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 Property Company Limited, our 47.62% joint venture, specialises in property investment and development in the Thames Valley. The total portfolio under management, valued in excess of £39m, 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 to 30 September 2014 net assets increased from 1,065p per share to 1,500p per share despite the economic downturn causing a slump in property prices in the early years. A further increase of 12.3% to 1,684p was recorded to 30 September 2015 and a further 11.4% to 1,876p to 30 September 2016. The group benefits from substantial cash deposits and ongoing profitability. The dividend increased from 12.30p per share to 13.5p per share over the period from September 2009 to September 2015 and, for the current year, has been increased by 3.7% to 14.0p per share.
Richard Wollenberg, Chairman, commented on the results for the year ended 30 September 2016, announced 30 November 2016:
“During the period prior to the UK European Referendum vote the Thames Valley commercial property market enjoyed increased activity. The leave vote brought about uncertainty with commentators predicting falls in rental levels and capital values. Despite this, activity in the investment and occupational markets has been higher than expected with office, retail and industrial rents in parts of the Thames Valley showing small increases.“
A copy of the Annual Report 2015 is available in pdf format by click 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.