Quadrise Share Discussion Threads

[scburbs] 07/1/2015 11:38

Another big profit for the QED managed WELPUT.

"WELPUT has completed the sale of the freehold interest in 21 Tothill Street, SW1, for £55.4m to private buyer.The deal reflects a net initial yield of 3.4%.WELPUT bought the 65,000 sq ft office building for £28.6m in 2010."

Source EGi

[scburbs] 27/12/2014 15:56

Brent (Wembley) in the top ten at 20% growth.

[davidosh] 27/12/2014 12:22

Greenwich in the news.....



At least we still have a small interest !

[quepassa] 18/12/2014 14:51

Today.

Barclays issue update and REITERATE their OVERWEIGHT reco with unchanged TARGET PRICE of 138p.

ALL IMO. DYOR.
QP

[quepassa] 05/12/2014 13:21

Two Property Week articles:-

1. The Wembley way for Quintain - interview with Max James

(The Quintain name has become synonymous with the long-running Wembley scheme. Why is chief executive Max James putting all his eggs in one ... )




2. Quintain and GLA team up for Docklands housing push

(Property Week understands the Greater London Authority (GLA) and developer Quintain have commissioned John McAslan & Partners to produce a ... )



Propertyweek carries the full articles.


ALL IMO. DYOR.
QP

[seatopants] 27/11/2014 17:07

Another couple of large buys through today following high volume yesterday.

Someone is acquiring shares following the IMS dip. Be interesting to see in an RNS is forthcoming in the next couple of days.

SoP

[alan@bj] 25/11/2014 16:56

Investors Chronicle view:-

A new management team and a booming London property market have transformed the fortunes of Quintain Estates (QED). Specifically, its development in Wembley is now starting to generate a substantial revenue stream.

Rental income has been boosted by a gross £6m a year following the last year's opening of the London Designer Outlet at Wembley. That's ideally placed to benefit from event days held at Wembley Stadium, which typically increase footfall by almost a half and turnover by 27 per cent. The opening of a 1,300 seat theatre in early 2016 will have a further positive impact, too. Meanwhile, at the Hilton London Wembley Hotel - in which Quintain retains a half share - occupancy levels grew to 82.5 per cent, while higher average room rates lifted first half revenue by 10 per cent.

With 475 homes under construction, the development pipeline has been expanded to over 1,700 homes - that's just a third of the 5,000 homes that it holds outline planning consent for. Demand for homes has been strong and unaffected by the slowdown in the central London housing market. Average apartment prices were £366,000, with buyers attracted by good transport connections to the City, including a 24-hour weekend underground service that started in September.

Peel Hunt is forecasting full-year adjusted book value of 123p (from 114p in 2014).

IC VIEW:
Quintain is now delivering a sustainable revenue stream as its development pipeline starts to deliver. The shares are down a little below our buy tip (100p, 15 May 2014) but now trade at a 23 per cent discount to forecast book value which, given the growth momentum, looks hard to justify. Buy.

Last IC view: Buy, 92p, 27 May 2014

[quepassa] 25/11/2014 09:54

So far today:-

Broker Updates.

Sanlam RITERATE their BUY recommendation with TARGET PRICE of 115p

JPM Caz REITERATE their OVERWEIGHT recommendation with TARGET PRICE of 130p


ALL IMO. DYOR.
QP

[kibes] 25/11/2014 08:36

Building of apartments and sales seem to be progressing but where is the money? Just £11.1 million profit after tax (and only £3.3 million on an adjusted basis) is hardly enough to consider paying a dividend and looks very tiny for a company valued at £500 million. And since London property values are going through the roof why isn't the NAV up by more? Just after the rights issue several years ago the NAV (when property prices were much lower) was 123p as I recall. Now it is 117p. Hardly an impressive performance.

[scburbs] 25/11/2014 08:08

Good to see residential delivery really starting to accelerate now that they are now longer constrained.

"Over 1,700 homes are now in the immediate pipeline at Wembley Park, representing one third of the apartments for which we hold outline consent. Initial sales prices and volumes achieved during the period give us confidence that, as we increase the pace of delivery, we will unlock substantial value for shareholders while establishing a new destination in London with a sustainable economic composition and unique, highly attractive character."

On a very simplistic calculation 1700 homes represents £625m of sales and c. £125m of gross profit (subject to JVs etc.).

"£61m worth of private sales (166 homes) at an average price of £588 per square foot, 13 months prior to completion."

[r ball] 25/11/2014 08:03

still no dividend. not unexpected give. fd is leaving.

[maddox] 19/11/2014 12:27

Hi Guys,

Just heard a radio advert on Kiss 100 for an Ice Rink that they've opened at Wembly's London Designer Outlet. Nice to hear both that they are adding attractions and also advertising the LDO. Obviously I must fall into the targeted demographic ;-)

Cheers Maddox

[quepassa] 18/11/2014 20:37

On 29/10/14 in Post 6639, I mentioned Quintain's interests in Birmingham and that they own a long leasehold on property to the west of Curzon Street, Birmingham which is the site of the proposed Birmingham terminus for HR2.

Post 6639 provides useful background to what Quintain are currently doing vis-a-vis this site which is oft overlooked as one of Quintain's assets, and relatively little spoken about by Quintain who like to emphasis that they are London focused. Post 6639 provides a link to an article in Co-Star which gives more specific detail about this land where Quintain are lobbying against compulsory purchase.

However, it seems to me that this site in Birmingham may or may not potentially prove to be a highly valuable asset for Quintain.

The front-page main headline in today's FT reads " Qatar keen to invest heavily in renovating HS2 rail hubs".

The article continues:

"The Qatari royal family has told British ministers that it wants to invest heavily in regeneration projects being planned around the hubs of the new HS2 high-speed rail line, with billions of pounds of investment being discussed".

The full article makes fascinating reading and the penultimate paragraph continues:

"People close to the project said that the Qataris appeared to be particularly interested in investing in the renovation planned in central Birmingham, where one of the biggest new stations in Britain in a century will be built at Curzon Street. Developers plan to build 2,000 homes and 600,000 square metres of office space around the new Birmingham station, with the aim of transforming the area using a similar model to the redevelopment of London King's Cross station".

Seems to me that Quintain's 11 acre site near Curzon Street has become of great interest and it certainly cannot do any harm to land values now that the Qataris have indicated an apparent keen interest to get involved in investing in the build-out of the new terminus in Birmingham.

A statement from Quintain at their forthcoming results about the current status and value of this site would be very welcome. No doubt many analysts will be keen to understand better how current events may or may not impact Quintain's valuation of the site and its development potential, as well as being updated on Quintain's governmental lobbying to keep oversite development rights in the face of compulsory purchase.

This Birmingham asset seems to me to have just become a lot more interesting. With the involvement of the deep pocketed Qataris, who recently bid for Songbird, mentioned in the FT, the spectrum of possibilities broadens.

ALL IMO. DYOR.
QP

[stopaloss] 14/11/2014 11:53

Seen the daily mail article. If there was any substance to it wouldn't the share price have been hiked by the mm's by now or does that only happen when a bid is confirmed?

[quepassa] 14/11/2014 11:44

Thanks for info and post.
Herewith link:-




ALL IMO. DYOR.
QP

[jlo10] 14/11/2014 11:43

From the Independent
The latest gossip? The Qataris are off to Wembley.
Speculators are tipping the country’s sovereign wealth fund to make a tilt at Quintain, which owns most of the land around Wembley Stadium, as well as swathes of Greenwich Peninsula. The rumour comes just days after Canary Wharf owner Songbird Estates, up 20p at 350p, rebuffed a lowball bid from Qatar. Punters are hoping for a higher bid.
While the Qataris went deliberately low for Songbird, the dreamers tipping Quintain are allowing themselves to talk of an offer as high as £1.50 a share. Quintain jumped 3.5p to 91p.
------------------------------------------------------
I note it calls the speculators, the dreamers

[bunnyola] 14/11/2014 11:33

Anyone seen Daily Mail article - Rumours of bid by predators at 150p a share

[quepassa] 11/11/2014 07:27

Very robust half-year figures from big-brother Land Securities who major in retail and shopping centres. For the six months to Sep 2014 , Land Securities record an increase in NAV per share of 10.7% and they increase the half-year dividend by just shy of 4%.


ALL IMO. DYOR.
QP

[trytotakeiteasy] 10/11/2014 16:32

I suppose key risk is that London Designer Outlet turns into a white elephant and that Wembley isn't popular from a residential basis for both sales rates and prices... any views on these factors?

[r ball] 07/11/2014 20:31

Wembely Outlet Shopping. WOS for short

[quepassa] 07/11/2014 13:33

Article in the Standard.... " misnamed London Designer Outlet centre..."

Agree that LDO is misnamed. For me, LDO is a completely daft name. Everything there should have "Wembley" as part of its name in my view. Wembley Stadium, Wembley Arena, Wembley Park etc etc etc. - That's good branding and leveraging off the great heritage of the site.



The Private Rental Sector has good prospects.



ALL IMO. DYOR.
QP

[bean02] 07/11/2014 12:10

Sold my sbd this am after yesterday's hefty rise it looks overbought and over nav. This is at 25% discount to nav with only 23% ltv which is best in sector as far as I can see. Bought in here

[quepassa] 06/11/2014 16:02

Songbird Estates whose major asset is Canary Wharf are in receipt today of a preliminary offer from the Qataris (QIA) and Brookfield Property Partners.

Songbird shares are today up 22%.

One notes that there are certain similarities in so far as both QED and SBD are both non dividend-paying property companies and both companies own one major asset (Canary Wharf and Wembley respectively) which comprise the bulk of their assets.

Let's hope that the sector as a whole starts attracting more M&A activity.


ALL IMO. DYOR.
QP

[farmsted] 04/11/2014 09:18

2 large sells and the price goes up, any chance of it getting back to a £1 soon ?

[scburbs] 03/11/2014 10:58

Looks like another highly profitable project for the QED managed WELPUT.

"A prime office block just off Oxford Street in London's West End is up for sale for around £60m.

...

WELPUT, advised by Grafton Advisors and managed by Schroder Property, bought the building in 2010 for £22m and undertook a refurbishment."

Source: Property Week