Quadrise Share Discussion Threads

[quepassa] 18/2/2014 17:43

The Twitter tab on Quintain's homepage refers and confirms:-

"Delighted to be opening a new chapter for Quintain by moving to great new offices in Portman Sq this summer"


Nice to see Quintain rubbing shoulders in the same neighbourhood with bigbrother British Land.

A good move to the West End.

ALL IMO. DYOR.
QP

[quepassa] 18/2/2014 14:59

According to PropertyWeek.com , Quintain are moving to Portman Square in the West End.

Whether this is part or all of Quintain is not clear as I have seen only the headline not the full article.

ALL IMO> DYOR.
QP

[quepassa] 18/2/2014 09:21

A rare but good mention of Quintain in the FT this morning.

Page 20, Markets Section, the article is titled/sub-titled:- "Homebuilders and clubs team up - Living near a football stadium is becoming desirable."


The article continues, inter alia, that Quintain conducted research with Savills about the appeal of living so close to the National Stadium.

Savills are quoted in the article as saying: "The majority of feedback was positive with many respondents excited about the appeal of living so close to the National Stadium".

The full article is interesting reading.

In my view, the proximity of Quintain's development right next to the iconic Wembley arches and spiritual home of football is a unique selling point and should very much add to the attraction of Quintain's further residential development of the area.

This new quarter for London has a lot going for it. Sports at the National Stadium, modern Culture in the form of concerts/events at Wembley Arena, a very wide range of restaurants and shopping at the LDO and a a major cinema complex.

These public amenities combined with excellent road and rail transport links at Quintain's Wembley Park will increasingly be grasped and valued by the market.

ALL IMO. DYOR.
QP

[maddox] 14/2/2014 08:56

JPM have really stuck their neck out with a forecast share price equal to the NAV.

[quepassa] 13/2/2014 10:24

JPM Cazenove today REITERATE their OVERWEIGHT recommendation on Quintain with an unchanged price target price of 110p.

Barclays, as of 19/11/13, remain OVERWEIGHT with target price of 130p.

ALL IMO. DYOR.
QP

[maddox] 12/2/2014 22:18

Hi Roch, high park,

Got in QED back in July 12 with the Knight Dragon investment. So very fortunate on the timing. That deal has been key to the rapid transformation of the business.

Like Unite its an investment that's not going to keep you awake at night - excellent management team, a clear strategic vision and great execution. Its ahead of schedule and exceeded expectations, albeit some investors seem disappointed by its divestment of Greenwich Peninsula. Absolutely, the correct decision IMHO. Just needs more more student accommodation - and it'll be a perfect investment!! :-)

Cheers Maddox

[nil desperandum] 12/2/2014 16:14

Peel Hunt Forecasts to Mar14: 117p NAV 1.8p EPS 0 div. I think that this one is now only being held back by the divi and I hope they will announce a divi, or at least intention of a divi with the FY results. Happy to hold for the upside of the London market and reversion to something like NAV+ if they were to announce a divi. I agree new management seem to be focusing nicely.

[rochdae] 12/2/2014 16:00

Hi Maddox,

Yes, got a reasonable holding here. Added a few more this morning. I recall the good old days and think management have got their act together. Plus I like the sector.

Cheers,

Roch

[high park] 12/2/2014 15:58

Long time no see, Maddox. Regret not buying back into Unite.

[maddox] 12/2/2014 13:53

Hi rochdae,

Seems we have another shared interest as well as Unite, any others?

Cheers Maddox

[maddox] 12/2/2014 13:53

Hi rochdae,

Seems we have another shared interest as well as Unite, any others?

Cheers Maddox

[blobby] 12/2/2014 10:04

scburbs, many thanks.

[911man] 12/2/2014 09:29

Apparently, when Realm came in to manage the LDO, it was as close to disaster as can be. Realm are an accepted master at turning these things around and they have worked their magic.

Max makes good decisions quickly and then resources them with the right people. This now looks a very exciting time to be on board!

[rochdae] 12/2/2014 09:24

Well, the market seems to like the news..

[quepassa] 12/2/2014 09:15

A VERY STRONG update all round.

Debt will now be LOWER than previous guidance at a very conservative £220m.

Quintain are imminently going to start marketing and breaking ground on 7 blocks comprising 475 flats at Wembley Park.

The maths are compelling. At a guess of £300-£350k+ per unit. That's approaching £200m of flats which can be erected relatively quickly and for reasonable construction costs, given the expansiveness of the Wembley site and ease of contractor access.

The LDO is picking up enormous pace. Now 87% let and proving to be a clearly popular destination with over 1 million shoppers until January. Several new and well-regarded shops and restaurants are joining the burgeoning roster of tenants.

Former doubts over attracting sufficient quality tenants to take up space have been laid to rest.

Lettings for student accommodation at IQ for 2013/14 were as good as fully taken up, at 99.9% occupancy. That's impressive. Equally so, that lettings for 14/15 are seemingly significantly ahead of forecast.

Quintain have started to purchase new central London property. After a protracted but necessary inwards-looking phase of restructuring and corporate re-alignment, the Company are now beginning to look outwards to new opportunities.

Very good progress indeed.

ALL IMO. DYOR.
QP

[scburbs] 12/2/2014 08:44

Blobby,

It tells you how the asset performed in that year. Unfortunately it isn't very helpful for the future as the £4.1m includes any income loss (I think there is a fair amount of vacant space) plus the valuation movement.

I suspect there was a large valuation write down in that period as assets with substantial vacant space were doing badly. As the office market starts to tighten with the improving economy the valuation has begun to move up again.

Whether now is the right time to sell is difficult to say, but it is a good profit on the latest valuation and office space on Greenwich Peninsula remains a hard sell so probably best to complete withdrawal from that area.

[jlo10] 12/2/2014 08:43

The asset produced losses - costs higher than rent
And they have sold it for more than it was recorded at in books
Looks like good news

[blobby] 12/2/2014 08:34

scrubs,

I don't understand this statement either:

"For the year ended 31 March 2013, Quintain's share of the loss before tax generated by these assets was £4.1 million."

Can you expand on the explanation please?

[nil desperandum] 12/2/2014 08:32

Apologies scburbs, I totally misread that... so loss to Mar 13 on the assets was £4.1m... gain on disposal £2.9m. Is there an implication that there would have been another loss to disposal?

[scburbs] 12/2/2014 08:16

No it wasn't! Sold for £17.1m, book at 30 September 2013 £14.2m.

The £4.1m is talking about what that asset contributed in the year ended 31 March 2013.

[nil desperandum] 12/2/2014 08:11

Very bullish - but Mitre passage was a loss of over £4m!

[scburbs] 12/2/2014 07:41

Excellent news that they are getting started on selling Wembley next month.

A good sale of Mitre Passage at 20% over book and iQ continues to perform very strongly, being fully let at 3.9% rental growth.

[rochdae] 11/2/2014 14:53

Any idea when the IMS is due?

[thumper1] 11/2/2014 12:36

you bet it will,nice play on the London market.

[quepassa] 11/2/2014 08:50

Strong Trading Update today from house builder Bellway. Prices realised on burgeoning sales are up significantly.


Some extracts:-

1.

Market Conditions
The Group has benefited from continued strength in the UK housing market, supported by strong consumer demand, together with more widespread access to affordable mortgage finance which has largely been driven by the availability of Help to Buy.



2.
The average selling price of homes sold has risen by 13% to £212,000 (2013 – £187,426), with the sale of a number of particularly high value London apartments contributing to this increase in the period. The improvement has also resulted from a greater proportion of completions in the south of the country where the average selling price is relatively high, together with a gradual reduction in the use of sales incentives.



The full RNS is widely available on the web.



Bodes well for the values, prices and prospects of the residential build-out at Quintain's Wembley Park

ALL IMO. DYOR.
QP