The group seeks to enhance shareholder value by developing its property portfolio and through strategic acquisitions.
The Cardiff Property plc is quoted on the London Stock Exchange (ticker symbol CDFF).
The group, including Campmoss, our 47.62% joint venture, specialises in property investment and development in the Thames Valley. The total portfolio under management, valued in excess of £32m, is primarily located to the west of London, close to Heathrow Airport and in Surrey and Berkshire.
The effectiveness of the group’s strategy is reflected in its performance over recent years. In the five years from 30 September 2007 net assets increased from 1,189p per share to 1,205p per share at 30 September 2012 despite the economic downturn causing a slump in property prices. A further increase of 6% to 1,277p was recorded in the current year. The group benefits from substantial cash deposits and ongoing profitability. Dividend increased from 11.30p per share to 12.30p per share over that same period and, for the current year, has been increased by 2% to 12.55p per share.
Richard Wollenberg, Chairman, commented on the preliminary results for the year ended 30 September 2013, announced 28 November 2013:
“The prospects for further growth in the UK economy and continued stability in European Markets have increased confidence in the Thames Valley commercial and residential property markets. The volume of letting enquiries has increased although where new lettings have been achieved rental levels for commercial space remain unchanged and lease terms are relatively short term and continue to include tenant incentives. ”
A copy of the Preliminary Announcement for the year ended 30 September 2013 is available in pdf format by clicking here.
A copy of the 2013 Annual Report is available in pdf format by clicking here.
The group wishes to acquire further commercial and residential sites and properties and any such opportunities should be sent to the company for the attention of Richard Wollenberg.