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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| London & Associated Properties Plc | LAS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.25 | -2.56% | 9.50 | 09:23:56 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 9.75 | 9.50 | 9.75 | 9.50 | 9.75 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT & SERVICES |
| Top Posts |
|---|
Posted at 25/8/2022 10:36 by tim000 mrf, you asked about my largest holdings. Another highish risk/higher reward share that's one of my largest holdings is MIN. News is due fairly soon, I've met the Directors and they're confident of a good outcome. Book value of their property assets is multiples of their mkt cap. Worth a flutter if nothing else.You make an interesting point about BISI's deferred tax assets. Doesn't it depend in which country these assets reside? All the profits will be taxable in SA and I'm not sure that's where they have unused losses. My projections don't allow for any tax reliefs, if they have any it would be an enormous bonus. BISI was a lifestyle company, it's not now. I'm hopeful it will be run more professionally as it grows into a much larger entity. I think the Directors appreciate this, it's in their own interests to attract investors. |
Posted at 28/5/2019 16:44 by topvest Doesn’t bode well for the Sheffield retail estate. Makes you wonder how much retail space is going to end up on the lenders books. Being contrarian, it’s probably going to be a good time to set up an equity funded REIT to invest in distressed retail assets in about a year’s time. No doubt investors will be reluctant to invest though, but may be some bargains appearing sometime soon. Retail malls are going to be breaching covenants all over the place...they will be sold for a tiny fraction of what they were worth a decade ago. |
Posted at 12/2/2016 20:10 by jbarcroftr An awful vote of no confidenceSelling at a 50% discount to likely net assets It seems to me that the UK assets are ok No idea about the mad Coal mining venture The only hope is for a predator/ activist investor to climb on board The institutional shareholders might also wake up |
Posted at 06/11/2015 08:18 by jbarcroftr Share price continues to driftNo news that I can find And with the financing sorted and the assets fully let Time for an activist investor group or predator to emerge Perhaps the institutional investors will ask the board to wake up The share price must be almost at a 50% discount to net assets |
Posted at 07/8/2013 17:55 by skyship If it weren't for the ghastly corporate governance issues these would be looking rather attractive again:7th August 2013 - LONDON & ASSOCIATED PROPERTIES PLC: DISPOSAL OF TWO FULLY LET RETAIL PROPERTIES FOR GBP9.38M London & Associated Properties Plc ("LAP"), the focused retail investor, today announces that it has completed the sale of two fully let freehold retail properties for a total cash consideration of GBP9.48m. The properties, a Primark unit in Chesterfield and the Superdry unit in Windsor, generate net income of approximately GBP700,000 and were valued at GBP9.48m as at 31 December 2012. Proceeds of the sale have been used to pay down two debentures totalling GBP6.7m: a GBP5m debenture maturing 2013 at 11.3% and a GBP1.7m 2016 debenture at 8.67%. |
Posted at 14/4/2009 11:33 by ny boy Another no brainer here, investors will soon start buying, all the commercial property sector will recover very well this year. |
Posted at 05/4/2007 12:03 by sammu I guess we got some coverage in investors chronicle highlighting this valuation anomoly. I haven't read it though.Sam |
Posted at 23/2/2007 13:38 by sammu Did it get a mention into the Investors Chronicle? Anybody?Sam |
Posted at 29/1/2007 16:05 by sper courtesy of simon gordon from DTZ threadFrom the FT: Commercial property boom 'at an end' By Jim Pickard,Property Correspondent Published: January 28 2007 22:26 | Last updated: January 28 2007 22:26 The commercial property boom in the UK has finally ended, judging by new data suggesting that prices started to fall in the closing months of last year. The last five years have seen billions of pounds pour into offices, shops and industrial property as investors reappraised the merits of the sector. This pushed yields rent as a percentage of the price of a building to lower and lower levels, allowing many buyers to make small fortunes within months. But analysis of every deal done in the second half of 2006, covering £27.5bn of transactions, shows that yields have started to tick back up again. Average net initial yields fell from 7.3 per cent in December 2001 to 4.89 per cent in September 2006, but by December 2006 had risen to 5 per cent, according to agents Lambert Smith Hampton. The trend could spell bad news for highly leveraged investors who entered the cycle close to its peak unless borrowing costs decline again. Ezra Nahome, national head of investment at LSH, said that the turnround had been caused by the recent rise in the cost of borrowing. "I think we are at the end of the froth in the market, although an improving rental market may stop yields rising much further." Five-year swaps, which are the best indicator for borrowing costs in the commercial property market, have risen rapidly from 4.5 per cent at the end of 2006 to 5.65 per cent today. The sensitivity of property companies to borrowing costs was illustrated this month when the share prices of many were hit by the surprise increase in UK interest rates. Nick Leslau, a property entrepreneur, said sanity was starting to return to the sector. "We have seen a surprising number of large transactions which should have been exchanged before Christmas fall out of bed in the last couple of weeks alone. The market is a little spooked and interest rates have certainly not helped." It is understood that Dubai's royal family has just pulled out of the £500m purchase of Shell-Mex House, an office block on the Strand, put on the market more than a year ago. The LSH figures would appear to contradict those of the Investment Property Databank, the most authoritative source of property market information. IPD data show yields fell every month of last year, though this trend slowed towards Christmas. However, IPD figures are made up of valuations from across a range of properties that may not have changed hands during the period. Whereas the LSH data which look at actual deals may give a more up-to-date indicator of the market's direction. |
Posted at 27/11/2005 15:11 by westcountryboy The IC article is by Simon Thompson, who has set up as a superior tipster and has, to be fair, had a good record over the last year or two. He claims to have discovered an overlooked investment angle to LAS, viz the increased rent roll that the Windsor shopping centre will generate when it is redeveloped in 2006. He estimates that this may be worth 8-10p a share on top of the estimated NAV at end of 2005 of 120p. I'm not sure I would go so far as to say that other investors have not noticed this (Quantum Leap has been covering LAS for some time), but he is undoubtedly right to argue that LAS remains undervalued and that it has seriously good prospects as a medium-term holding. He might also have mentioned the share buyback at 104p a share, which I don't imagine the company did out of the kindness of its heart, suggesting that the directors thought that was an opportunity to get some fairly cheap stock. The price has been weak recently because of uncertainties about retail and because of the revision to NAV under IFRS. But I think Simon Thompson is correct to suggest that this has provided an opportunity for the patient buyer. I suppose there might be a sell-off on Monday, but personally I would not think of taking profits before at least 120p. |
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