Mountview Estates Share Discussion Threads

[konradpuss] 05/11/2022 15:18

In respect of commercial properties the 1st.April will apply to existing tenancies.

Many people are going to get caught out - there are big fines as well.

[jonwig] 05/11/2022 14:55

This might help:

Minimum EPC rating to be raised from E to C. The plan is to enforce this from 1 April 2025 for new tenancies, and from 1 April 2028 for existing tenancies. The government says this would be sufficient to bring more than 90% of D-rated properties up to a C rating, as well as nearly 60% of E-rated properties.

There are some significant exemptions, which might help MTVW. Lots here:

[twells1] 05/11/2022 13:51

If I understand it correctly the EPC rules over the next several years apply to NEW tenancies only. So effect on current tenancies will be nil and obviously Mountview sells or does up properties when tenant leaves. This will have an impact on properties that they want to purchase however. In that 60% of rented properties fail the test I do not see how it can be enforced. For older properties it can takes months to make a property EPC compliant with new electrics, kitchen, bathroom and tenants having to move out whilst work is done

[konradpuss] 05/11/2022 13:26

God knows, however EPC requirements might.

They own much old stock which probably has very poor energy performance levels.

The EPC watermark next April will make many commercial properties unlettable. This will even have an impact at Canary Wharf where some of the early buildings are over twenty five years old. It is a smoldering time bomb.

[essentialinvestor] 05/11/2022 13:12

Is increasing EPC requirements a headwind for their portfolio?.

[konradpuss] 15/9/2022 19:12

Talisman is the William Peers group.

They are my bet to be the buyers the family (both sides) sell to. When? who knows.

[jonwig] 15/9/2022 18:43

I don't know how significant this is, but we have a holdings announcement:



Talisman Dynamic Master Fund increases from 5.06% to 6.26%.

Who?? Not clear if they're related to Talisman Global Asset Management, based in London.

[konradpuss] 10/8/2022 16:44

strathroyal, you mean regulated tenancies and life tenancies.

I still think the two sides of the family will both eventually sell to the William Peers bunch. Just my humble opinion.

[strathroyal] 16/6/2022 17:21

Provide so little information in their results summary that it is difficult to see beyond the headlines. At least the Annual Report fleshes this out somewhat.

It does seem that the number of ASTs available to purchase is diminishing so debts should continue to decline and the dividend increase. My only concern is that being a small operation by number of employees, can they increase sales at both auctions and private treaty? Over the years, I've watched their lots in the four national auctioneers that they appear to use and, over any 6 month period, there doesn't seem much variation.

[jonwig] 16/6/2022 07:50

FY results:



I'm a bit surprised at the reason for lower profits - that they couldn't enter properties during lockdown. Surely they could do essential maintenance on empty homes, and even on occupied ones if necessary? Maybe I've just forgotten what the rules were.

Anyway, they shrug that off and we get a much bigger dividend as a new base.

[tmfmayn] 17/4/2022 18:27

MOUNTVIEW ESTATES: £11m Special Dividend Accompanies Acceptable H1 2022 Performance And Could Signal New ‘Run Off’ Phase Leading To Estimated Returns Totalling £264 Per Share #MTVW

"Add the spreadsheet totals together and MTVW’s eventual run-off value could be £1,029m or £264 per share paid through dividends."

[m_kerr] 20/2/2022 14:16

on vacant possession, on my calculation their portfolio is worth approx (worked out as £665m value in 2014, times 1.5 as 50% increase since then) £997m (though i've crunched my own numbers based on the latest averages being reported across each region which gave £1097m - happy to be corrected here) . bearing in mind these assets are in the books at £398m, you're potentially looking at a minimum 100%+ premium. at the current rate of vacancy, the whole portfolio can be expected to be vacant in approx 32 years. based on some income and modest compound growth along the way, looks like a good stable asset for a long income fund or insurer to acquire?

there are a number of moving parts here (like the fact they're down about 300 units from 5 years ago), but the attractions here seem very obvious for secure minimum mid single digit returns over a few decades. i can think of many worse ways to spend a spare £536m.

[jonwig] 11/2/2022 07:20

Comment on 2021 AGM -



"Following the 2021 AGM, and as it has done previously, the Company identified as far as possible those shareholders who did not support the various resolutions and attempted to engage with them to seek their views. Those shareholders did not wish to engage. The Company remains committed to shareholder engagement and we will continue to offer to have discussions with shareholders and will take into account their concerns and considerations in the future."

Really odd. Clearly the dissenting shareholders will get nowhere without engagement. But also maybe Mr Sinclair's idea of "engagement" is not the usual one.

[ntv] 13/12/2021 16:00

interesting large trades over recent days,
I wonder what that is all about

[konradpuss] 25/11/2021 20:55

As I have said previously our illustrious Chief Executive is the spitting image of the late great Benny Hill. Well done for finding that picture.

[jonwig] 25/11/2021 20:09

Here he is;

[konradpuss] 25/11/2021 20:01

I could see our illustrious Chief Executive at the helm of a yacht. Captain's hat on and firmly aground!

[jonwig] 25/11/2021 09:44

Technically, they haven't earned 500p as eps are 290p, but they've rather underpaid in earlier years.

Not a yacht, I'd guess, but I'm sure the major shareholders have been in consultation about tax planning.

[greatgiginthesky] 25/11/2021 09:37

Maybe someone wants a new yacht? Or just taking the opportunity to get some value out before the extra 1.25% dividend tax kicks in next year.

[ntv] 25/11/2021 09:24

nice dividend

[jonwig] 25/11/2021 08:58

H1 results:



"Exceptional cashflows" so exceptional dividend (500p) with 225p indicated for the final.

[konradpuss] 12/8/2021 18:31

TMFMayn, just the same as in the Report & Accounts - "there is one in place".

[coolen] 12/8/2021 16:25

What are the rebels seeking to achieve ?

[tmfmayn] 12/8/2021 07:30

Konradpuss, what was the response to the succession planning question at the AGM?