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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Property Rec. | PROP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 15.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 15.50 | 15.50 |
| Top Posts |
|---|
Posted at 04/11/2010 15:55 by spaceparallax I wonder - were PROP to have been approached concerning purchase one of the sites, would they need to reveal that to the mkt or would they be allowed to keep it under wraps until some meaningful form of agreement is signed. |
Posted at 15/4/2009 10:34 by 9461dick Property Recycling GroupPROP Results due 27/4 Price has halved in last 12 months Sound portfolio of property Low borrowings Potential sale of Brigg site for £2 million Director buying Looks undervalued Fair Price at least 30p |
Posted at 01/1/2009 11:57 by lyntwyn Todays Times has PROP as 'tiddler to watch in 2009'- " although the property market is in bad shape,the group, flat at 12.5p, will be able to buy land more cheaply" |
Posted at 15/9/2008 10:16 by spaceparallax Looks like Prop have gone into hibernation. |
Posted at 18/8/2008 09:55 by spaceparallax Pug,It would stand to reason that Prop will be further affected. I suppose the one silver lining is that we don't also have lots invested in developments atop the land. |
Posted at 10/3/2008 10:54 by 9461dick Space,I am basing my comments on what I have read - particularly Hardman & Co report 19.06.07. which says "Most of its sites are carried on the balance sheet at cost, suggesting significant scope for uplift upon revaluation". You will see from the Prop website that they have carried out improvements to all of the sites since purchase (some of them several years ago). I'm not sure how it works exactly but I guess that there is no benefit to revalue sites regularly. However, the gains will appear at the point of sale. For instance the Stanton site was purchased in 1997 for £0.7m and now has planning permission for a large distribution warehouse that IKEA had an option on but did not take up. They are looking for another buyer and the sale price would be several millions. Does that make sense? |
Posted at 28/1/2008 16:28 by 9461dick Pug,I cannot disagree with you. I realise that the wider market is the cause of the decline in the share price for this company, I think it has been overdone. They have enough rental income to cover their costs and no borrowings. Their landbank was already undervalued and they won't overpay for more. They don't do many deals but the next one, buy or sell, will be a significant pointer to the future. 2007 results will be interesting to see and I hope they pay a dividend again. I remain optimistic and wish I could afford more shares! |
Posted at 15/8/2007 14:29 by gavis An article in a local newspaper today that Ikea have withdrawn plans to build their distribution centre at PROP's Stanton site. Therefore they have not taken up their option to purchase the site. I thought PROP might have issued an RNS today regarding this.I though that Ikea taking up their option may be a spark for the share price to start moving in the right direction. May not be too bad news for PROP in the long run as I am sure they will have other options for the site, but short term IMO it will not help the share price. |
Posted at 11/7/2007 15:40 by 9461dick Space,I have had difficulty getting decent news on IKEA performance, do you know a good source? In the Hardman report they think the site could be worth even more if IKEA pull out because of it's planning permissions. I am already sitting on a loss on PROP so I'm thinking to buy back in now and cover my losses with a relatively small increase in the share price - I know it is perhaps not the sensible thing to do but I feel it is a good risk. I think the share price would be fairly valued at around 60p |
Posted at 29/6/2007 10:17 by spaceparallax Morning Slap,Can't recall seeing you here before. I got out of PROP a while back, largely because of the mix of inactivity combined with it's enigmatic nature. Have recently noted the drift and am seriously considering reboarding because like you I feel that it could have virtues. |
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