30 Lombard Street Letting the new development to FTSE100 St James Place will be a major boost to NAV & income.
Results Property values seem at best flat now.MCKS needs to rent out its new properties for us to see any improvement in share price as it would transform net income.Potential occupiers seem thin on the ground however.
Seems Cheap..... Obviously with three speculative developments Reading,Redhill & Lombard St.The concern is that lettings may be hard to find particularly at the right price.The first two are more or less completed,Lombard St next year.However MCKS has a £20m gross rent income from other properties that would seem to cover loan interest & dividend etc in the mean time.
MCKS vs MKLW comparison Good McKay Securities / A&J Mucklow Group plc comparison. Has analysts estimates of EPS which is interesting. [link]
Re: I'm now out!!! On a 12 month basis it has had a decent performance,especially when compared to the market generally.Hopefully we will see some progress from the new purchases over this year.
I'm now out!!! Well, having held for 5 months, I'm out for a small profit. A little disappointed these haven't moved forward so happy to sit on the side lines for now. GLA