Nordic Land Share Discussion Threads

[lopsidedgit1] 12/4/2010 14:12

looking very good now

[tomboyb] 12/4/2010 14:06

not much available online by the looks of it.

[tomboyb] 12/4/2010 13:41

NAV at last count 0.72p per share. during a tough 09. lete see what premium there is against an share price of 0.225p per share.

[tomboyb] 12/4/2010 13:34

TIDMNLD

RNS Number : 0389K
Nordic Land PLC
12 April 2010

?



12 April 2010


NORDIC LAND PLC

Engagement of DTZ to explore potential asset disposals


The Board of Nordic Land Plc ("Nordic Land" or the "Company") announces that, in
response to the decline in the Company's share price which continues to trade at
a significant discount to the Company's net asset value per share and in light
of signs of recovery in demand for prime real estate assets in Sweden, it has
engaged DTZ in Sweden to explore the sale of all or part of its property
portfolio in Sweden (the "Potential Disposals"). The Potential Disposals will
only be pursued if the assets can be sold at valuations which result in a net
asset value per share materially above the current share price, and would
require shareholder approval.


Further updates will be provided in due course.

Nordic Land Plc
Ray Horney, Chairman Tel: +44
207 367 8888

(c/o Bankside Consultants)

SP Angel Corporate Finance LLP
Robert Wooldridge/ Tercel Moore Tel: +44 20
7647 9650

Matrix Corporate Capital LLP
Stephen Mischler Tel:
[phone]

Bankside Consultants
Simon Rothschild / Oliver Winters Tel: +44 20
7367 8888


This information is provided by RNS
The company news service from the London Stock Exchange
END

DISLLFFFSAIFLII

[tomboyb] 12/4/2010 13:33

Potential Disposals
Date : 12/04/2010 @ 13:30
Source : UK Regulatory (RNS & others)
Stock : Nordic Land (NLD)
Quote : 20.5 0.0 (0.00%) @ 06:00

[lopsidedgit1] 12/4/2010 09:50

Regional Investment Information

The Nordic region provides open real estate markets with stable political situations, mature legal frameworks, excellent business information and experienced and skilled consultants.

The Directors believe that the retail investment markets of Sweden, Norway and Finland offer attractive investment opportunities for the Company. These strong retail markets are driven by healthy economic growth which produces strong consumer spend, good tenant demand and low void rates.

Over recent years, the Nordic countries have provided robust returns for retail property investors with total returns in 2007 at 18.7 per cent per annum compared to -6.1 per cent per annum for retail property in the UK. The Nordic retail property market is large and liquid: it attracts many investors both domestic and international.

[pillion] 10/4/2010 22:34

Very little info here



Timing of float not quite perfect either

Looks a tad Gordon Brownish to me

dyor, imho

[lopsidedgit1] 10/4/2010 20:28

Securities Information

As at 20 January 2009

Total number of AIM securities on issue: 19,859,561

Percentage of AIM securities not in public hands: 52.75%

Significant shareholders:
Name Percentage shareholding
Moore Macro Fund LP 26.4%
RYF Horney 1987 Settlement 10.6%
Guernroy Limited 10.6%
Cazenove Capital Management Limited 6.1%
Lynchwood Nominees Limited 5.3%
VP Bank 3.9%
Mr Rashed Abdulaziz Al-Rashed 3.7%

[lopsidedgit1] 10/4/2010 20:27

Investing in Nordic Retail Real Estate

Nordic Land plc is a Jersey-registered property investment company established in April 2007 to invest principally in retail real estate in the Nordic region, including Sweden, Norway and Finland. The Manager is Lathe Investments (Nordic) LLP.

In May 2007 the Company acquired an initial portfolio of retail properties in Sweden for some £50 million and is proceeding to acquire further retail properties in the region.

The Company's investment objective ultimately is to provide shareholders with attractive total returns over the medium to long term through dividends and increases in net asset value.

The Company's shares are traded on the AIM market of the London Stock Exchange.

[lopsidedgit1] 10/4/2010 20:27

nordicland.com

[lopsidedgit1] 10/4/2010 20:26

Chart-wise still trundling along the bottom. Should gap up soon.
Net Asset Value is 72p

[goz1986] 08/4/2010 10:32

hi buystock,
was wondering where you had gone, thought this one would take your fancy! you might find another board that I have just set up of interest, MCIL. it has just reported that spreadex has taken up a 19% holding and we all know that that means.......

[lopsidedgit1] 08/4/2010 10:06

Sicklaön 117, Nacka, Stockholm


The property is well-located in the Sickla shopping quarter which, as the main
retail location for the Nacka community, generates some of the highest sales per
square metre in Sweden. This area is amongst the most affluent regions in
Sweden, featuring high per capita income and strong population growth. New
retail developments and car parking facilities have recently been completed
adjacent to the building, and a new road connection is being planned.


The property comprises 3,500 m² of retail, storage and office accommodation in
one building, predominantly let to national multiple retailers, plus a villa and
land for re-development.


In the shorter term, we have a number of asset management initiatives in hand,
including improvement to the retail elements and a property cost reduction
programme so as to increase net operating income.


In the medium term, the site itself has high development value as and when the
market improves.

[lopsidedgit1] 08/4/2010 10:05

Lackeraren 3, Borlänge


Borlänge is a major regional town 120 km to the north-west of Stockholm, with
large corporate employers and a strong local economy. The property itself is
located next to the regionally-dominant Kupolen Shopping Centre.


The property comprises a prime retail and office park with four large retail
units and servicing areas, two free-standing office buildings, all of some
11,000 m², plus a 327-space surface car park.


The income is well secured by major national retailers including Willy:s, Rusta
and Expert.


Over the last six months we have built a new 1,130 m² retail unit, which we
pre-let to Expert, a major Swedish electrical retailer, and acquired additional
land so as to meet the required car parking standards. This project was
completed on time and below budget.


The development profit of approximately GBP915,000 is reflected in the current
valuation.


We are very pleased to have achieved this result, and to have further improved
the tenant mix at the property. We are now exploring the possibility of
extending the retail and office areas and acquiring adjacent land to enlarge the
car park area.


Potentially adding to the quality of the scheme and its location, the
Municipality recently announced that IKEA will establish a new 35,000 m2 store
next to the Kupolen Shopping Centre. We expect this new store to open in 2012,
and to be a major draw to the immediate vicinity.

[lopsidedgit1] 08/4/2010 10:04

Terminalen 1, Helsingborg, (known as 'Knutpunkten')


Helsingborg is a major port city in south-west Sweden, opposite Denmark. The
property itself is in central Helsingborg, unique for the area's transportation
systems, serving rail, road, ferry and bus routes, and in a prime office
location.


The building was constructed in 1991 and is the region's central transport
terminal.


Knutpunkten comprises the terminal area (which provides ticket sales, waiting
halls and a passenger link to the main Sweden to Denmark ferry terminal), a
shopping centre with a number of restaurants above, and offices in the 5-6
levels above. The total area is some 19,500 m².


Within the building are the main, west-coast-line, railway station and the
town's main bus terminal, both of which the Group owns.


The property also has a multi-storey, roof-top car park (303 spaces) and a
surface roof-top car park (399 spaces), which benefit from being directly
adjacent to the ferry and train terminals and which together provide a strong
income stream.


In total there are currently some 91 tenants.


The South Harbour area, directly to the south of the property, is expected to be
redeveloped into a major 'docklands-style' development (called 'H+'), comprising
1,000,000 m2 of land to cater for living, working, studying and leisure
facilities.


Knutpunkten is the 'gateway' property by virtue of its location and hosting of
the major transport links. In itself, it will be an essential part of the H+
scheme.


In addition to the H+ project, the railway will in the future be underground and
connect to new high-speed rail links. The construction of the railway tunnel is
estimated to start in early 2012, for completion in 2017.


This gives Nordic Land the opportunity to become significantly involved in the
development of this area, and to take advantage of the valuable opportunities
that should arise. We are particularly encouraged by our ongoing meetings with
officials of the Municipality, and are now fully involved in the Municipality's
H+ project team alongside other key landholders.


With regard to our asset management work, we have installed energy-efficient
equipment and are implementing an energy-saving programme, with the intention of
saving costs, thereby increasing net operating income and, as a result, the
valuation.


We have upgraded the lifts, which were in need of repair and renewal, and are
now replacing and repositioning the escalators so as to improve people
circulation and to create more valuable space within the building.


We have completed plans with our architects for a new, vibrant, restaurant area
at first floor level, and, potentially, new offices above.

[lopsidedgit1] 08/4/2010 10:03

Nordic Land's Portfolio


Nordic Land's assets comprise Terminalen 1 in Helsingborg, known as
'Knutpunkten', which is a regionally-important, mixed-use, retail and transport
hub serving the west coast of Sweden and Denmark, a prime-located retail and
office park in Borlänge and a multi-let retail property in an affluent part of
Greater Stockholm.


The portfolio is currently well secured on 106 tenants, of which 73% are
municipalities and national multiples, including market leaders such as Willy:s,
Rusta, Scandlines, Sportex, Espresso House, Expert, McDonald's, the City of
Helsingborg and Banverket (the state-owned railway company).


Retail leases in Sweden are typically fairly short, at between three and five
years, although terms may be longer (up to 10 years), particularly on new
lettings of larger retail boxes. It is commonplace for retailers to have the
right to renew their leases. Rents are annually indexed to the Consumer Price
Index every new year.


The quality and size of the tenant base is important to us in terms of providing
a diversified cashflow as well as opening up multiple prospects for adding value
on lease renewals.


Each of the Group's properties provides a range of profitable asset management
and development opportunities, which we expect to convert into increases in
cashflow and, ultimately, net asset value per share.

[lopsidedgit1] 07/4/2010 12:52

6.5% rise today. Looking good.

Net Asset Value is 72 pence

[lopsidedgit1] 01/4/2010 11:05

Blue. This could be the start of the climb back up.

[maltatrader] 31/3/2010 11:52

Lom....seems we are in the same boat as I am in IERE too...that should be a good 2-3 year play

[goz1986] 31/3/2010 11:42

I am afraid I have not really got my act together as far as doing any delving is concerned as up to my neck in work.....:( it will be interesting to hear what your friend has to say on the topic though.... will report back when I can be a little more helpful!
the average age of the directors is 63 not sure if that's a good thing or not!

[lomcovaks] 31/3/2010 09:15

I'll call a friend next week when he's back from holiday. He's a director of a large Scandinavian PLC with interests in Sweden, Denmark & Norway and run the portfolio holdings of Nordic past him to see if he's heard of them or knows the locations and is willing to shed his thoughts on the commercial property market over there.

If I do put anything the way of NLD it'll just be a very small side bet with no real expectation of success, it's just too small a player.

I've put a few thousand the way of IERE, a continental European play that's almost 10x the size of this tiddler and much more likely to improve its current NAV discount and start paying a divi again in the medium term future.

This looks tempting but needs much more research and understanding of the local market before I put money in.

Thanks for starting the board though.

[maltatrader] 30/3/2010 21:49

Lom....I started looking at it...there is no LTV covenant, however, the risk is spread in a small number of properties......seems one of the reasons for this discount to NAV.

[lomcovaks] 30/3/2010 20:30

Something can't be right here. I found this on a report on Swedish commercial property on Google dated June 2008:

In Sweden there are a number of listed property companies and in a recent report by Leimdörfer on the Nordic Real Estate stock market it is stated that the share prices of Swedish companies are now close to their 10 year average of 0.96xNAV. The Swedish market seems thus to have corrected its prices and should stabilize close to its current status. Furthermore, majority of these listed companies reported in their Q1 financial statements, that the market value of their commercial property portfolios has not been falling in 2008.

Nordic Land isn't trading anywhere near this level and I wonder about the quality of its holdings. NAI svefa had a 2009 analysis of the Swedish commercial sector:

'Yield requirements will continue to rise, but the fact is that we have not yet seen the full effects of what has happened in the market. There have quite simply not been enough properties sold to be able to say that yields have risen to any particular level. Naturally there are indications, and it is possible to make the assessment that it will continue in an upward direction. This applies in particular for lower quality properties in inferior locations. It is actually possible to ask whether there will be any market at all for lower quality properties in peripheral locations. It is going to be very difficult to find vendors and purchasers in these cases.'

Apart from the list of the few holdings belonging to this company can anybody comment upon the quality of the locations they're in? It would be a blind punt otherwise.

It looks tempting, medium term but I need to know more about the company.

Lom