London & Associated Prop... Share Discussion Threads

[bisiboy] 30/12/2012 19:32

i see our leader received A Knighthood i am sure he deserves it but i hope we receive a divi before any further donations to the party.

[topvest] 21/10/2012 13:38

No, was thinking the same the other day. Maybe there will be an update before the end of October. I suspect an agreement will be forthcoming, albeit LAS can't be in the best position to negotiate good terms.

[bisiboy] 21/10/2012 12:15

anyone heard anything on refinancing

[topvest] 01/9/2012 12:47

A tough set of interim results, but appear to be just about holding their own. RBS facility renewal by the end of September is key. I suspect it will get re-financed as RBS won't be throwing in the towel on this one. No doubt, they will want their pound of flesh though.

[skyship] 30/1/2012 10:52

Almost - but not as much as IFD - 10.7% yield and a 41% NAV discount - held down at a false low by an insti tap. New investment manager Schroders now taking charge at a much reduced fee, helping to build the divi cover; and the imminent name change to reflect the Schroders management will soon help to change sentiment. A real bargain and low risk on all parameters - see post No.877 on the CP+ thread.

[sscrabble] 30/1/2012 10:46

Are these a bargain now ?

[sammu] 12/10/2011 21:52

They may well be value at this price, but
-cashflow and yield is still low
-they are highly leveraged
-they are slightly over headged
-there is no obvious catalyst to realise the gap to NAV
-decent but unfashionable assets
-controlling family shareholding

As tv says patience required.

[sscrabble] 07/10/2011 11:40

took a chance and bought another 10000 yesterday - they have GOT to be value at this price

[sscrabble] 06/10/2011 10:27

anyone any opinions on these - they look really cheap to me.

[topvest] 22/4/2011 07:32

Yes, undervalued but gearing and relatively low dividend account for that. On the positive side they have an excellent portfolio and a good track record. I continue to hold - patience required, but good value at a 50% discount. They should demerge the Bisichi Mining shares in my view.

[cb7] 20/4/2011 09:30

Pass! Perhaps its "off the radar"...or maybe the stake in BISI is strange for a property co and puts people off. It looks to me to be the cheapest of the lot by far, but its shareprice has gone sideways for about a year now. A valuation nearer 60p, ie 50% up from here would be feasible.

[red army] 19/4/2011 18:45

A NAV of 80p ish - why this share price of 40p ish???????????

[sammu] 01/9/2010 22:25

The overhedging is a bit of a negative if they continue to degear, but unloved and lowly valued.

[bisiboy] 21/8/2010 08:50

i agree and topped up very recently.

[topvest] 20/8/2010 13:52

Good recent disposal to crystallise value. Looks to me like they have pretty much sorted out their earlier net debt issues, and are sitting reasonably comfortably with high quality assets and a fair amount of flexibility.

[sammu] 19/8/2010 16:24

Results due at the end of the month.

As expected sale of Kings Road following redevelopment and letting, at fair price.

[topvest] 24/7/2010 07:38

Patience required I think. They seem to have managed their assets well so far over the downturn and finances look in better shape.

[sper] 23/7/2010 15:28

needs someone to start the ball rolling

[sscrabble] 23/7/2010 12:57

surprised this is not recovering !

[sscrabble] 07/5/2010 10:26

I obviously misread the results - the market must want a nav of £2 or £3 , or perhaps £10 per share - to want to give 50p a share !!

[sammu] 04/5/2010 21:32

Yes decent results and well recieved, Adjusted NAV 91.5p.

Given that property has continued to recover since the year end (IPD retail looks to be up about 5% in te first few months of the year), and we are still heavily geared - 220% ish, the NAV now should be around 100p now.

A bargain! - but there are plenty of property bargains around.

[topvest] 30/4/2010 21:00

Yes, looks pretty solid.

[sscrabble] 30/4/2010 07:41

results out - all good !!

[sscrabble] 07/4/2010 17:12

one transaction for 1.3 million shares today !