Springfield Properties Share Discussion Threads

[meganxmas] 16/4/2019 07:26

Ok so you have a beef with the company ... spill the beans

[paleface1] 16/4/2019 07:23

I noticed yesterday that springfield have got the diggers in to their site at Dornoch where they have completed the first 25 units pretty much

The diggers are excavating long trenches across a very large hill which has been part of the lanscape for every and they are planning to flatten this major piece of landscape to infill a deep run off area the other side of the hill where they want to built 188 units. The diggers are part of a supposed archaeological dig to check for pictish artifacts. There has already be artifacts found including burial sites before but that didn't stop them building

The 25 house already built are on ground that was infilled two years ago of up to 5 meters in places with around 300mm strip foundations

The site is not fit for purpose, hence jacking these houses up to get the fall required for the sewer waste

[lossieloon] 08/4/2019 15:19

hxxps://www.thetimes.co.uk/article/slowdown-may-send-scots-land-tax-off-target-b3p5l9h8b

Not good reading for the Scottish property market, can't say I'm surprised.

[paleface1] 22/3/2019 08:06

"I now hold shares" good luck with that one ;--)

[meganxmas] 12/3/2019 09:44

When a company has as many sites as Springfield it does not mention every site in results nor every area. Your approach treats the company as much smaller than it is. They have grown substantially over the last year both organically and via the Dawn and Walker acquisitions both of which were very good highly regarded housebuilders with reputations forged over many years. Every housing company has some slower sites and no company worth its salt simple builds to demand. That said it also manages the position to ensure no excessive build up. I believe that Springfield is well managed with strong facilities for growth. They are also very well regarded by their bankers. They also have a good management team and a well balance approach of affordable and private. Their acquisitions have strengthened this along with their land bank. Now I hold shares and possibly biased on upside ... you on other hand have no position / want no position but merely comment. I don't think so

[lossieloon] 12/3/2019 09:37

I just find it interesting how a company portrays itself to the market versus what's actually happening at the coalface.

None of their sites in Moray get a mention in their interim report, if they were performing well they'd be shouting about it.

[meganxmas] 12/3/2019 09:01

Why keep posting "facts" then ?

[lossieloon] 12/3/2019 08:51

Just stating facts that I've seen with my own eyes locally Meganxmas.

To be fair to them purchasing Walker group was a smart move as its a far more profitable company than Springfield.

I don't hold any position on SPR

[meganxmas] 12/3/2019 08:15

How short are you ?

[lossieloon] 12/3/2019 08:10

Had a wee run round the Springfield sites in Moray with MrsLL yesterday. Unsold stock continues to pile up on their jobs in Forres, both Elgin jobs and in Buckie. They're also pushing really hard with advertising on local radio which I think tells its own story.

My golf buddy was saying that construction has virtually dried up on their Nairn job also and most of the lads have been dumped into Elgin jobs.

It was also interesting to note that they haven't started on their new village on the south side of Elgin despite this being stated in their interim report to the market a few weeks ago.

[bpdon] 06/3/2019 09:33

Yup mcpaulas - I don't know where all the buyers are coming from..... or more importantly where they all work.

Quality is a big issue in the area. The fixtures and fittings on offer from Barratt and Tulloch are very poor IMHO. Kirkwood made a very grand entrance to the area and offered a relatively impressive specification at a fair price on two Inverness developments. Although they have now pared back that standard for their Culloden development, which was disappointing.

[mcpaulas] 06/3/2019 08:00

Barrat and Tulluch remain the key players in the highlands at the moment.They are building houses so fast in inverness that it makes you dissy to watch.There is planning in place to build thousands of new homes.One site that has barely started building is sold out and prices start at £600,000.

[bpdon] 05/3/2019 10:42

hxxps://masterinvestor.co.uk/equities/springfield-properties-is-cashing-in-on-scotlands-housing-boom/

[paleface1] 01/2/2019 11:34

Am with LL, they been laying slabs on solid frozen ground with frozen aggregate and then left through the night at -6

god help the poor mugs that are buying these

[lossieloon] 10/1/2019 11:04

Time will tell Meganxmas time will tell, an afternoon driving round their sites on the moray firth and a cross reference against their website would prove beneficial to any prospective investor.

[meganxmas] 10/1/2019 10:01

Know them well and you are scaremoungering.

[lossieloon] 09/1/2019 08:44

No agenda - just stating fact, take a drive round their sites in the North, in Elgin for instance they are building 3 times as much units as the other established developers put together.

They are the housebuilding equivalent of JLR, except JLR can hide their unsold stock on runways !!

[meganxmas] 08/1/2019 17:56

Hmmm member since er 7th January 2019 !!! You have an agenda per chance ????

[lossieloon] 08/1/2019 17:31

I'd proceed with caution re SPR. One of my golfing buddies works for them on their sites in the north.

Apparently building loads of stock on their sites that remain unsold and they are having to incentivise and discount aggressively, especially in Moray.

He reckons they've expanded too quickly and quality has taken nose-dive at the expense of ramping up completion numbers. He's worked with them for almost 12 years and used to speak really highly of them.

[paleface1] 24/12/2018 08:54

Foundation issues, building on made up ground of up to 3 meters, then laying a strip foundations of about 12 inches

Frost heave will have an effect in this situation, particularly in the Highlands where the ground is currently frozen and is not even middle of winter as yet

[trustman] 06/12/2018 13:08

Lets hope its not the weak mortar issue being aired today in generic terms.

[trustman] 19/9/2018 15:29

Many thanks, much appreciated.

[jonwig] 18/9/2018 12:51

A development with structural issues. I didn't make a note but will try to discover. Will contact off board if I've any success.