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Share Name Share Symbol Market Type Share ISIN Share Description
Town Centre LSE:TOWN London Ordinary Share GB0003062816 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 226.00p 220.00p 232.00p - - - 3,000 12:02:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 30.2 18.4 34.6 6.5 120.15

Town Centre Share Discussion Threads

Showing 76 to 99 of 100 messages
Chat Pages: 4  3  2  1
DateSubjectAuthorDiscuss
30/11/2018
08:51
Yes, the Intu flop, I guess. And that was caused by "Brexit uncertainty" according to the FT.
jonwig
29/11/2018
19:55
Are we heading south following INTU fall out Tiger
castleford tiger
26/9/2018
09:07
strathroyal - Thanks for your comments - I'd tend to agree with you. A discount of 30% to epra nav ought to take account of these factors.
jonwig
26/9/2018
08:57
Jonwig - Probably means that they are currently scratching their heads over how to build out these projects and obtain the profit for themselves. Being a family controlled company no chance of a rights issue, borrowings are probably as high as they want them to be so they appear to have put together a very good development plan which they can't fully afford. Options could be bringing in other plcs interested in the region (HLCL are looking to increase their Manchester assets) or someone like GRI to buy the residential development. Whichever way they move, they are going to have to give away a fair amount of profit. Until these issues are worked through I think that the share price will continue to lag but I'm still happy to hold with the present dividend and and the future prospects.
strathroyal
26/9/2018
06:53
FY results: https://www.investegate.co.uk/town-centre-secs---town-/rns/final-results-for-the-year-ended-30-june-2018/201809260700029162B/ So they are good; Liberum says "Town Centre Securities' full year results confirm good progress driving rental growth, repositioning assets towards better uses and delivering the group’s significant development schemes. NAV +7% to 384p was just ahead of our expectation, with earnings also resilient and 2% ahead of forecast." So was recent price weakness misplaced? Or maybe they are developing at the wrong stage in the cycle. They also say, "... Our recent financing activity increased capital headroom, however we continue to explore new capital raising options in order to facilitate our significant development pipeline." Meaning what?
jonwig
24/9/2018
13:45
FY statement on Wednesday. They aren't usually leaky.
jonwig
24/9/2018
13:39
Cheap c.260p .
its the oxman
28/8/2018
07:13
FT's "Opening Quote" on today's acquisition: Town Centre Securities doubles down on town centre Town Centre Securities, the commercial property group, has announced a deal to acquire The Cube building in Leeds from insurer Aviva. This includes 22,000 sq ft of ground floor leisure units, together with 50,000 sq ft of offices over three floors let to Capita and the government, plus the freehold for 84 apartments which are leased to Persimmon Homes at a peppercorn rent. Key numbers: Purchase price of £12m represents an initial yield of over 12.5 per cent on the rental income. But with lease expiries in 2019 and 2020 the yield will reduce to around 9 per cent. Bottom line: No big impact on finances - TCS is paying for it using “existing resources and planned disposals” - helped by a deal to re-finance its Merrion House property in July this year. What was said: “The acquisition is consistent with our focus on true mixed-use assets and lowering our exposure to retail, which has helped ensure we have been protected from the worst of the turmoil on the high street.” OQ Verdict: This is all about diversification - basically, reducing exposure to pure retail property. However, with the high street casual dining and leisure sectors under such pressure, buying a building that has Hard Rock Café and Mecca Bingo as tenants is a risk.
jonwig
24/7/2018
05:40
A new note from Edison: Https://www.edisoninvestmentresearch.com/?ACT=18&ID=21609&LANG=
jonwig
23/7/2018
16:34
Nice property company this one and very well run.
topvest
23/7/2018
06:09
More detail on the MH re-financing, now completed. A very good deal, it seems: https://www.investegate.co.uk/town-centre-secs---town-/rns/agreement-reached-to-re-finance-merrion-house/201807230700043600V/
jonwig
16/7/2018
06:47
Trading update: https://www.investegate.co.uk/town-centre-secs---town-/rns/year-end-trading-update---notice-of-results/201807160700046528U/ No murky bits. Current development work should boost future earnings.
jonwig
06/7/2018
14:06
Yes, makes sense Jeff - thanks.
jonwig
06/7/2018
14:02
Yes interesting. Town have a lot of developments on the go and do not have the cash to fund them. Think they are due to receive a basic £1.66m from Leeds for 25 years so depending on what discount factor you use they may get about £25 million up front. Leeds can borrow cheaply from the Public Works Loan Board and so will make an overall saving on the lease cost.
jeff h
06/7/2018
13:57
Interesting RNS: Town Centre Securities (TCS), the Leeds based property investor and car park operator, is pleased to announce that it is in detailed discussions with Leeds City Council (LCC) in relation to a re-financing of Merrion House in Leeds. On 6th February 2018, the Company announced practical completion of its Merrion House redevelopment. The 170,000 sq ft, ten-storey building is jointly owned by TCS and LCC in Merrion House Limited Liability Partnership, with LCC occupying the building on a new 25-year lease. The Company is in advanced discussions with LCC with the aim of LCC making a discounted rent advance for the fixed, non RPI, element of the 25-year lease commitment. A further announcement will be made assuming the transaction receives LCC approval to proceed. Comments welcome on the relative advantage to each party.
jonwig
23/5/2018
08:48
Ex Divi tomorrow (24/5)
mortimer7
18/4/2018
06:41
http://www.edisoninvestmentresearch.com/research/report/town-centre-securities887261/full
spob
17/4/2018
10:01
Thanks Jeff. I don't think they've ever been covered, apart from the house broker. Interesting that you can post a comment on the page linked - a new feature, I think. Maybe I will.
jonwig
17/4/2018
08:56
Edison now covering:- http://www.edisoninvestmentresearch.com/research/report/town-centre-securities887261/preview/#js
jeff h
24/3/2018
14:44
Interesting report on REIT's from A J Bell, (Town Centre likewise) https://www.youinvest.co.uk/articles/investmentarticles/142910/how-test-foundations-property-sector?utm_source=Weekly+insight+240318&utm_medium=email&utm_campaign=Weekly+news+240318&utm_term=How+to+test+the+foundations+of+the+property+sector&utm_content=86374&gator_td=lkByzV%2bypLtFyvOsiYB0iXE9idmxm7TOhSay1Zd9Rwg5lr%2bHl3WWJsmoqLZrYrT7VczFPeDjhtqmFXSk59DWF6v4D0DofixCRtcTIRme6Wxj0nh2OW3VXwRPyhg%2fm8QnuPNt4pqaIfRCPCnr%2bflMcDIaP91I3uMTLuxynMBR7u7kC2Er0OyuZOZUplk62v9v
inki
26/2/2018
09:41
Liberum BUY, tp 340p. Summary: H1 results were ahead of our expectation and provide promise in the future value creation its significant development schemes can offer. H1 NAV +4% to 375p was 4% ahead of our forecast. While disposals weighed on earnings this was also still ahead of forecast and the dividend was held flat. A significant 30% revaluation gain on developments, principally in Manchester, enhanced a stable LFL portfolio valuation aided by its increasingly mixed use nature. A large development pipeline across Leeds and Manchester provides scope for significant future income and capital growth. The shares trade on a CY18E P/NAV of 0.75x vs the sector on 0.84x and yield 4.3%.
jonwig
26/2/2018
08:28
Interim results look quite balanced. Disposals at or higher than valuations, dispel the view recently presented in the FT that analysts/brokers view retail based property companies as valued too high. Diversification of property activities continuing at a measured pace.
inki
26/2/2018
07:13
Here they are: Https://www.investegate.co.uk/town-centre-secs---town-/rns/half-year-results/201802260700038420F/ Look very OK. Share price has gone sideways for ages. 28% discount to NAV is far too high given all the developments which will start producing income this year.
jonwig
22/2/2018
18:08
interim results on monday
manrobert
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