Lxb Retail Properties Share Discussion Threads

[eeza] 15/7/2015 14:12

Exactly - this time next year, Rodney.

When the CEO will, once again, say, we just need another 12 months - because this time.......

[badtime] 15/7/2015 13:05

RE LXB future you might have to wait for the next AGM

[winsome147] 15/7/2015 12:18

The 75m value for Ayr and Higher Newham is a rough guess based on the value of the Higher Newham and Corton residential plots minus infrastructure costs. I read somewhere that the Corton site could eventully contain 2000 homes but I don't know if LXB own that additional land but that would be some years away anyway and could be part of the 10 yr plan talked about.

I forgot to say there is a big Asda in Ayr too. So the Sainsbury megastore would be the 6th big supermarket in a relatively small town. But there is also a Lidl in town. I'm not convinced Sainsbury would still be committed to what is now an outdated strategy for supermarkets to build megastores these days. However, nothing to stop the houses being built. With these 2 sites its the councillors and not the planners making the final decisions. The planners recommended approval of Higher Newham (which is seperate from Threemilestone) but the councillors as ever thought they were more qualified than the planners and threw it out. If they cannot approve the new road plan then it is dead in the water.

There is siginifacnt risk with the two sites facing further planning obstacles so on reflection I will wait for more news. I'm guessing we should have further clarity on both sites by October. Would be helpful to know if LXB intend to keep going for aonther 10 yrs to build out Corton or just sell it on to a developer.

[mad foetus] 15/7/2015 09:40

I too dug a bit deeper and was interested to see that the Ayr site includes a primary school and (from memory) 800 houses, whereas the Truro site is an amazing new community based around agricultural and sustainable living and education with Jamie Oliver's charity involved and the only problem seems to be agreeing on how the community can be connected to Truro itself (i.e. access issues across the trunk road). But in both cases I can see strong social arguments for why the schemes should go ahead, and it is worth remembering the Tory government and trying to rein in officious planning officers.

[badtime] 14/7/2015 22:03

Theres quite a few posts re latest opinion if you look at say the last three months...but judging by your posts today i think you've kinda made your mind up what you really want to do...or not do as i think is the case.
I'll leave it at that.

[winsome147] 14/7/2015 18:03

No helpful replies to my concerns on here then. Are most investors punting on this one based on headline cash returns or does anyone actually look in depth at the state of play with the assets? IC recently tipped as a high-risk buy. I wondered why until I researched the issues behind some of the sites. They may well come good in the end but dealing with planning committees can be like trying to negotiate with Alex Tspiras. Nothing can be taken for granted.

[eeza] 14/7/2015 17:10

No.

I can spell.

[badtime] 14/7/2015 16:32

You related to Eeza by any chance?

[portside1] 14/7/2015 16:26

those that pay tax at 40% have been sold a dud should of old out at 145p
like certain people did . you know who now they are waiting to buy back

[portside1] 14/7/2015 16:24

keep your eyes on the register to who is buying

[portside1] 14/7/2015 16:05

well the chairman is not giving out any investor info .
my view is he wants the share price down for family and friends to get in cheaper
just keep your eyes on the reg

[winsome147] 14/7/2015 15:40

I've been mulling over buying into LXB for a while but I'm wondering if they will actually sell their remaining assets over the next few years and wind up or if they will see their developments through to completion and not just to the full planning permission stage. Can any of the more long term investors on here enlighten me.

I also see that the latest interim statement hinted that there is a potential further uplift of 75m on the NAV if all goes to plan. Currently the share price is at around a 10% discount to current NAV. However, there still seems significant risk to their two assets at Higher Newham Farm and Corton, Ayrshire. The former's planning application was refused and they have just submitted a new one (even though their website actually says they are appealing the first one and are confident of willing the appeal - no such appeal was ever lodged as far as I can see). The Corton site could also be subject to court action by Ediston Properties because South Ayrshire Council admitted to flouting their own planning guidelines when giving the permission for Corton as well as a new Waitrose site nearby. Ediston have just dropped their case in court against the council re the Waitrose decision but the local press reports that they could still lodge proceedings re Corton. This may be avoided if the council follows through with their promise to Edison to treat everyone with a level playing field. Another recent press article suggests that Sainsbury's proposed megastore may not go ahead due to a change in strategy (which we all know about). It is stated by all parties that the Sainsbury megastore is vital to the Corton site. Without it is is a no goer. I know Ayr well and there is already a largish Sainsbury on the other side of the town as well as a Morrisons and large Tesco in town. With a new Waitrose planned within a mile of Corton, just how will another Sainsbury Megastore be viable in such a small provincial town? I see LXB have just lodged amended plans for Corton, which could take months to be determined and the Council is now on notice to do things by the book.

It pays to do your own research.

So I'm guessing that LXB's interest in these two sites is much more than 75m in total and if they both hit the skids then the current share price is fair price. I'm always on the lookout for undervalued companies to invest in. I really want to buy into LXB but need reassurance and will probably have to wait to see how planning matters progress. I'd prefer to hear that they have a buyer lined up for Corton, rather than carrying out the '10 year' build plan that is talked about for the site, otherwise it'll take a long time to reach that potential NAV figure.

[badtime] 14/7/2015 12:17

I only stay invested because of your comforting words :)

[eeza] 14/7/2015 12:04

Plenty of pain here.

But no gain.

[badtime] 14/7/2015 11:48

What's that saying..no pain no gain

[badtime] 09/7/2015 09:57

Eeza..lol..no boredom :)

[mad foetus] 09/7/2015 09:55

Thanks yupa, good to see such high quality tenants.

[yupawiese2010] 09/7/2015 09:41

Retail park final phase of construction.

[eeza] 09/7/2015 07:41

Nice call with BPTY, Bt.

Insider ??

[eeza] 08/7/2015 17:52

You've got more chance with BPTY than this.

[badtime] 08/7/2015 17:45

Eeza I bought som BPTY at 97p today lol