Limitless Minerva Northacre


Advertisements
 

Limitless Minerva Northacre

Postby Gulfer » Thu 12 Jun 2008 19:11

Limitless the Dubai investment vehicle has made a bid for Minerva, UK property developer.

Howver some of Minerva's top end developments aye joint ventures on a profit sharing basis with Northacre, the main market hasn't woken up to this yet. Once they go through the books with a fine toothcome a bid for Northace will follow.

DYOR
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Limitless unlimited

Postby sharewadi » Fri 13 Jun 2008 08:43

Hello Gulfer and welcome to the is-there-no-limit stock forum :).

Limitless is a company I don't follow much, mostly because it's not a publicly owned company. But for UK investors it is of course of more interest if Limitless are making acquisitions of listed companies.

Minerva is not the first European property company that has attracted the interest of a Dubai or UAE based company, and won't be the last. Aldar Properties (ALDAR) for example (listed in Abu Dhabi), has said they're on the acquisition trail.

If Northacre / Northace was an attractive proposition to Limitless, why wouldn't they have already put in a bid for them? I can't imagine Limitless are unaware of whatever JV arrangements there are between Minerva and Northacre / Northace. Maybe Limitless decided that Minerva was the better of the 2 companies to put in a bid for?
Please read forum posting guidelines, especially if you have been deactivated.
User avatar
sharewadi
moderator
 
Posts: 14591
Joined: Fri 19 Aug 2005 11:10
Location: up the wadi without a paddle

Postby Gulfer » Fri 13 Jun 2008 16:10

Hi Sharewaid!

Limitless are picking up Minerva at almost fire sale values - the sub prime ripple and the 'r' word have made UK property firms fall to bargain basement prices.

However Northacre have partnerships / joint ventures with Minerva on a profit sharing basis, which, initially may seem a small part of Minerva's whole portfolio / land bank.

But (Aint there always!) Northacre's sole area of interest is in Kensington / Chelsea which are not sub prime but super prime - the one place in the UK where prices are still rising and the super rich are their clients.

Once Limitless have Minerva they will almos have to make a play for Northacre. Also, the Northacre ' Brand ' will fit in with limitless.

http://www.telegraph.co.uk/property/mai ... ter105.xml

http://www.northacre.com/
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Postby Gulfer » Thu 24 Sep 2009 16:02

Now on the move again - Minerva has new funding and Northace a Dubai investor.
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Postby Gulfer » Sat 26 Sep 2009 12:31

Things happening, in line for a take over..

That RNS "The Company has been notified that Mr John RG Hunter, Director, has disposed of 1,500,000 ordinary shares of 2.5p ("Ordinary Shares") to MAR Investments Ltd, an investment vehicle owned by Mr Mohamed Al Rafi, Director, at 20 pence per share representing 5.6 per cent of the current issued Ordinary Shares. Following this sale Mr Hunter now holds 3,150,000 Ordinary Shares representing 11.8 per cent of the issued Ordinary Shares and MAR Investments Limited now holds 5,510,000 Ordinary Shares representing 20.6 per cent of the issued Ordinary Shares."

Also earlier in the year..

http://www.growthbusiness.co.uk/news/sm ... deal.thtml

A recovery / takeover situation if ever there was one.
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Postby Gulfer » Sat 06 Mar 2010 00:02

About to take off now London prime recovering.
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Postby Gulfer » Tue 20 Jul 2010 23:12

[source="stockopedia.co.uk 17 July 2010"]Northacre set to reap rewards from London's prime house price boom

Northacre (LON:NTA) has had a hard life on London's Aim market over the last 10 years, building fantastic, quality multi million pound houses and flats, but never making any real profits. That appears to be about to change with its flagship project The Lancasters overlooking Hyde park.

Northacre purchased the former Thistle hotel at Lancaster Gate in 2006 for £67M in a joint venture with Minerva

In 2007 Northacre gained planning for 74 super flats and two town houses. Days later Minerva pulled off a trick of a lifetime refinanceing the land loan, [ on the back of the increased land value.] A new £215M land, build, and interest loan was agreed just hours prior to the 2007 credit crunch.

Today, a year away from completion, 50% of the scheme has been pre sold at prices double the going rate in Westminster back in 2006 when the site was aquired. Total projected sales are now looking to come in around £500 Million

Very few large projects ever come out on budget , so it might be advisable to slap on an extra £50M in costs and remove £35M from projected sales [if the market turns down a tad.] The joint venture equity is split 95% Minerva 5% Northacre, with Northacre able to earn up to 50% of the profits. Clues as to the actual amount Northacre will recive can be found in Minervas accounts, as they re value their trading property, and "book their share" twice a year. Northacres share of the pot so far stands in at £40M. Even on a poor day The Lancaster appeas to be about to clear £200M, an outstanding amount. Minerva looks like clearing £120M and Northacre £80M. Northacre trades at 30p, all its shares at that price come to £8.5M[/source]
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Postby Gulfer » Sat 31 Jul 2010 13:44

150% up on the week, AGM due, big tie up with Evans Randall, this will be a ten or twenty bagger over the next few years
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Postby Gulfer » Wed 11 Aug 2010 13:11

Up 50% this morning, 112.5P, heading towards £5 next year.
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Another Player

Postby Gulfer » Thu 30 Sep 2010 20:34

Another Mid East player besides Md Al Rafi building a stake:

http://www.advfn.com/p.php?pid=nmona&ar ... =LSE%3ANTA
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Postby Gulfer » Fri 11 Feb 2011 19:42

[source="LSE Trading Statement 11 February 2011"]Northacre Plc

Trading Update

11th February 2011

The Lancasters

There continues to be good progress both in construction as well as sales. Since our last announcement on 30th November 2009, further sales have been secured at improved values which now stand at almost 60% of the total area. First phase completion remains on course for Spring 2011 with overall completion of the development in Summer 2011.

The Vicarage

Good progress continues to be made with our new partners, Kokomo Beach PTE Ltd for the development of this prime residential scheme. Discussions are in progress with the Royal Borough of Kensington and Chelsea for an improved design scheme and we anticipate a favorable outcome to these discussions with commencement of the construction before the end of the year.

Trading

Our Interior Design subsidiary, Intarya, continues to grow its market share both in the UK and abroad, and we are pleased to report that a major private client contract has been secured at The Lancasters against strong competition. We remain optimistic that further contracts will be secured in the near future following the success of the show apartment. Nilsson Architects' workload also continues to expand following the sooner than expected progress at The Vicarage. In order to facilitate the expansion of the resources to meet the requirements of the new contracts and the improved outlook for the subsidiaries, the Group has secured an additional loan facility of GBP2m to be drawn down as necessary. The facility is for a term of up to 18 months and can be repaid earlier at any time without penalty. The loan is from Mr. Abdulsalam AlRafi, the father of Mohamed AlRafi, a Board Director and Shareholder.

The delivery of The Lancasters remains at the forefront of the programme for Northacre in 2011 together with the commencement of the development of The Vicarage. This is an exciting time for the Group and the Board is committed to securing new projects and funding that meet its investment criteria.[/source]
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Postby Gulfer » Sat 19 Feb 2011 22:17

Minerva results Tuesday, expect a leg up this week.
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Postby Gulfer » Thu 24 Mar 2011 16:01

Stake building by Mid East Properties

http://www.advfn.com/p.php?pid=nmona&ar ... =LSE%3ANTA
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Postby ixtira » Wed 06 Apr 2011 19:33

Gulfer wrote:Minerva results Tuesday, expect a leg up this week.


Gulfer: I notice you failed to mention that Minerva’s profit plunged downwards to 10 million pounds compared with 45 million pounds for the same period last year.

A drop in profits of 78% :shock:
User avatar
ixtira
mercenary
mercenary
 
Posts: 628
Joined: Mon 11 May 2009 13:59

Postby Gulfer » Wed 06 Apr 2011 20:34

Minerva is cash strapped at present - has two major developments about to be let, St Botolphs and the Walbrook.

Clients are understood to be Santander as possible tenants - once these get let it will be a different situation. That is why it is a buy as it is a recovery stock.

Plus they have £400 milllion in potential profits, shared 50/50 with Northacre from the Lancasters. This revenue stream will accrue in the next 14 months or so.

I always look for intrinsic value and recovery stocks, buying into lows...
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Postby Gulfer » Sun 08 May 2011 18:42

Hussain Sajwani is in on the deal...


http://citywire.co.uk/money/sunday-pape ... ps/a490505
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai

Postby Gulfer » Fri 22 Jul 2011 13:39

http://www.northacre.com/files/announce ... Nufrah.pdf

http://www.northacre.com/files/announce ... -Damac.pdf

NTA poised for:

A huge surge in profits as The Lancasters approach completion

And a possible takeover bid.
Gulfer
charletan
charletan
 
Posts: 17
Joined: Mon 06 Aug 2007 13:25
Location: UK / Dubai


Advertisements
 


Return to UK Stocks and Shares

Who is online

Users browsing this forum: No registered users and 1 guest

cron