Sofia Prop Share Discussion Threads

[tomboyb] 30/1/2012 12:39

Over 1% of total equity bought - I've written buy/sell off - That still leaves NAV in the multiples -

[mister md] 30/1/2012 12:36

nice 890k buy there

[imabastard] 30/1/2012 11:28

Will be interesting to see if the price action follows this pattern ....

[induna123] 30/1/2012 11:03

The best thing that could happen here is if BuySell agrees to pay back what they owe, that in turn would resolve the cashflow issue which in turn would realise the true value of the property assets. At £1m market cap it's priced to go bust but if the above happens you're looking at a multi-bagger.

[tomboyb] 30/1/2012 10:59

Let it be - i think everyone is entitled to their own opinions -

[induna123] 30/1/2012 10:57

Cheap? £1m market cap against £17m worth of assets + another £17m from BuySell.

£1m vs £34m?

Yes, VERY CHEAP!

[ny boy] 30/1/2012 10:55

Europe is in turmoil and you want to invest in basically one of the eastern block countries with an either worse outlook!

Far too many more important Countries in turmoil with even cheaper assets to purchase either off the government or the banks. This is cheap for obvious reasons but a nice little ramp up being attempted :-)

[tomboyb] 30/1/2012 10:09

I've got no hesitation to say i hold both SPfl AND och - Just because there is a seller a very low values does'nt mean to say what its valuation is -

[mister md] 30/1/2012 10:04

imagine the NAV (approx 24p now?) if they hadn't screwed up !

[p@] 30/1/2012 09:41

Don't know how you can compare this company with OCH,in seven years what have they built?

They have lost 9million euros ,sold a landbank at 1/4 of the price,borrowed 500million on two landbanks for an extortionate interest rate.No wonder Credit Swiss sold out.Whether its worth 1.7p who knows.But it shouldn't be compared with OCH.

[induna123] 30/1/2012 09:20

Well done comedy. We have a ridiculous valuation here of £1m against an asset base of 19m euros or £16m,(see half-year report) plus if BuySell coughs up what they owe another 19m euros in the coffers.

[comedy] 30/1/2012 09:16

lol as i got interrupted..shows how little stock thye had at this level bliuie:)

[comedy] 30/1/2012 09:16

tom i've been buying back all my trading stock this morning...some got in at 0.9p..then then took it to 1.5p..but could only get back in at 1.2p zone...now they have touched 2p...but lowest i got this morning was 75k at 1.42p...shows as a sell...my buy...so soon 1.5p will be the base...roll on end of week and as others start to see och they will join up the dots and start to arrive here...we only feel this low due to seller and no buying demand...sp will keep rising over coming month..deal news hits and multibagger on the cards

[tomboyb] 30/1/2012 08:46

Ludicriously undervalued with the caveat of cashflow -

[tomboyb] 30/1/2012 08:43

I reckon someone could make a lowball offer for the entire equity - at these levels u have a market cap of 900k with potential 19mill euros worth of property -

[induna123] 30/1/2012 08:41

What loans are you referring to des? The only one I can see is the £500k loan by Pluto Partnership which is repayable on the 28th June 2012. This against at asset base of £16m with a penalty payment from Buy/Sell of £8m plus another £8m on top of that?

The Directors announce that the Company has secured a loan for a total of GBP500,000 from the Pluto Partnership (the "Lender"). The loan will be available in two tranches of GBP250,000 subject to certain conditions.

The first tranche, which will be available immediately following the execution of a charge in favour of the Lender over the Company's property at Crystal Glade, is repayable on 28 June 2012 in a principal amount of GBP312,500 unless previously repaid at par.

[induna123] 30/1/2012 08:31

I don't understand why were seeing sellers at this price, crazy. This could be a multi-bagger quite easily.

[tomboyb] 30/1/2012 07:56

Morning chaps - Property acqusition rumours on the OCH thread - predominantly about the sofia market -

[tomboyb] 27/1/2012 20:12

If you look at OCH - It does look like Sofia which is the capital of Bulgaria may be showing sighs that the market is bottoming -

The issue is what are the valuations?

Currently spfl is trading at 1/20th the valuation

OCH is trading at 1/10 - 1/9th NAV

Those valuations are very low indeed - I do hold both so i have a vested interest - dyor -

[leaderzzz] 27/1/2012 20:09

My position

I purchased a few K of these on wednesday after a quick look over the spfl website and yep, I think it was you that flagged it up...

well done

[tomboyb] 27/1/2012 20:08

Hi Nick - holding OCH as well - both these property are at such signifcant undervaluations that selling properties for a loss should yield investors a big upside - Ultimatly someone could simply bid for the equity -

[leaderzzz] 27/1/2012 20:08

So what do I get for a Million Pounds?

This is Taken from the SPFL website..




Project 3

64,956 square metres of land (4 plots including lake) Dolna Banya.

Plot 1:
This site has a construction permit for a residential development and restaurant on one side of its own small lake.

Plot 2:
This site, situated close to a small ski lift has a construction permit for residential and restaurant.

Plot 3:
Application has been made for change of designation of the land from agricultural to residential.

This plot already has a construction permit and the Fund hopes to retain some of the original buildings and machinery into a feature of the development.



Project 4:

c125,000 square metres of land close to the ski resorts of Bansko and Dobrinishte by the Pirin National Park.

Application for change of designation of the land from agricultural to residential use is being made to the relevant municipality and on receipt the Fund is hoping to build a mixed complex of exclusive apartments and villas including a luxury spa centre with swimming pool, restaurant, bar, and tennis courts converting to skating rink in winter.

The project, subject to planning permission, will be developed by Winslow Developments.

Click for Winslow website:


Project 6:
6a Roman View

This disused tobacco factory building is located right behind the main shopping street in the heart of the bustling city centre and has views towards the 2nd century AD Roman theatre and the old town of Plovdiv. A new open plan state-of-the-art development providing eight floors of luxury apartments and commercial facilities will replace the existing building whilst at the same time reflecting the scale and proportions of the old building.


6b Plovdiv Reach

17 luxurious villas are planned. The land plot is located on the historical national rowing club site and within a designated conservation area between the banks of the river Maritza and the Grebna Baza canal and with stunning views towards the Rhodopi Mountains.




Project 7:

Panorama Villas

Situated adjacent to what will be the 4th and 5th holes of the Ian Woosnam golf course, which is scheduled for completion in March 2008. 73 luxury apartments and 4 villas will be built in two phases, starting around April 2007.

Around 150 apartments will be built with development expected to start around April 2007.
Imaginative architecture and design and state-of-the-art materials will combine to make this a stunning development with a restaurant on the top floor.



Project 8:

Crystal Vale, Govedartzi
The Fund is building approx 139 apartments (9 lodges + clubhouse apartment building). Construction has already started.

The Developer for the project is A-BRE (www.a-bre.com), a British property, architecture & design company.
The lodges will be built using the DAC Super-E technology.These are eco-engineered homes designed for performance, health, and comfort. DAC International is acknowledged as a world leader in Super E technology, building to standards that meet or exceed local building requirements.

Govedartzi
Govedartzi is 6km from Beli Iskar and one of the three hubs of the the new Hyper Borovec resort.
Investors in the resort include Equest Balkan and the Sultan of Oman.




So whats so good about Sofia? ( taken from wikipedia)

Sofia is the capital and largest city of Bulgaria and the 12th largest city in the European Union with a population of 1.27 million people.[4] It is located in western Bulgaria, at the foot of Mount Vitosha and approximately at the centre of the Balkan Peninsula.

Prehistoric settlements were excavated in the centre of the present city, near the royal palace, as well as in outer districts Slatina and Obelya.[5] The well-preserved town walls (especially their substructures) date back before the 7th century BC, when Thracians established their city around a mineral spring, which exists to the present day. Sofia has had several names in the different periods of its existence. Its ancient name, Serdica, derives from the local Celtic tribe of the serdi who inhabited the region since the 1st century BC. During the Middle Ages, it was one of the major commercial centres of the Bulgarian Empire, along with Tarnovo. Sofia's population remained small until 1879, when it was declared a capital of the Principality of Bulgaria after the Liberation of Bulgaria from Ottoman rule.

Sofia has been ranked by GaWC as a beta- world city.[6] Many of the major universities, cultural institutions, and businesses of Bulgaria are concentrated in Sofia.







thanks tomboyb

[nick2008] 27/1/2012 20:04

Tomboyb

Another for you. Congrats. Will you be updating the header more. I'll look into this stock.

Nick

[tomboyb] 27/1/2012 19:58

For 1 mill you get property worth Euro 19.2million -

Caveat - Cashlow issues - warrants

If the Bulgarian property market has bottomed then the best time to acquire would be at the bottom -

By the way - very importantly debt is minimal -

[leaderzzz] 27/1/2012 19:51

Hi Tomboy, congratz on the new thread.

So what do I get for a million Quid?