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. In the six months to 31 March 2015 net assets further increased to £15.31.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, was increased by 3% to 12.95p per share. The interim dividend for 2015 has been increased by 3% to 3.5p.
Richard Wollenberg, Chairman, commented on the results for the six months ended 31 March 2015, announced 12 May 2015:
“For the six months under review, confidence levels in the Thames Valley commercial property market continued to gather momentum although letting remained at a low level. Rental levels experienced a marginal increase but the overall level of demand is still insufficient to support higher rents.
Residential property values in Surrey and Berkshire have remained firm, albeit with signs of a flattening market. Sales and letting activity remains high.”
A copy of the Interim Report for the six months ended 31 March 2015 is available in pdf format by clicking here.
A copy of the Annual Report 2014 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.