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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Safestay Plc | SSTY | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 19.00 | 08:00:22 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 19.00 | 19.00 | 19.00 | 19.00 |
| Industry Sector |
|---|
| TRAVEL & LEISURE |
| Top Posts |
|---|
Posted at 17/10/2023 18:36 by catch007 Its a good location in Edinburgh well situated and I am certain occupancy levels will be high once the development is complete. Tourist accommodation is very expensive in the city and the current Airbnb lets are being hammered by the council licence charges. This should create an attractive room rate and high usage. Investors have missed the Airbnb issues and the company is well placed to take full advantage of the opportunity it provides. |
Posted at 12/6/2023 13:25 by battlebus2 Also from the 21 AR but I’d guess those valuations maybe slightly reduced given the market.ld properties The Freehold values relates to the 3 following hostels: — The £3.5 million value of the freehold in York is based on the external valuations as at 31 December 2021 prepared by Cushman and Wakefield. The historic cost carrying value is £2.4 million which is the acquisition price in 2014. — The freehold of the Glasgow property acquired in October 2019 for £3.2 million and which has undergone renovation for £0.4 million. The £4.9 million value of the freehold in Glasgow is based on the external valuations as at 31 December 2021 prepared by Cushman and Wakefield. — The hostel in Pisa was acquired in June 2019 for £3 million, of which £2.1 million for the freehold. The £3.5 million value of the freehold in Pisa is based on the external valuations as at 31 December 2021 prepared by Cushman and Wakefield. COVID-19 rent concessions The International Accounting Standards Board (IASB) has published 'COVID-19-Related Rent Concessions (Amendment to IFRS 16)' amending the standard to provide lessees with an exemption from assessing whether a COVID-19-related rent concession is a lease modification. The £37.5 million right of use assets all relate to properties operated by the Group as hostels. Right of use assets as at 31 December 2020 Lease disposal (Barcelona Sea) IFRS 16 lease modification Derecognition of sub-leased asset Right of use assets as at 2021 Leasehold, land and buildings 42,048 (1,610) (2,891) (640) 36,907 The Group has used external valuations on Elephant & Castle. The London Elephant & Castle leasehold was independently valued on 31 December 2021 at £26.8 million. The valuation was performed by Cushman and Wakefield. The Group has accounted for the finance transactions as interest-bearing borrowings secured on the original properties held. Leasehold improvements Leasehold improvements comprise the capitalised refurbishment costs incurred by the Company on the leased properties. Valuation process Initially market values of the properties were believed to have fallen due to the impact of COVID-19. The directors wanted to show that the values of the properties have recovered post COVID-19 so engaged independent external valuers to determine the market value of all three freehold properties and the long leasehold property. These independent external valuers hold recognised and relevant professional qualifications and have recent experience in the location and category of the properties being valued. The Group provides information to valuers, including profit and cashflow forecasts along with asset-specific business plans. The valuers use this and other inputs including market transactions for similar properties to produce valuations. These valuations and the assumptions they have made are then discussed and reviewed with the management as well as the directors. Cushman & Wakefield were engaged to value properties now valued at £38.7m. Valuation fees are a fixed amount agreed between the Group and the valuers in advance of the valuation and are not linked to the valuation output. Valuation methodology The value is assessed by adopting the income approach to valuation adopting a discounted cashflow approach. Under this approach it is assumed that the property is held for a period of 10 years and the net present value of the earnings during this period are added to the exit value which is discounted to present day values. Adopting an income approach also requires the analysis of comparable transactions in the market to assess the rates of returns investors are |
Posted at 22/11/2018 13:02 by advfn_sales Here is the chance to meet with Safestay:Using this unique discount code, ADVFN25, you will be able to get £25 off at Mello London 2018, a 2 day investor conference from the 26th – 27th November 2018 at the Clayton Hotel, Chiswick, London. Tickets are normally priced at £99 for two days and £79 for one. Type in ADVFN25 as the discount code. Many Thanks and take advantage of this premium offer. |
Posted at 30/10/2018 14:49 by davidosh Just to let you all know that Safestay will be exhibiting and presenting at our MelloLondon investor event in Chiswick W4 next month on the first day. MelloLondon is a two day event and starts on Monday 26th November through to Tuesday 27th November. You can find out more here...There will be 65 quality companies exhibiting and presenting plus some very well known investors, entrepreneurs, fund managers and market commentators providing excellent keynote talks on a range of investment subjects. A number of investment workshops will be available each day and a ShareSoc MasterClass on the final day. |
Posted at 05/10/2018 10:24 by hybrasil Investors chronicle rate it as a buy as do I.You are getting an awful lot of bed spaces for £14.1 million (current m cap). |
Posted at 29/9/2017 11:47 by hybrasil I see the investors chronicle maintaining their buy recommendation |
Posted at 31/3/2017 09:51 by boonkoh This is interesting. Debt funding now secure. £12m cash. But £0.3m and rising extra liability each year for the ground rent.The big q for me, and it is the elephant in the room as not mentioned in this announcement, is the current trading and whether it has improved.One would expect that HSBC and the ground rent investor would have done their DD on this and happy with the answer. But still a glaring omission. Safestay are in the closed period I guess, as results out on 10th April. |
Posted at 07/12/2016 14:28 by eburne1960 So Mark Slater is out, but an activist investor (according to Pyrrho's website) is in.... |
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