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 £26m, 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 three years to 30 September 2017 net assets increased 42.7% from 1,490p per share to 2,126p per share, with a further increase of 2.5% to 2,178p at 30 September 2018. The group benefits from substantial cash deposits and ongoing profitability. The dividend increased from 12.95p per share to 15.50p per share over the period from September 2014 to September 2017 and, for the current year, has been increased by 7.1% to 16.6p per share.
Richard Wollenberg, Chairman, commented on the results for the year ended 30 September 2018, announced 27 November 2018:
“A more cautious mood has been noticeable in the Thames Valley commercial property market over the last six months. Continued nervousness on the outcome of the Brexit negotiations, political uncertainty and increasing world-wide trade barriers have affected the willingness to commit to longer term contractual arrangements
Despite the lower level of activity commercial property rental levels remain unchanged aided by a shortage of modern office space and small/medium sized industrial units with good parking and facilities. New Grade A office developments in certain Thames Valley locations continue to achieve high headline rents although leases are usually limited to a ten-year period. Future take up levels will however be important in determining rental growth.“
A copy of the Annual Report 2018 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.