmen to save CGT as well as high earners from European community - Bless 'em!
Carry on regardless!

[gelp] 14/12/2004 16:55

430k shares now cancelled - no sign of news re case though.

[gelp] 08/11/2004 09:30

still buying own shares!

[gelp] 18/10/2004 21:27

answer myself. they all eventually show i think but sometimes the sells get mixed up with buys - and for every buy has to be a sell. anyway more shares bought in today making 441000 since they started this programme in last few weeks. no sign of director sales but some one somewhere must be selling. someone at IRE clearly still thinks it`s a good idea win or lose or settle case.
I wonder if company will get the divi expected next week.

[ydderf] 04/10/2004 14:50

with the company buying in shares, the downside would appear to be infinitesimal...........and the upside should now take care of itself