Telford Homes Share Discussion Threads

[mrphil] 26/2/2019 12:14

Nice little earner there then!

[cwa1] 19/2/2019 08:01

And link to today's sale announcement:-

[broadgreen] 19/2/2019 07:47

release below from Dec-17 detailing the purchase of the site being sold now:

20 DECEMBER 2017

Telford Homes Plc (AIM: TEF), the residential property developer focused on non-prime London, is pleased to announce that it has exchanged and completed contracts with U+I and Parkdale Investments Ltd for the purchase of a significant residential-led development site situated in Forest Road, Walthamstow, E17 for total consideration of £33.9 million.

The 3.16 acre Equipment Works site in the London Borough of Waltham Forest benefits from detailed planning consent for 257 open market homes, 80 affordable homes and 18,830 square feet of flexible commercial space. Whilst the development can be marketed for individual sales the Group expects to explore entering into a build to rent transaction for the delivery of the open market homes in the new year and will undertake the detailed design accordingly.

The site is serviced by excellent transport links being situated within 150 metres of Blackhorse Road station on the Victoria line and London Overground. Vacant possession is expected by April 2018 and Telford Homes intends to commence work in Autumn 2018 with completion anticipated in late 2021.

[mrphil] 12/2/2019 11:34

I presume this sort of thing? http://www.constructionenquirer.com/2019/02/11/telford-buys-stratford-site-for-160m-homes-plan/

Makes them pretty pricey if half are subsidised!

[zho] 11/2/2019 08:08

>>The 1.14 acre site is expected to deliver approximately 380 homes with subsidised affordable housing anticipated to make up 50 per cent of the development.>>

Less than 13 square yards per house. Shurely shome mishtake?

Edit: okay, someone has pointed out that we must be talking high rise. Fair enough.

[cwa1] 11/2/2019 07:35

11 February 2019

Telford Homes Plc

('Telford Homes' or the 'Group')

Conditional acquisition on International Way, Stratford

Telford Homes Plc (AIM: TEF), the London focused residential property developer, is pleased to announce that it has exchanged contracts for the conditional purchase of a site on International Way, Stratford, E20 for a total cash consideration of GBP20.0 million, subject to achieving a satisfactory planning consent. The land has been acquired from LCR, the Department for Transport and HS1 Ltd. following a competitive process.

The purchase of this prominent site, which is adjacent to Stratford International station and Westfield Stratford City, will be Telford Homes' third land acquisition from LCR and typifies the Group's approach to forming long term relationships with key landowners in London. The 1.14 acre site is expected to deliver approximately 380 homes with subsidised affordable housing anticipated to make up 50 per cent of the development.

The cash consideration will be payable upon completion of the purchase, which will take place after the Group has secured vacant possession and achieved a satisfactory planning consent. The gross development value is expected to be in excess of GBP160.0 million.

Jon Di-Stefano, Chief Executive Officer of Telford Homes, commented: "I am delighted that Telford Homes has exchanged contracts on another acquisition involving LCR and HS1 Limited. We have enjoyed considerable success in Stratford developing more than 1,750 homes in the area over the last twelve years. This site is really well located next to the International station and Westfield, and is an excellent addition to our development pipeline."

[aimingupward2] 04/2/2019 09:49

That’s interesting! If you already hold nearly 10% of the company you surely wouln’t add even more unless you were pretty confident that all was well with home completions and this year’s results.

[glawsiain] 04/2/2019 09:02

Octopus increasing their stake above 10%, reported today.

[aimingupward2] 18/1/2019 11:21

Not going to a quid then, as Porsche told us it would?

[thamestrader] 18/1/2019 11:19

Yep, likewise my other builder, BDEV.
Not really sure why, but not complaining.

[pillion] 18/1/2019 11:00

SP in overdrive today

[porsche1945] 23/12/2018 17:04

These are going to a quid if cannacord are tipping them, kiss of death.

UK will be fine after brexit haha, a country that comes to a complete standstill thanks to a toy helicopter

[hillofwad] 15/12/2018 08:42

Ceritto

Now TEF have upped the ante in terms of individual development size.the sites are currently £20m+.Mix in the costs of construction it doesn't take very much to use up all their capital facilities

Makes it even more important to get the £33.3m back for the site purchase from a BTR buyer on Equipment Works as otherwise they will have to find £55m +to fund the buildout of the development

[cerrito] 14/12/2018 18:55

Cannaccord have come out with a long note covering the building industry and 12 shares, with TEF being the smallest by marcap. 9 of these are buys and three are holds –including TEF with a target price of 325. TEF is the only one of the twelve that I hold.
They comment on higher debt levels at TEF; the fact that in the current climate TEF are unlikely to make their forecast this FY, especially as they are not cutting prices but TEF better placed with build to rent in the medium term. Interesting that in all time frames covering this year TEF#s share price has fallen in price more than the sector average. Its price/NAV ratio for 2018E is the lowest of the 12 companies.
Hope to get time over the break to have a good look at the report.
I have neither sold or bought since May last year. Well done to those who sold in the summer. Do not see myself buying more at these levels given the current uncertainty.

[hillofwad] 12/12/2018 07:12

One of the important bits of news will be the announcement they have got Equipment Works safely away to a BTR buyer. Usually these funds like to get longwinded deals away before the calendar year!
Maybe the current uncertainty is making the proposed purchasers hold back ?.

Its been 12 months since TEF handed over £30m+ for the site.Handy for Head Office ! .It would be good to see the initial site price headback in through the door

With an increasing amount of capital being tied up in unsold apartments every penny counts

Capital starvation -the killer blow for developers.They can ride out the rest !

[porsche1945] 11/12/2018 22:20

Alot brighter and alot richer than you two webtoed little no hoper brexiter scumbags.

[getscenic] 11/12/2018 07:51

The user name says it all

[bulltradept] 11/12/2018 07:20

You are not an intelligent bloke are you.

[porsche1945] 10/12/2018 21:02

Lancaster, nothing wrong with protesting for what you believe in or want, maybe the the Remain camp in UK should do the same before we let a load of self harming poor old thick disenfranchised knuckle-draggers pull the rest of us down with them. This stock like all house builders now getting trashed, real money being lost becos of brexit madness.

[jurgenklopp] 05/12/2018 10:36

TEF hasn't really joined in today's housebuilder rally !!

Last chance to pick up the 8.5p interim dividend for any income seekers out there.

;o)

[owenski] 28/11/2018 08:56

Didn't see anything that would make this a buy as such, but at this valuation and even with the uncertainty, the forward results wont be shabby and thus no reason to sell at these levels. A 5.5% div to sit on while waiting if that's your thing.

[shanklin] 28/11/2018 08:31

Warning of a potential warning?

"In our trading update on 10 October 2018 we reiterated our original target of exceeding £50 million of total pre-tax profit for the year to 31 March 2019. We also identified that the greatest risk to achieving that target was approximately 90 homes that were still to be sold of which 25 were priced above £600,000. Since that date we have made good progress and now have just under 60 sales still to achieve of which 20 are priced above £600,000. However, the uncertainty arising from Brexit and indeed the wider political situation remains a concern across the sector making it difficult to accurately predict sales rates over the coming months. Individual sales already secured, combined with existing construction contracts for build to rent and subsidised affordable housing and new construction contracts that are expected to be exchanged before 31 March 2019, would amount to total profit before tax in excess of £40 million. This provides us with a strong base to work towards our £50 million target by securing further individual sales that will complete in the remainder of financial year."

Looking very cheap even if they only achieve some of these sales.

[lancasterbomber] 17/11/2018 09:37

Depends where you go in France, didn't the interior minister just resign saying he expected a civil war in 5 years in some of their inner suburbs?

[porsche1945] 16/11/2018 18:57

nocton...we will discuss whatever we want, i couldnt care less how you voted or your opinion on anything else, unemployment in uk, yeah looks low becos a third of the population on tax credits so working in jobs that dont pay a living wage such as for asda who then repatriate the profits to the US that have been subsidised by uk tax payers. Quality of life education health care infrastructure and job security in france light years ahead of uk so dont quote me meaningless statistic drivel you silly little man.