Yesterday’s newsletter showed that Fletcher King (LSE:FLK) is trading below its net current asset value. In addition, its share price has fallen so much that it is now only 7.5 times average earning per share over the last ten years (excluding the Covid period).
This newsletter describes the five types of property-related services it offers clients; shows the returns made on special property investment projects (SHIPS) and considers where the company goes from here under its new generation of leaders.
Fletcher King offers various services to investors in property, lenders and tenants:
Fund management Asset and property management Capital Markets Valuations Ratings
Undertake purchases and sales according to the client’s requirements. Then ensure each asset is intensively managed to retain and maximize income flow and spot opportunities to enhance future capital growth.
Advisory and discretionary mandates.
Statistical information, market analysis on commercial property market, to enable fund manager to make informed judgements.
Provide detailed reports covering management of the portfolio.
Long-term tenant relationships
Work proactively to meet tenant needs, rather than see them move elsewhere.
95% of rent is collected within three days.
Services are delivered by our Facilities Managers (outsourced).
Letting process through agents.
Refurbishment & redevelopment.
Managing the building fabric.
Richard Goode, formerly an executive director, now a NED, ran this business. Now Paul Morris, a ten year veteran has been promoted to Head of Investment
Buy and sell commercial property in UK.
Act for both in-house clients and out-of-house clients.
Act for property companies, lending institutions, pension funds, private investors, developers and owner / occupiers and provide clear, robust advice
Expert witness litigation.
FK on the valuation panels of most UK clearing banks, overseas banks and other financial institutions
Valuations for Income and Corp Tax, Cap. Allowances, CGT and IT purposes. Negotiations with the HMRC.
Claims resulting from the compulsory acquisition of land and negotiate with the acquiring authority.
Bob Dickman is Head.
Assist clients understanding of UK taxation, and manage their liabilities.
Take advantage of appeal processes or by simply understanding the complexity of the ever-changing reliefs and exemptions
Bob Dickman is head.
Comments in Reports and Accounts on trading in each area
Regular income comes from Fund Management and Asset & Property Management, which are both sectors affected by recession to some degree but not too badly. Capital Market business and Valuations are greatly hurt by downturns. Ratings grinds along with its frustrations with the government Valuation Office but earns a relatively steady fee income.…………To read more subscribe to my premium newsletter Deep Value Shares – click here http://newsletters.advfn.com/deepvalueshares/subscribe-1
I'm a full-time investor running my portfolio. I invest other people's money into the same shares I hold under the Managed Portfolio Service at Henry Spain. Each of my client's individual accounts is invested in roughly the same proportions as my "Model Portfolio" for which we charge 1.2% + VAT per year. If you would like to join us contact Jackie.Tran@henryspain.co.uk
investing is about making the right decisions, not many decisions.