Workspace Share Discussion Threads

[brando69] 01/3/2011 13:24

similar pattern last summer between 19-20p... 19p was the bottom of the range, and it retested that level a few times. 24p looks like bottom of range now.

[brando69] 01/3/2011 12:59

i dunno, i've had shares that have driven me more insane... ie shares that have gone down and down and down...

treading water i can cope with

[stockadoodle] 28/2/2011 17:52

HeHe....

HEALTH WARNING:
This share will drive you insane....(or straight to the drinks cabinet) OR BOTH

LOL....

[brando69] 28/2/2011 17:30

fozzie, i could have written that post myself...

[fozzie] 28/2/2011 17:29

You can say that again Purp! Back where we were before the news on the jv. Really really starting to irk me now, something always stops me selling up though.

[purplebox] 28/2/2011 17:21

Closed at 24.0p - down 1.25p - not good :-(.

[purplebox] 24/2/2011 12:37

brando69 - 24 Feb'11 - 11:59 - 7214 of 7214

bit surprised by mooted reaction to a positive rns

Most of the impact came yesterday - it was leaked...

As news goes it's very positive as it demonstrates the managements ability to position the company nicely to take advantage of future expansion opportunities.

They have reorganised the balance sheet to allow flexibility further on down the line - and this deal with BlackRock demonstrates that the WKP portfolio has real value.

As Stocka has pointed out the real benefit is longer term.

Stick it in your ISA...

[brando69] 24/2/2011 11:59

bit surprised by mooted reaction to a positive rns

[purplebox] 24/2/2011 08:35

Yes - and they paid down some debt reducing their interest payments.

Cash proceeds of £28m, net of the £7m equity investment, from the sale of the seed portfolio to BWPT will be used by Workspace to reduce borrowings (together with a small adjustment to hedging) which will reduce Workspace's Loan to Value ratio by around 1.5%. Term facilities will be reduced by £20m.

This is essentially a 'disposal with benefits', where the properties are staying 'close to home' and will still generate management income. These properties will continue be marketed using the Workspace brand so day to day operations will stay the same.

By reducing debt it makes funding future acquisitions easier.

[stockadoodle] 24/2/2011 08:30

Smart move for long term...

[purplebox] 24/2/2011 07:55

RNS:-

WORKSPACE GROUP PLC ANNOUNCES JOINT VENTURE WITH THE BLACKROCK UK PROPERTY FUND



Good stuff - WKP exploiting it's niche market well and attacting new investment funding.

Commenting, Harry Platt, Chief Executive Officer of Workspace, said:

"This joint venture with BlackRock is an exciting opportunity to work with a substantial and highly regarded partner. It provides a new income stream with growth potential and a broader platform to deliver shareholder value from expanding our property portfolio and brand presence across London whilst we can continue to pursue the attractive returns from investment in upgrading and expanding our existing properties."

Commenting, Marcus Sperber, Portfolio Manager of the BlackRock UK Property Fund, said:

"Partnering with Workspace, the pre-eminent provider of space to the London SME community, is a tremendous opportunity for the BlackRock UK Property Fund which has had a successful track record of collaborating with specialist property managers to drive returns for its investors. BlackRock's research indicates that London industrial property will be one of the UK's strongest performing sectors over the next five years."

It's a sign that confidence is returning to the market.

[purplebox] 23/2/2011 16:39

Closed @ 25.0 - up 1.0p - less headroom today...

[brando69] 23/2/2011 16:34

same again tomorrow pls

[purplebox] 22/2/2011 18:18

paulrosie23 - 22 Feb'11 - 18:02 - 7205 of 7206

It has even more headroom today.

Yes - closed at 24.0p down 0.75p.

I only had 2 blues (IRET & HSTN) out of 20 today (inc 3 greens).

Horrid!

[paulrosie23] 22/2/2011 18:07

Think Richard Hammond rather than Jeremy Clarkson.

[paulrosie23] 22/2/2011 18:02

It has even more headroom today.

[purplebox] 18/2/2011 17:38

Closed at 25.25p.

We had the BLND first half results on Tuesday, and the restated NAV was given as 548.0p up 4.4% in the last quarter (to 31st December).

Today, BLND closed at 563.5p.

So it's trading at a slight premium to it's NAV.

With a NAV of 28.0p (to 31st Sepetember) it's pretty clear that WKP's current share price of 25.25p has plenty of headroom yet.

[brando69] 18/2/2011 14:44

26/25.5 - sth stirring perhaps

[catcheemonkee] 17/2/2011 12:57

Did purplebox's post force you to sell, Brando? Hope not - here's the first paragraph or two:

LSE auction proceeds smoothly after glitch

By Bryce Elder and Jeremy Grant

Published: February 16 2011 15:13 | Last updated: February 16 2011 15:13

The London Stock Exchange's closing auction went ahead smoothly on Wednesday, as the exchange continued to deal with a technology glitch that caused some traders frustration after it was disrupted the previous day.

In the afternoon execution-only brokers including Selftrade warned their websites were not showing correct prices.

The development comes after the LSE on Monday switched to using new trading technology provided by MillenniumIT, a Sri Lankan company it bought in 2009.

[brando69] 17/2/2011 09:33

can't read that

can you give us the gist purple?

[brando69] 16/2/2011 17:53

ditto fozzie

holding too long has often been my downfall.

[purplebox] 16/2/2011 17:44

Every portfolio needs at least one steady stock like WKP, but how much you hold is a personal decision.

I was late to the party in CAD, bought in at 40.0p on Monday as a 'core' holding for the ISA but have been day trading it this week as well...

...also made a nice short term gain on WNER and correctly sold yesterday before todays RNS.

Well done to all who held UNIQ past 10.0p today - and didn't sell like me!

[fozzie] 16/2/2011 17:32

I am a very bad trader, i am good at buying shares but very poor at selling them, hence i have had some big winners but also some real stinkers. WKP falls in the middle, i have made a decent return but i feel i could sell around 25p, buy something like CAD and make a quick 30% and buy back here and nothing much would have changed. Decisions decisions!