Forum Archive Index - October 2000

["Colin Ross" <ceejaynz@xtra.co.nz>]

Exactly !  Different Investors have different needs.
As a retired person, I am a very happy holder of Capital Properties - thank
you very much!!
Ceejay

----- Original Message -----
From: hugh webber <hugh.webber@clear.net.nz>
To: <sharechat@sharechat.co.nz>
Sent: Wednesday, October 04, 2000 9:45 PM
Subject: Re: [sharechat] Capital Properties


> And up to 86 cents cents today - with a 13.7% gross yield at 84 cents.
> Its not the 'commercial property market' but the government offices
> property market in central Wgtn you should be looking at and Cap Props
> has got most of this tied up so they're just not another commercial ppty
> coy.
> Slightly amusing how the ppty coys all attempt to throw mud at each other
> - No, we're an industrial ppty coy says one so we don't deserve
> a (share price) discount;
> No we've got a longer track record than Cap Props says another so we
> don't deserve a discount.
> I'm happy to buy at the discount for the 13.7% yield in the belief that
IRD
> & are not going to go bankrupt over the next 5 years of their lease.
> All the ppty coys get embroiled in the silly constant accounting changes;
> its the cash flow and the quality of the management that counts.
> Still, I can't avoid the sneaking suspicion that Cap Props would have
> done better to buy up some more government tenanted buildings
> in Central Wellington than takeover Shortland Props. If only they
> could get their 59.7% leased building (Oracle Tower) in Auckland
> up to a higher percentage.
> Good to see the Cap Props new website as long as they don't get too
> diverted
> playing with it!
>
> On your other question I think I saw house prices had gone up 5.5%
> in the last year in Wgtn - hopefully good news when u r trying to sell
> a house there as we are. This 5.5% left all the other centres for dead.
>
> I guess it all goes to show the value of value investing.
>
> cheers,
> Hugh
>
>
> ----------
> > From: michgore <michgore@i4free.co.nz>
> > To: sharechat@sharechat.co.nz
> > Subject: [sharechat] Capital Properties
> > Date: Wednesday, 4 October 2000 14:59
> >
> > Hi Everyone,
> > I sold up my Capital Properties shares a month or so ago at 86 cents.  I
> > was disheartened to see this share rise to 94 cents almost immediately
> > afterwards but then also watched it drop to 82 cents last week.  A
> > property stock shouldn't be so volatile, should it?  Last week there was
> > a news item about their having signed up two new long term leases, well
> > I suppose that's got to be good news but the news item quoted their
> > director saying that this was a sign of the positive demand for office
> > space in Wellington.  I don't know too much about the commercial
> > property market but this would not seem to be the case if you stroll
> > around Wellington City and check out all the "To Lease" signs.  And
> > there was all the news not long ago about how they chose to account for
> > the downgrade of their building valuations.  Is this just another
> > company Director trying to talk up his share price?  David McEwen last
> > week rated this one a sell at 84 cents, what do chatters think?  At what
> > price would it become a bargain?
> > I'm also wondering about the growth of residentiol apartments in central
> > Wellington.  Have aparments become affordasble because of a lack of
> > demand by Commercial tenants?  Given that we have negative population
> > growth, new homes being built, and a move of residential into the city,
> > then what does this do to house values in a place like, say Miramar?  I
> > heard on the news that Wellington houses have been rising in value
> > against the national trend.  I can't understand why this would be.
> > Sorry if I have too many questions.  Regards michael
> >
> >
> >
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