Lxb Retail Properties Share Discussion Threads

[mad foetus] 24/9/2015 14:34

ignore this, load of tosh!

[tiltonboy] 24/9/2015 14:19

You can watch the proceedings via a webcast. Meeting started about 15 minutes ago.

[mad foetus] 24/9/2015 10:34

another director's buy. It can only be that while they do not have solid news about the planning permission they strongly believe it will be positive. Else why the rush of buying this week if the council is meeting today?

[eeza] 23/9/2015 20:17

Jam.

Tomorrow.


This time next year.

Rodney.

[badtime] 23/9/2015 20:11

Doh Tilts ...lol

[tiltonboy] 23/9/2015 19:21

Apologies all...it appears the council meeting is tomorrow!

[tiltonboy] 23/9/2015 16:23

A couple of decent buys gone through. I wonder if somebody was in the council chamber...lol...

[mad foetus] 23/9/2015 13:24

thanks tilts, no maths mistakes from me today

[jaws6] 23/9/2015 13:15

tiltonboy
Thank you.

[tiltonboy] 23/9/2015 13:13

We played well in the first half, but the half-time substitutions changed the game in favour of the other team from across the expressway. Disappointed to lose, but encouraged by the performance.

Your lot are flying!

Hopefully get a vote in favour, and a further push in the share price here.

[badtime] 23/9/2015 13:06

Thnx TiltsPs ..hope u r coping with the loss to the Villa :)

[tiltonboy] 23/9/2015 13:03

Living Villages, Truro.

[jaws6] 23/9/2015 12:59

tilton
is that for Truro ?
Higher newham ,wiloow Green ?
only if you know.
Thanks.

[tiltonboy] 23/9/2015 12:41

mf,

Council meeting today!

[mad foetus] 23/9/2015 10:26

And another buy for the director's pension scheme. I'm not sure what further clues are needed that this is materially undervalued. On the downside, purchases indicate that there is no material news known to the directors not yet in the market: it would be good to get the planning permission on Truro.

[eeza] 22/9/2015 09:33

Another Director buy.

[tiltonboy] 15/9/2015 22:26

I understand that B & Q are looking to downsize the store, which may lead to redevelopment opportunities.

[eeza] 15/9/2015 19:15

From iii

"I noticed Kingfisher results today talking of closing 60 stores as part of their overall strategy. They have already negotiated out of 26 stores and will progress the remaining 34!
I don't know yet but am researching if Greenwich is one of those stores.

Its very interesting taking a look at the sites on Google Maps,
and alos the history of IKEA development in the UK.

1 - LXB know this area like the back of their hand so if anyone can get value they can
2 - IKEA is an excellent long term operator and definitely increases value of the area IKEA only have 12 locations in the UK!

So what of this site.... well B&Q is currently their so in 1 sense it is strange to talk re opportunities as one would assume that B7Q just stay on site. A few of IKEA's stores sit along site B&Q. If this store is part of B&Q clear strategic plan then I think the rent will be going up and with new lease a reduced yield so possibly 20% uplift for B&Q.

the more realistic scenario is that B7Q buy out the lease - prob 3 years cost = £6m.
so LXB then have a blank development site beside IKEA + a cinema for a cost of c.£30m.
IKEA have paid £40m for their site so it is easy to see £10m uplift in this scenario which is realisable within 2 years - good deal LXB.

I am much happier with the purchase after research, and although I don't expect NAV to reach the 140p quoted. I do think c.120p share price is realistic as building works complete and CASH is transferred which will be excellent 18mth return in volatile markets.


All IMHO, DYOR + BoL"

[yupawiese2010] 15/9/2015 19:05

Winsome147.

Apologies for confusion this morning.

On the iii B.B , a poster makes some comments today on the B&Q site, not sure how accurate they are so dyor.

sorry advfn won`t allow me to post the link.

[badtime] 15/9/2015 12:27

Director buy

[mad foetus] 15/9/2015 09:49

I agree we could do with clarity about the long term future of the business. The Rushden Lakes project is supposed to generate at least £70m in early 2016 and they were talking about returning that to shareholders. There aren't many companies who will make such chunky returns to shareholders without being in wind down mode. I just wonder if the B&Q deal fell into the "too good to turn down" category: as the RNS says, Ikea is a massive driver of footfall and Greenwich seems to be in a sweet spot with lots of new properties being built. It seems a positive RNS to me, surprised that the share price didn't move up on it.

[winsome147] 15/9/2015 09:34

I realise that thanks, but LSE also reports they paid another 38m yesterday for the B&Q site next door to the IKEA site. Was that also part of the original deal?

I'm sitting on the fence on LXB at the moment. They seem like a bargain but only if they intend to fully wind down and return all cash to shareholders in medium term and also get planning granted for Higher Newham and update us on the current state of play with the Corton development.

[yupawiese2010] 15/9/2015 08:13

winsome147.

Lxb agreed to purchase this property way back in 2011 according to this link.

[badtime] 14/9/2015 18:25

Thought u might have sold on the bounce EEZA