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 £34m, 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 2008 net assets increased from £11.05 per share to £12.77 per share at 30 September 2013 despite the economic downturn causing a slump in property prices. An increase of 17.5% to £15.00 was recorded in the year to 30 September 2014. The group benefits from substantial cash deposits and ongoing profitability. Dividend increased from 12.30p per share to 12.55p per share over that same period and, for the year to 30 September 2014, has been increased by 3% to 12.95p per share.
Richard Wollenberg, Chairman, commented on the final results for the year ended 30 September 2014, announced 27 November 2014:
“During the period under review activity in the Thames Valley commercial property market showed a marked improvement. The level of enquiries and new lettings were substantially ahead of last year principally from small and medium sized businesses having the confidence to commit to expansion. Most new leases continue to be for terms of up to 10 years often with a mutual break at 5 years and exclude tenant incentives such as rent free periods.”
A copy of the Preliminary Announcement for the year ended 30 September 2014 is available in pdf format by clicking here.
A copy of the Annual Report 2014 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.