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
  +5.00p +1.89% 270.00p 260.00p 268.00p 270.00p 270.00p 270.00p 1,542 16:35:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 27.5 6.7 12.7 21.3 143.54

Town Centre Share Discussion Threads

Showing 76 to 98 of 100 messages
Chat Pages: 4  3  2  1
DateSubjectAuthorDiscuss
28/8/2018
08:13
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
06:40
A new note from Edison: Https://www.edisoninvestmentresearch.com/?ACT=18&ID=21609&LANG=
jonwig
23/7/2018
17:34
Nice property company this one and very well run.
topvest
23/7/2018
07:09
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
07:47
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
15:06
Yes, makes sense Jeff - thanks.
jonwig
06/7/2018
15:02
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
14:57
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
09:48
Ex Divi tomorrow (24/5)
mortimer7
18/4/2018
07:41
http://www.edisoninvestmentresearch.com/research/report/town-centre-securities887261/full
spob
17/4/2018
11:01
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
09:56
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
15/2/2018
16:52
managed to buy some at 274.cheapest for some time.
manrobert
22/1/2018
07:36
Trading update - looks as though things are going to plan: Https://www.investegate.co.uk/town-centre-secs---town-/rns/half-year-trading-update---notice-of-results/201801220700024362C/ H1 results on 26 Feb. Https://www.yourparkingspace.co.uk/ looks interesting. Judging by the set of accounts published last year, they were in dire need of funding which they seem to have secured.
jonwig
18/12/2017
09:02
jonwig.you are quite correct.the buy price at Friday close was 273 and with no trades this morning you cant buy below 281.5
manrobert
18/12/2017
07:17
manrobert - yes, strange price swings are common with this company. Whatever the share price, they are pushing ahead with development in Leeds. Partnership with the Council will help. They say they are "working with aparthotel operators", which seems a bit ambiguous - develop then sell, or sell and develop? https://www.investegate.co.uk/town-centre-secs---town-/rns/investment-in-new-development-scheme-in-leeds/201712180700035633Z/
jonwig
17/12/2017
13:36
veryse nsible.think present price is very attractive and may buy more next week.
manrobert
17/12/2017
13:22
4% yield - increasing dividend = long term hold. I ignore any price moves which are not news based.
peter27
Chat Pages: 4  3  2  1
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