Panther Securities Share Discussion Threads

[simon templar qc] 25/4/2017 09:19

NTV

Just to let u know letting situation at Southport Arcade worse. The agent not updating the empty units properly there are more empty lets than on their site. I reckon its more like 13 or 14 now.

[ntv] 25/4/2017 09:15

results due soon
recent good news re buildings on a 9.5 acre site near maldon.
4 years rent and a chance to re let on maybe short term basis.looking at the redevelopment i guess there must be a chance to re develope the site as residential
croydon sale going through soon and maybe some news on wickford sale before to long
be nice to get a special dividend again maybe

[ntv] 02/4/2017 22:13

share price is the same as 10 years ago
not much of an achievement for property company mainly because of interest rate hedging
so if interest rates go up so do assets
weird i know

[ntv] 02/4/2017 22:08

waiting for the sale of the birmingham site to add to nett asset
southport reliant on beales, owned by perloff family
happy to sit tight and take the yield maybe another bonus dividend
share price not really moved for years

[simon templar qc] 26/3/2017 16:51

In actual fact I live in Southport so well acquainted with the purchase at first I thought the purchase was far too cheap on yield however like most High Streets Lord Street isn't the Street it once was. In the Victorian era apart from Glasgow and London it was one of the most fashionable streets in the UK but its lost out to both Liverpool and Manchester. If you need to shop for anything decent that is where the shoppers head for.

The units far to costly when you include rates and service charges even a small unit would cost north of £1,000 per week excluding any wages. Its a great complex however in the most prime area in front of the Town Hall and arts centre with heavy footfall.

I was surprised at the Pedlar family selling the complex but possibly they were concerned at the empty shops in the town centre and the difficulty letting such a prime unit.

If Beales was to close and its loss making that would be a major blow and the second largest unit Multiyork is also loss making!

Southport already has a large BHS which is standing empty in the other prime area with large footfall, Chapel Street in Southport.

[simon templar qc] 26/3/2017 16:51

In actual fact I live in Southport so well acquainted with the purchase at first I thought the purchase was far too cheap on yield however like most High Streets Lord Street isn't the Street it once was. In the Victorian era apart from Glasgow and London it was one of the most fashionable streets in the UK but its lost out to both Liverpool and Manchester. If you need to shop for anything decent that is where the shoppers head for.

The units far to costly when you include rates and service charges even a small unit would cost north of £1,000 per week excluding any wages. Its a great complex however in the most prime area in front of the Town Hall and arts centre with heavy footfall.

I was surprised at the Pedlar family selling the complex but possibly they were concerned at the empty shops in the town centre and the difficulty letting such a prime unit.

If Beales was to close and its loss making that would be a major blow and the second largest unit Multiyork is also loss making!

Southport already has a large BHS which is standing empty in the other prime area with large footfall, Chapel Street in Southport.

[ntv] 26/3/2017 08:46

probably the size of the units makes them difficult to let.
probably need to try and floor space bigger but difficult as a listed building
the yield was around 10% on purchase so not over demanding and i am sure they will come up with some sort of redevelopement plan in time to increase value of the site

[ntv] 25/3/2017 20:23

Beale probably like Bhs never adapted like Debenhams did as a department store
More food places in shopping centres are also changing their shape of tennants

[ntv] 25/3/2017 10:11

good start to the first half of the current year with nearly £2m in cash from vacating tennant
shame they couldn't turn the property over to residential as loads of building work going on the area at the moment
9.5 acre site must have lots of potential including significant uplift when redeveloped
£800k to come from property developer for croydon property
selling will get rid of overheads from empty property though they will probably have to start paying on first property after a few months if no tennants have not been found

[ntv] 12/9/2016 16:23

i saw they bought a property from palace capital
the property appears to be vacant and the cost was £200k

[ntv] 29/5/2016 15:59

topvest
that is mainly due to the high costs of borrowing and losses on the interest rate hedge
will the agreed refinancing deal reduce costs or not
no clear info so we have to presume not
clearly the building land in birmingham is worth a fair few quid and will hopefully lead to another special dividend in the next year or so

[topvest] 06/5/2016 19:28

Read the Annual Report. Always an interesting read.

Overall though Panther has performed quite poorly over the last 10 years. He's been caught in too may value traps for my liking... Beale being the obvious example of a company looking a good bet for insolvency, but with the prospect of some reasonable assets. Panther and Perloff himself seem to have paid the price on Beale - no doubt, we will make a gain overall, but I'm not sure its been a great move.

[rambutan2] 27/4/2016 17:12

Go on, you know you want to! With asset values, ASBOs, and anti EU arguments...

[playful] 26/3/2016 22:39

AP is a canny old soul and trousered Beale assets that produces a fair yield. It's a long term hold but just appreciate the entertainment you get from AP and no doubt his future campaign to exit the EU...

[ntv] 21/3/2016 02:41

TTHE BEALE PUCHASE LOOKS AN INTERESTING ONE PAYING 4.5M TO GET 650K OF INCOME
LOSING 200K FROM STORES DOS PUT A BIT OF A DAMPNER ON IT BUT IS EQUAL TO PAYING 4.5 FOR 450K OF INCOME SO 10% INITIAL YIELD.
85K POSSIBLE EXTRA RENTAL INCOME FROM THAT ASSET PLUS RENTING OUT THE SPACE
INTERSTING AS WILL BE THE TERMS OF NEW FINANCING AGREEMENTS
HOW MUCH WILL IT COST TO LOWER THE INTEREST RATES IE BANK FEES
THE BIRMINGHAM ASSET HAS TO BE WORTH A FEW BOB TOO

[topvest] 08/3/2016 21:00

Yes, agreed. Think this was all part of the asset stripping plan, albeit not sure why he ever took equity and preference shares in Beales as it was always going to end this way.

[huttonr] 08/3/2016 17:46

The Beales CVA presents an interesting situation with Beales effectively owned by Perloff and Panther seeing a reduction in rent. I suppose that he knows what he's doing and Panther will do OK from this, but ....?

[patviera] 01/3/2016 19:31

Dirt cheap

[jonwig] 24/1/2016 07:29

About same age as me, then.

[topvest] 23/1/2016 21:17

He's only 71 so he could go on for at least another 10 years before he retires. Property doesn't have to be too hard work! Hope he goes on for many years.

[jonwig] 23/1/2016 14:45

I was looking to invest here and looked back at his RNSs from 2007 onwards. He did amazingly well through the GFC and his only moan was the value of the loan swap, which I see still figures.

Every time I wanted to buy, I was quoted a ridiculous spread (on the phone, not online!) for a derisory number of shares: 225 last time I asked. Maybe there will be the chance sometime, but the othe possibility is that the magic will die when he goes.

[topvest] 23/1/2016 10:56

Yes, he's great. Always brightens up your evening when you have an amusing rambling to read.
Have you seen their head-office....very frugal.
hxxp://www.showcase.co.uk/property/88-94-Darkes-Lane/East-of-England/Potters-Bar/8736924
He likes a bargain!

[puffintickler] 19/1/2016 08:08

tradermel

I can confirm Andrew Perloff never fails to add a set of ramblings to his RNS. You may not agree with all of them but they are always amusing and thought provoking.

I hate to admit it but in a way they are why I invested here.