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Telford Homes sells Caledonian Road development for £67m

Mon, 15th Feb 2016 11:40

(ShareCast News) - Telford Homes' large Caledonian Road development in North London - The Pavilions - received a boost on Monday, with the news it had sold all houses in the scheme to a subsidiary of L&Q, one of the UK's biggest housing associations.The AIM-traded residential property developer said the transaction involved all 156 homes within The Pavilions development, 96 of which were to form part of L&Q's private rented sector (PRS) portfolio.Under the terms of the planning permission, the other 60 homes were sold to L&Q for affordable housing.The contracted price for the entire development was £66.75m, with regular payments to be made by L&Q throughout the construction period. As a result, the development would not require any equity or debt to be invested by Telford Homes."We are delighted to have concluded our first PRS deal with a well-established provider, who are already a valued partner to the group," said Telford Homes chief executive John Di-Stefano."The strong level of interest in The Pavilions by PRS investors confirms the potential of the PRS market anticipated at the time of our equity placing in November 2015," he added.Di-Stefano said Telford was continuing to benefit from an imbalance between demand and supply of homes in non-prime London, and the transaction marked the start of what he saw as a new aspect to the group's sales mix.Construction on The Pavilions was already underway, and was expected to be complete by the middle of 2016.
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7 Mar 2013 15:42

Admiral Group Chairman trades in 100,000 shares

Alastair Lyons, the long-standing Chairman of Admiral Group, the non-life insurance giant, reduced his stake by 100,000 shares in the wake of a strong set of full year results. In a sale made on behalf of his wife, Lyons disposed of the shares at 1,314p each, shrinking his holding to 392,152 share

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28 Nov 2012 07:37

Telford Homes quadruples profit

East London homebuilder Telford Homes said half year profit quadrupled after strong demand for inner London locations and it expects profit to grow significantly in 2013. Pre-tax profit surged to £6.5m in the six months ended September 30th 2012 from £1.5m in the equivalent period a year earlier. R

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22 Oct 2012 07:52

Telford Homes sees surge in sales

London focused residential property developer Telford Homes saw a significant rise in first half profit while sales momentum continued as demand for its London property remains strong. In an update ahead of its interim results next month, the east London house builder said it is now 85 per cent sol

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30 Aug 2012 16:19

TT Electronics non-exec doubles stake

Stephen King, an Independent Non-executive Director of electronic component and sensor technology firm TT Electronics, has doubled his stake in the company with the purchase of 50,000 shares. King, who joined TT in October last year, handed over £74,125 for the shares, which he purchased for 148.2

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17 Jul 2012 16:44

Land Director of Telford Homes tops up stake in firm

James Furlong, the Land Director of Telford Homes, a London-focused residential property developer, has purchased 33,627 shares just one week after the firm assured investors at its annual general meeting (AGM) that its sales continue to be secured at a healthy rate across all of its developments.

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30 May 2012 07:59

Telford Homes eyes 2013 profit surge

East London homebuilder Telford Homes posted a healthy increase in annual pre-tax profit and expects strong sales of finished homes in the last six months of the year. Profit before tax and exceptional items came in ahead of market expectations at £3m for the year ended 31 March 2012 compared to £

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16 Apr 2012 07:12

Telford Homes to beat market expectations

East London focused residential developer Telford Homes said pre-tax profit in the year ended March 31 2012 is expected to be ahead of market expectations after strong sales in the second half. The developer, which is focused on brownfield sites in the east end of London, said it remains positive i

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1 Dec 2011 07:11

Telford half year profit falls, eyes bumper 2013

East London focused residential developer Telford Homes said it is on target for full year results at similar levels to 2011, despite a fall in half year profit, and expects a significant profit spike in the year to 31 March 2013. Telford expects annual profit to more than double through 2013 on th

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19 Oct 2011 14:29

Telford to scale Olympian heights in 2012

Telford Homes, the residential property developer focused on brownfield sites in the east end of London, said pre-sales already secured should lead to a sharp increase in profits next year. Meanwhile, trading this year has been proceeding according to plan, with the company on track to meet full-ye

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1 Jun 2011 08:18

Telford Homes profit in line

East London focused residential property firm Telford Homes said pre-tax profit more than halved as it reduced output in line with recession levels. Pre-tax profit and after exceptional items fell in line with expectations to £3m compared to £7.3m in 2010. Revenue declined to £121.1m from £159.3m p

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8 Apr 2011 07:21

Telford Homes sees FY in line

East London focused residential property developer Telford Homes said trading for the year ended 31 March 2011 is expected to be in line with market expectations. The group also announced it completed a £70m banking facility with RBS, HSBC and Santander on 31 March 2011. The facility lasts for thr

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1 Dec 2010 10:26

Telford Homes hikes divi despite results decline

A lack of investment during the credit crunch and a subdued housing market hurt interim results at Telford Homes, although the East London residential developer is buying land again and positive about the future. Profit before tax for the six months ended 30 September dropped to £1.5m from £6.5m,

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21 Oct 2010 06:49

Thursday tips round-up: Sports Direct, Eddie Stobart, Bunzl

Sportswear retailing has long had something of a Wild West reputation, marred as it is by feuds, backbiting and the odd run-in with the law. Tuesday's announcement by the Serious Fraud Office that it was no longer pursuing a cartel inquiry against Sports Direct and JJB Sports may go some way to salv

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20 Oct 2010 17:41

Telford remains cautious

East London-based residential developer Telford Homes says its markets remain uncertain but it is trading in line with expectations. That still means that there will be a sharp fall in profit in the year to March 2011. Management sees little likelihood of improvement in the market before 2012. T

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15 Jul 2010 13:05

Telford Homes Current Trading In Line, 153 New Open Market Sales

LONDON (Dow Jones)--Telford Homes Plc (TEF.LN), a residential property developer in East London, announced Thursday that to date, there have been 153 new open market sales across 12 developments and 88 open market completions, which is in line with management's expectations. MAIN FACTS: -New

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