Town Centre Share Discussion Threads

[chairman2] 12/11/2008 13:51

Batten down the hatches

[chairman2] 04/11/2008 17:34

because you can buy it

TCSC you can buy but cannot sell it!!!

[ydderf] 04/11/2008 17:15

this is looking very cheap now, whatever happens to the commercial property market. Market cap 60m rent roll 23m.......Presumably it is cheap because it is illiquid - if you had to buy a property share why would you buy any other?

[chairman2] 16/10/2008 22:40

any news pon Merrion?

[linhur] 10/9/2008 22:40

Todays results seem pretty reasonable in the current property climate.It is good to see that the borrowings are under control and longer facility terms have been negotiated and that the interest has been hedged to give a lower future interest rate compared with market rates.

The portfolio write down (£75mill)was pretty substantial but it was hidden by the write back of deferred tax as a result of becoming a REIT.

Probably also right to defer any further investment until 2010 and also looking to reduce overheads. Probably one or two more non execs could go as they are reaching retirement age.

Not much prospect of much improvement in the share price likely in the foreseeable future.Normally TCSC has instituted buy backs but they are probably very restricted on this because of the Ziff family holding and the REIT rules on a free float of 35%.

I would think it likely that TCSC will survive this property crash although loan to value is at the higher end of the scale and the ILVA building in Manchester will carry a lot of void costs.

kind regards
linhur

[chairman2] 24/7/2008 16:49

any views about James Crawford's departure today?

No more property investment - perhaps??

[loinerscum] 16/7/2008 13:53

ducatiman - 7 Jul'08 - 13:28 - 137 of 137

wonder where the bottom is?



Have you not been to the Merrion Centre market??!!!

[ducatiman] 07/7/2008 13:28

wonder where the bottom is?

[chairman2] 22/5/2008 23:00

Change of Advisor - a really delphic RNS

whats going on???

[chairman2] 02/5/2008 20:32

thats history

we need a crystal ball!!

[whiterussians] 02/5/2008 17:15

net assets of 570p!!?!

[chairman2] 02/5/2008 17:09

we can hope

Chartwise there is no prediction I can see where the
steady drop in the share price might end.

At what point does someone emerge with an analysis of
what this might be worth in 2008?

[whiterussians] 02/5/2008 14:03

Town centre bounce now on??

[chairman2] 23/3/2008 14:47

Priapus
try the EPIC REIT on advn

[praipus] 20/3/2008 09:57

Are there any wesite's that specifically provide analysis for REIT's?

[chairman2] 05/3/2008 10:44

we may be closer to the end of the down trend

but that does not mean it will start to recover yet.

[praipus] 04/3/2008 09:52

Is this a bargain yet?

SP £2.98 NAV £5.62

From the interim
"* Net assets*
o Net asset value per share 562p (2006: 437p)
o Triple net asset value per share 569p (2006: 468p)

These calculations include 104p per share benefit from conversion
to REIT status."

[chairman2] 13/12/2007 15:40

and its selling its development pipeline

no way was that parade of shops anything other than
a development site.

Pity they could not develop it for J Sainsbury.

[chairman2] 13/12/2007 15:38

trouble is I am in for the long terms

and now starting 40% down!!

[nickcduk] 13/12/2007 15:34

Don't envisage any sharp upward movement anytime soon. The sector will report falling NAV for a few periods yet. TCSC isn't as attractive on the dividend front as many of its peers. It did manage to flog the supermarket to Sainsburys recently though. A few more of those and gearing will look a lot better than it does now. Better plays out there imho.

[inki] 13/12/2007 15:27

Chairman2
Property is for the long term
After the recent turmoil which will take time to settle, it must take time to recover.
However the stock market unlike the property market is a forward looking vehicle, hence the turn will show in the stock market first.

[chairman2] 12/12/2007 18:11

wish it was

[moob] 29/11/2007 08:35

starting to move up nicely

[moob] 29/11/2007 07:50

ready fellas

[moob] 28/11/2007 19:48

should fly tomorrow