Oceania have ‘sold’ 4 more units at The Helier since March ……..no mention of price but who cares ….no worries
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Does anybody know how much The Helier actually cost to develop?
Quote from Ron’s post -
Indeed, I would be inclined to feel that way myself in their shoes, as the alternative would be depicted as capturing and milking for profit a dependant and vulnerable segment of the population.
Recent experience, evident with a number of operators, is that focus has become misplaced and they have lost their way so that shareholders have had a distinctly negative outcome. There are natural limits with regard to the extent of activity and asset base that the available shareholder capital should support. I have not seen, ever, any commentary as to what scale is desired to optimise shareholder outcomes, nor any assessment of when expansion should be curtailed in the interests of ensuring a stable longterm return to shareholders that realises embedded value and derisks activity.
Agree that focus has been misplaced and that shareholders are bottom of the list …even though mention ‘equal focus’ on key stakeholders.
It was evident that the Oceania ASM was a necessary evil and something that had to be done. Well timed having it afternoon before a long weekend and enthusiasm shown by Directors etc almost zilch…highlight was CEO squirming when blaming the market for the low share price….no remorse whatsoever …maybe he’s forgotten that growing earnings might actually help.
Ron, good post. Maybe what you are saying is that property development and caring/looking after people aren’t compatible after all and don’t make for a solid foundation to make real shareholder value
Not sure it's been disclosed but I wonder if they still feel they will recoup by the end of FY25. If not, no worries FY26.
"Bianca Fledderus
Yes. Okay. But -- so based on that, it sounds like first half of '25 may still be quite weak on sales for The Helier and then hopefully, we'll see an improvement in sort of second half of '25 for that village?
Brent Pattison
Yes. I think we're not necessarily seeing it the same as that, but I think we're just being cautious. And we know that it's something that people are focused. That's a flagship property for us, so we're been cautious. But what we have done is run various scenarios. And under each of those scenarios, we're confident that we will be cash positive with the sales that we'll make out to FY '25. So we would have recovered our investment effectively."
I’m getting confused
Some are saying Helier apartment sales now total 24 …20 at March plus 4 Brent mentioned the other day
In that analyst briefing Brent said 13 sales to March …plus the 4 gives 17
Wonder if it’s 17 or 24 so far?
The quote at the AR call was
"So we have 13 that have been -- 13 IOU that have been recognized in April '24. And we have 4 care residents. We have 7 under application, where we've seen settlements in May -- April and May of IOU and 2 additional applications for care residence."
At the AGM he said 24 apartment sales which I take as of June 27..
So sounds like 13 'sold' to April and 11 since March
House prices need to fall further ….
https://www.rnz.co.nz/news/business/...ome-affordable
How...?? I don't see the prices will go down.
https://www.nzherald.co.nz/business/business-outlook-gets-gloomier-but-offers-hope-for-falling-inflation-nzier/YI4H2KBSHFBXZAZEKOXNT3WRW4/
Wages increase, materials increase...assets increase.
Unless the government created massive unemployment and credit crunch....like 2008-2009.