Town Centre Share Discussion Threads

[dashton42] 24/2/2014 12:25

Simon Thompson, Investors Chronicle (he reiterates his Buy advice). For those with access:

[retsius] 24/2/2014 12:07

Big rise at 12 pm.anybody like to comment?

[jonwig] 14/2/2014 07:35

Tipped BUY in the Telegraph yesterday:



And IC repeated its BUY recommendation which has been in place for some while.

Hence the rise I suppose!

[peter27] 12/2/2014 18:51

The same eating service model does a roaring trade at Zurich airport.

[chairman20] 12/2/2014 16:54

jonwig very helpful

sounds like Trinity is following an Aussie model
(Westfield)
The large market-like food court with changing
participants competing does seem to get in the
crowds - especially families -

but the retailers tend not to like them as they compete for
shopper's time and dosh...

Landlord argues the centre provides the footfall, retailers
especially the chains, have to get better at Merchandising
and targeting the people who actually go.

[jonwig] 12/2/2014 14:50

Chairman - Leeds is chock-full of people who love the shops ... but I really don't know how much they're spending!

A big attraction is that you can wander for ages around the centre without having to bother about traffic.
We visited Trinity last week for a meal and did some shopping; the "Trinity Kitchen" is a wonderful idea of pop-up restaurants which can be supplied via a huge service lift. It was full with queues and there were lots of choice places to eat.

That, of course, is a LandSecs development, but this sort of thing sets the rents and values for the city.

Mrs JW goes more than I do, and comes home complaining about the crowds. I've heard that there are trips to Leeds from other parts hence my comment about hotels ... sorry I can't corroborate this, it's just a 'ramp'.

[chairman20] 12/2/2014 13:20

Jonwig

Is Leeds booming, middling, or muddling along?

The near death of Birmingham prime property (not
quite 'ooop North') is a worrying issue in the back
of my mind.

[retsius] 12/2/2014 10:37

Thanks J.
R

[jonwig] 12/2/2014 09:42

In the City centre up Albion Street:



The Merrion Centre is half a mile north, towards the Universities.

[retsius] 12/2/2014 09:33

Jonwig
Where is Trinity?

[jonwig] 12/2/2014 07:50

Highly satisfactory results.

The Merrion Centre may be nothing like Trinity (which is quite marvellous), but the rents will be more manageable for units unable to afford the latter, and the car park and Morrison's are sound anchors for university clients.
Not to speak of the council contract.

Car parks are hugely profitable, with over 50% margin (I assume gross margin, haven't looked too closely), which still undercuts the council's on-street tariffs.

The planned new development will cash in on an 'under-hotelled' Leeds.

I haven't looked closely at the detailed numbers yet, but the NAV uplift should be good for a few pence on the share price this morning.

[retsius] 06/2/2014 09:58

This has to be one of the most disappointing shares out.Never any volume and nobody writes any blogs.Results out next week.

[piano man] 16/1/2014 12:35

Thanks jonwig. Yes gently rising rates not a bad thing. I still worry about online sales impacting on stores. Still on the sidelines atm. Perhaps more scope now for restaurant chains in leeds.

[castleford tiger] 08/1/2014 17:16

I remain a buyer on weak days.
tiger

[jonwig] 02/1/2014 09:08

@ Mr Piano Man -

Equity performance is positively correlated with interest rates provided (a) the latter do not rise quickly, and (b) they remain below 5%.

A rise in interest rates is more likely to be a reaction to normalised growth than a surge in inflation. Economic growth will tend to lead to rental growth and dividend growth.

"More of the same stock" - but most REITs are either London-centred, where valuations are high, or niche. TCSC is second-rank cities, where valuations are still attractive. On top of that is the share's wide discount to net asset value and long-term debt profile.

[piano man] 31/12/2013 12:10

Steady, more of the same stock. When interest rates go up these properties will be less attractive as will the divi.

[castleford tiger] 13/12/2013 19:11

I have been a steady buyer over the last few weeks.

Tiger

[azalea] 03/12/2013 11:28

Peter
Well spotted; two reasons then for buying today. Still quite a bit of headroom for the share price to even match its current NAV of 267p, with 280p forecast by analysts at Oriel Securities, by the June year - end.

[peter27] 03/12/2013 11:20

Tipped by the DT this morning. John Ficenec is a former staff writer at the IC so I expect he will keep a fairly close eye on their views!

[azalea] 03/12/2013 09:58

Ah hah! I have checked S.T. last write up -its the last day to qualify for the fat final div of 7.34p.

[inki] 03/12/2013 09:51

Azalea - perhaps you are right, but more likely a tipster, has pushed it, or -reiterated a buy. There is very little volume as the shares are so closely held.
However you are correct there is value here, as there is a fairly diversified portfolio of non-speculative assets with a fairly financed balance sheet.
Despite the rise in the past year, there is a long way to go to achieve the levels of 2005-6.

[azalea] 03/12/2013 09:29

Starting to show its paces on modest buying and its superior positon as an owner of valuable property and not a builder of the latter.

[azalea] 28/11/2013 15:23

The BoE decision to switch from providing money to help the property market to boost lending to small businesses(especially those in the midlands and northwards) in January, could result in boosting the value of TCSC business properties in the region.

[jonwig] 25/11/2013 14:03

Simon Thompson in IC - "how to make money up north".

Repeat of his earlier tips on this.

[inki] 25/11/2013 13:27

Concerted buying at Mid-day --- One buyer taking a position or a tip out there ?