Quadrise Share Discussion Threads

[davidosh] 03/4/2012 14:46

Just an early date to put in your diaries....AW,RW and MP as the three main directors have agreed to put on a private investors final results presentation on Monday 18th June and any of you wishing to come along can email me or provide a name for the reception. It will be at the Quintain HQ at 4.30pm so easy for any working in London or making a special trip. That same day is our regular third Monday Mello dinner event so a chance to see another company at the same time. I can keep a running list here of those intending to come.

I suspect they will try to have the Agm this year at what will be the newly opened Hilton in Wembley but just a guess.

[rmillaree] 29/3/2012 14:35

Hello davidosh

That's the problem with the announcement today, the most important piece of info (price compared to estimate of book value) is sadly missing. This gives me the impression it is missing due to the fact that it would not be pretty reading.
Is it possible they haven't sold the whole site? i don't know.
Note that with the last disposal they in made November they made the point of advising that the sale was at profit of £3.5 million compared to book value.
Come on Rebecca you are well paid no excuses for not giving shareholders full and timely info.

[davidosh] 29/3/2012 11:48

In the 2006 Annual Report the Emersons Green land was listed as a special project with a valuation of £26m. Do we know what it was written down to in most recent accounts ? If the consent was for 2500 homes that is effectively just £5k per plot which sounds ridiculously low and if there is scope for £94m plus in build out value for overage in the deal I am surprised they cannot achieve at least £20m up front.

[rbcrbc] 29/3/2012 11:03

From 25th May 2011:

As at 31 March 2011, the Group had directly held investment properties valued at GBP805.6m. The revaluation movement in the 12 months to 31 March 2011 gave rise to a deficit of GBP54.0m (2010: surplus GBP7.5m). In the first half of the year, valuations declined by GBP63.6m primarily caused by write-downs on our assets at Corsham Street and Emersons Green.

In the second half of the year, valuation increases of GBP9.6m, mainly attributable to Greenwich Peninsula, partially offset the first half losses. The GBP34.5m fall in the valuation of Corsham Street was driven by a lack of interest in large schemes in the course of construction at a time when the funding markets were particularly restricted. This was made even more extreme by the residual nature of the valuation. We expect this asset to perform well in iQ, where we capture half the valuation creation and have an overage. The fall in value at Emersons Green arose because the assumption on affordable housing has moved to 28% without grant finance.


.......................


Quantum

31 March 31 March
2011 2010
------------------------- --------- ---------
Quintain's holding 50.00% 50.00%
Assets under management GBP22m GBP7m
Capital invested GBP9.4m GBP5.8m
Income generated GBP0.7m GBP0.2m
Contribution to profits GBP0.4m GBP0.1m
------------------------- --------- ---------

Our Quantum joint venture with Aviva is a fund still in its early phase with one large asset. Its major asset will be the Bristol and Bath Science Park which is nearing completion of the first stage of its development.

[rmillaree] 29/3/2012 10:50

Why on earth didn't they give us book value details in relation to this sale.
Ok we may be able to make an estimate by doing further research but i expect the company to give us this type info - it really isn't too much to ask for IMHO - grrrrr

[horndean eagle] 29/3/2012 09:17

I doubt it would be good news or else they would have mentioned it. QED is a dog with fleas run purely for the benefit of management.

[hugepants] 29/3/2012 09:02

anyone know the book value of this property?

[knigel] 29/3/2012 07:39

I wonder why QED never developed the 65 acres at Emerson Green they are selling today? I live nearby and the science park buildings are pretty impressive.

[jazza] 26/3/2012 16:29

Assuming they are still "on-plan", cashflow neutrality will be reached at the end of this week, with gearing set to fall in the new financial year.

Is that still the case?

[scburbs] 26/3/2012 15:58

Original expectation was an £18m inflow from the refinancing of Corsham St (now iQ Shoreditch). It is not clear whether iQ Shoreditch has reached practical completion yet, but the rooms are available for let.



"It is anticipated that £18.0m will be refunded to the group following the refinancing of Corsham Street property by iQ Unit Trust on practical completion of the development."

[davidosh] 23/3/2012 19:45

johnv...I do not think MMs hoarde much these days. I simply think very few are interested in QED these days as they cannot see where the news is going to come from that will kick the share price into action. There is no dividend to keep them warm so they go off to play the shorter term gains or nice dividends.

[johnv] 23/3/2012 13:23

Very depressing sp, but most probably a last desperate gasp by the MMs to scoop up before the future(hopefully) rise. Bouncing off the 100day m.a

[davidosh] 18/3/2012 19:35

No news here for two weeks so I thought it worth mentioning this...

The regeneration of Silvertown would be excellent news for the Greenwich Peninsula as it is just 200 yards across the River Thames and actually where the new cable car will link to.



High value apartments will be far easier to sell once developed if they have a vibrant area rather than derelict one for an outlook to the north east across the river.

It also suggests that money is coming to that region of the capital and will lift the surrounding area.

[aberdare] 06/3/2012 11:40

Ron I thought the last notification said that standaerd life had bought and gone back over 5% or have i missed something.

rgds

[ronwilkes123] 05/3/2012 17:51

laxey probably think little or nothing of that rns, a bit like their approach here imo, they seem happy to sit on multi million pound losses, lets hope they dont start going mental on the sell side like standard life

[redartbmud] 01/3/2012 13:03

The RNS says nothing in essence.
Wonder what Laxey make of it?

[ronwilkes123] 01/3/2012 10:21

the share price is insane how can the price have been 43p when both the bid and offer were at least 1.5p under this, mental

[scburbs] 01/3/2012 09:08

iQ's debt was also rather expensive at 7.8% and as the LTV is not that high (c.50%), I expect this to be refinanced (it is expiring in the next few months) at much lower rates. This (along with the solid rental growth) should materially improve recurring profits arising from iQ. I would have thought they would have RNS'd the iQ refinancing, has anyone seen anything in the press?

[scburbs] 01/3/2012 08:59

That would be an odd decision as the deal isn't really that material to the QED investment case.

One thing that is material is the performance of student accommodation with Unite results out today. The sector is still performing very strongly and iQ should get an additional boost when Corsham St is written back up on completion. QED's share of iQ's NAV represented 21p per QED share at 30 September and should be substantially higher in the next results due to valuation uplift and Corsham St completion (although the later benefit may not fully arise until the Sept 2012 valuation).

"Total returns have continued to outperform other investment property sectors with the Knight Frank Student London index climbing to 15.1% and the Knight Frank Student Regional index demonstrating 10.5% total returns versus the IPD All Property Index of 9%."

[redartbmud] 29/2/2012 21:22

I've got a bad feeling in my water about this deal.
If it is anything like beneficial to Qed we would have had some detail in the statement.
Might just take the loss on the chin & sell out on a good day for the market.

[corneliusvanderbilt1794] 29/2/2012 19:55

bit more info on the deal in that

[ronwilkes123] 29/2/2012 14:47

standard life wasting more of policy holders cash this afternoon i see. Why are they such obsessed sellers here. They have been sellers for two years now.

[maxcashflow] 29/2/2012 10:23

Davidosh:

Date: 27 January 2007
Retreat Venue: Badrutt's Palace, Via Serlas 27, CH-7500 St. Moritz, Switzerland.

He must have been fresh off the slopes ;-)

[eeza] 29/2/2012 07:59

But displays again the Bod's arrogance and complete contempt for s/hlders that essential info is witheld.