dazedandconfused
23 Mar 2017
Re: Price Action ... RNS Timescale is probably something to do with the factory spilling fuel into the ground (from its boiler house, or refuelling trucks) and that's moving towards the Ouse slowly, and equally is hard to pull it back. But biggest and most expensive problem with these old industrial sites now is the Asbestos that was used for roofing and is in fragments around the site - quite often also liberally dispersed around the place by the demolition contractor last century, who also crushed up all the brick and concrete, hoping to re-use it, only to find carcinogenic asbestos fibres in all the stockpiles! Tory government (and Coalition before it) has removed all capital funding grants from Local Authorities to investigate, let alone clean-up, these old brownfield sites on their patch; so don't expect any action from housebuilders to take that on...and Environment Agency staff numbers are also drastically cut
Eadwig
23 Mar 2017
Re: Price Action ... RNS Bolloxx! Hit submit accidentally on last post.I was about to add, no wonder there is a lot of demand for green field sites supposedly threatening the green belt. It would make a lot of sense for the government to clear these sites at their own expense. It would generate jobs and provide land and protect threats to the greenbelt.A reasonable choice for tax spend, I would suggest - they can also force the last land owners to contribute more easily than anyone else can. Most have to do that now anyway, but if you go back far enough there didn't used to be such clauses built into planning permission.
Eadwig
23 Mar 2017
Re: Price Action ... RNS There's a large site in York where the British Sugar factory used to be. All it did was process sugar beet 6 months a year.Currently they reckon 10 years to clean up the brownfield site! (About 3200 housing plots). Its already been empty about 10 years or more. I doubt INL will be looking at anything like those timescales, it just wouldn't be any good for their business model (thankfully). Not for anyone's business model, in fact. No builders anyway, perhaps a long term property fund.
dazedandconfused
22 Mar 2017
Re: Price Action ... RNS I'm familiar with several former gasworks sites..., but not this one. However, i know a Contractor that was there for Natural Grid, so will scout around for any environmental constraints. But i notice it's a mixed resi/commercial consent, so they will presumably be building resi on the 'cleaner' part!been holding this one a year, hoping for good news on site conversion rather than build out, so this is a great RNS. Hoping for another from MJGleeson soonish too.
Eadwig
22 Mar 2017
Price Action ... RNS Well, I was about to say that I reckoned something had leaked about the up-comingH1 trading statement announced yesterday for the 28th March and that the price action had caused both the 50 and 200 day moving averages to be crossed ... I'd just done the subject line, then noticed another RNS had popped up today (see below).The 50 day MA should cross the 200 MA day shortly, and that might trigger some (more?) technical action. There may also be some media coverage. Assuming H1 is back on track after the major contractor failure ruined the last results, We could be headed back above pre-Brexit levels. Not massive volumes though, so just a weak buy. Maybe people put off by the overall market conditions the last couple of days.22 March 2017 Inland Homes plcInland Homes secures permissions for over 1,200 homes-Land bank now includes 2,340 plots with planning consent-INL has secured planning permission to develop 239 residential units and 15,845 sq ft of commercial space at its Lily's Walk site in High Wycombe, representing a GDV of £75 million. Resolutions to grant planning consent have been secured for a further 992 residential units on sites in Buckinghamshire and Hampshire, including the major development at Chapel Riverside in Southampton.Lily's Walk is a prime 3.5 acre site located in the centre of High Wycombe, directly opposite the Eden Shopping Centre, which is the largest shopping centre in the region, and a short walk from High Wycombe rail station which provides access to London Marylebone within 40 minutes. The site was the former National Grid gasworks and Inland Homes will be undertaking extensive remediation and specialist environmental works to bring the site to residential standard. The development will comprise 96 two-bed, 137 one-bed and six studio apartments, as well as 15,845 sq ft of commercial space, associated car parking facilities and additional public realm improvements.Inland Homes has also received resolutions to grant planning permission across four further sites as follows:· In Southampton, Inland Homes plans to develop 457 residential units and 64,000 sq ft of commercial space in a joint venture with Southampton City Council. The development is a challenging waterside brownfield regeneration site and is the Company's first major joint venture with a Local Authority. The site has a GDV of approximately £100 million.· In Aylesbury, Inland Homes plans to develop 400 homes along with approximately 100,000 sq ft of commercial space and community amenities.· In Farnborough, Inland Homes has successfully re-planned the final phase of its Queensgate site from 46,000 sq ft of commercial space to 80 residential homes.· In Chesham, Inland Homes intends to develop 55 residential units.Paul Brett, Land Director at Inland Homes, commented:"Altogether, these permissions represent a significant step forward for Inland Homes and mean that we now have a pipeline of 2,340 permitted plots. Securing these permissions is testament to our specialist expertise and the thorough work we undertake in bringing complex sites to a residential standard. Our understanding of the planning system and the strong relationships we have cultivated with local authorities in the region means we are ideally placed to further add to our development pipeline."Against the backdrop of the recent findings and recommendations published in the Government's housing White Paper, we are now on the way to providing well over 2,300 high quality and much needed homes in the South and South East."
Eadwig
15 Feb 2017
Re: Chief Exec on BBC News Pete the manager,I'd be a little bit surprised if they were snapped up, chiefly because M&A activity in the sector through this cycle has been absolutely minimal. I think because many companies got caught out with way too much debt from financing the 'buying of growth' when the financial crisis brought the last housing cycle to an abrupt end.Also, the current white paper I refer to is floating the idea of a 'use it or lose it' (has an ominous ring to it, that phrase, that politicians would love to use in a sound bite) when it comes to land banks with planning permission. I.e. A time limit between permission being granted and work starting.Needless to say that the industry has roundly condemned the idea, which is once again implicitly trying to shift the blame for lack of supply to meet demand onto the industry, suggesting that they purposely pursue a policy of tying up land to deny it to competitors and so that they can control the rate of supply and thus keep house prices elevated.As far as I'm aware, there is no actual evidence for this, and the extended land bank pipelines of builders appears to be genuinely due to the inordinately extended process of gaining planning permission, along with all the extra section 106 orders (I think they're called) that local authorities add to virtually every development to ensure a mix of housing including a percentage of 'affordable' properties.I doubt anyone will be looking at buying additional land plots with permission until this ludicrous idea has been nixed. If it isn't, there might be a sudden glut of land with planning permission for sale - but who is going to buy it and have the ability to develop it given the skills shortage etc?The whole idea is so flawed, it makes me think it is a bit of a 'flanker'. I.e. The government floating such a bad idea that when their real, preferred alternative is put up, it will have more likelihood of support from the industry (whom the government are reliant on for achieving their housing supply targets, after all) through a mixture of relief and the desire to kill the idea permanently.Having said all that, I wouldn't be displeased with @90p per share myself, but I think INL may be worth more than that once they have put the hiccups from 2016 behind them once and for all. After all, they very nearly reached that level without anyone having to offer a premium to the market at one point as the chart shows. I find it interesting that INL's peak came some time after the general peak in the sector for this cycle (assuming that was it around late summer 2015). I've attempted to show BDEV on the same chart as a typical example of the sector's cycle, but one never knows if such things will show up on the chart after submission.The fact that INL was still peaking later in the cycle shows their trajectory is somewhat different to the standard at this stage in their development.
Pete the manager
14 Feb 2017
Re: Chief Exec on BBC News wouldn't be surprised if a bigger house builder snapped them up - I'd accept 90p a share. At that price the current land bank would be reasonable value to somebody like, say Galliford Try - sudden Linden Homes influx onto the Inland plots ?just saying...........I've been wrong many times before though!
Eadwig
08 Feb 2017
Re: Chief Exec on BBC News Bound to have been some people thinking 'never heard of them, looks like they might win out in the budget, I'll maybe have a punt' ... and a few of them will remember the name and actually have one.Yes, he could have grabbed an Inland Homes hard hat with 'INLAND HOMES' printed across it (I doubt many would would recognise the logo alone - I wouldn't!) but it might have looked a bit desperate and presumably he was talking on behalf of the smaller section of the sector.Every bit of publicity helps. If INL were really switched on they'd get a copy of the whole piece on their web site and follow up with a handful of local press releases over the next few days. Possibly ensure a link from the piece on the BBC website (assuming its there) to the INL site. Probably easier said than done it being the BBC.The people that will have known the name already, or definitely noted it, are potential customers for INL's products. Almost all publicity is worthwhile and adds to the value of the brand.About 25p added to the value of the brand via the stock price would do me very nicely right now. I've been averaging down in anticipation of the up-coming budget announcements and current white paper.
serious lnvestor
07 Feb 2017
Re: Chief Exec on BBC News Yes i saw it too and wondered if anyone who had been looking to invest in Inland mighthave been persuaded by it. best regards s.i.
dazedandconfused
07 Feb 2017
Chief Exec on BBC News ..this lunchtime, brief comment about the Housing market/needs as part of a five minute vignette from a 'visible' Berkeley Homes site in London (Sajid Javid with a company hard hat on) and another 300-home site under way in Southampton showing building in progress - no logos visible, but a short talking head to camera identified Inland Homes' CE. Marketing opportunity rather lost there...
Eadwig
04 Nov 2016
Results highlights: Seems to have turned into a year of consolidation rather than growth, hence the sp performance. Focussing on success in the 'medium to longer-term' may be a high risk strategy given the prevailing Brexit uncertainties etc. Here is the chairman (edited) putting a positive spin on it:"The Group has delivered another set of robust annual results, with turnover for the year at £101.9 million (2015: £114.2 million) and profit before tax at £32.9 million (2015: £34.0 million), including a revaluation surplus on our investment properties of £18.0 million (2015: £14.5 million) which contributed to a 30% increase in net asset value to £116.0 million (2015: £88.8 million).""Our financial performance was affected by a contractor engaged by INL running into financial difficulties, resulting in the delay of 23 legal completions, the proceeds from which will now fall into the year ending 30 June 2017. The actions taken to strengthen our in-house construction team meant that the Group was able to quickly take full control of the relevant sites and all of the related construction activity, which significantly limited the downside suffered.""The Group's balance sheet has been strengthened during the period, with cash balances of £16.7 million (2015: £21.4 million) at the year end and net borrowings (defined as loans and the accrued ZDP liability less cash) amounting to £54.6 million (2015: £34.9 million). Borrowings have increased post year end due to continuing investment in land opportunities and a further increase in work in progress due to the momentum in our housebuilding activities.Given the robust underlying performance of the Group, I'm pleased to report that the Board is proposing to increase the final dividend by 28.6% from 0.7p to 0.9p per share""During the year, INL sold 168 homes (2015: 287) (including 21 for Housing Association equivalent units (2015: 39)) at an average price of £337,000 (2015: £264,000) per private unit. Fewer homes were sold this year compared to last year, partly caused by delays in finishing the 23 units referred to above and partly because the previous year's sales numbers were flattered by a bulk sale of 59 units.""The Group sold 425 (2015: 440) consented plots to other housebuilders in the year""Our rental income for the year increased by 165% to £2.1 million (2015: £0.8 million). Further increases are anticipated in the year to come as we continue to intensively manage our commercial and residential portfolio, and effectively exploit short term rental opportunities"."significant increase in the size of our strategic land bank (sites which are next to existing settlements and are highly likely to get zoned for development because the local authority is short of a five year land supply). From virtually no such holdings 18 months ago, we now have 17 options, delivering control over 330 acres, which offer the potential for over 1,600 residential plots.Including strategic land, I am pleased to report the entire land bank has increased by 29% to a record 6,681 plots (2015: 5,176), a significant achievement by any measure and putting us in a good position to capitalise on these opportunities in the medium to long term."
dazedandconfused
14 Oct 2016
results Which don't read too bad, but there's a few 'cautionary' points hidden in there, especially the sales of units coming through in second half of this financial year (hopefully not the same ones postponed because of Contractor going bust, THIS year). But good to see options (gambles!) on some greenfield sites bearing fruit, with (some) new Council plans denoting housing in the future. And no warning on market conditions in the region...Nice Divi hike for us all...
Eadwig
31 Aug 2016
Re: Something Brewing? Today's RNS might be the reason behind the latest rise .... looks like the ideal position potentially with the Autumn Statement on the way...
PIE-EATER
30 Aug 2016
Re: Something Brewing? The government wouldn't want to alienate foreign studentsa) they bring cash....fees and foodb) they provide educational employment (lecturers to librarians)c) they may eventually be a sought after commodity and would ultimately boost the UK economy with their skills after education (a ploy Dublin has been using for many years from my conversations with a couple of people just outside Dublin. Families were paid to house foreign vacation students to encourage them to stay, learn and benefit the economy) If they have trained here they may stay
Eadwig
29 Aug 2016
Re: Something Brewing? Gus,MJ GLEESON PLC are about where others are in the sector, although towards the top end of recovery, but not outstripping the pre-Brexit share price as INL are. Possibly uniquely, because I don't really class WJG (who I know nothing about, but I am a big advocate of the student accommodation sector via ESP - a REIT) are operating in a very specialised sector, not really home building, from what you say of them.They have come back to pre-Brexit levels, but so have other student accommodation builders/providers, so no big surprises there. Keep an eye on the situation if you are invested in them, turns out foreign student figures are, unbelievably, included in net immigration figures - one of the huge issues of the Brexit vote. I don't see them as immigrants at all, indeed, they're more like residential customers paying huge amounts into UK PLC via fees and accommodation expenses.However, a very easy political 'win' for a desperate government would be to restrict their numbers and thus massively reduce the net immigration figure by 2020 without actually doing anything. Highly doubtful a government would wantonly destroy one of the few sectors that Britain truly competes in at an international level, but it wouldn't be the first time a government made a brain-dead decision. All the best, Eadwig
