Dorchester Property Trust

Dorchester Property Trust will commence trading on Unlisted on Friday 1st October 2010.

http://www.unlisted.co.nz/uPublic/un...cement_id=1763

Thats good news for debenture holders I guess. At least it provides liquidity that would otherwise be lacking. But jeepers how do you value the things?

$33m as a starting point (Independent Adviser's Report dated 9 June 2010), plus or minus a view on the outlook for the Hotel and Apartment property market?

Will be interesting to see where the market cap settles for this property portfolio.

Goldridge Resort (Queenstown)
One Riccarton Road Parkview Hotel (Christchurch)
Emerald Hotel (Gisborne)
Frankton Arms Apartments (Queenstown)

Dorchester announces the sale of the Frankton Arm Apartments
Dorchester Pacific, as Manager of the Dorchester Property Trust, today announced that it has signed an agreement for the sale of the Frankton Arm Apartments in Queenstown, at the carrying value of $2.3 million.

See link for further detail.
http://www.unlisted.co.nz/uPublic/un...cement_id=1827

Good to see that the Hotel in Riccarton has sustained only cosmetic damage. Also nice to see a "dividend" coming for ex Dorchester debenture holders.

Dorchester Property Trust - Letter to Unit Holders

http://www.unlisted.co.nz/uPublic/un...cement_id=1832

DPT has resumed trading today

Dochester Property Trust Annual Meeting

http://www.unlisted.co.nz/uPublic/un...cement_id=2116

Dorchester Property Trust Annual Report for the year ended 31 March 2012

http://www.unlisted.co.nz/uPublic/un...cement_id=2132

are there any old Dorchester Debenture holders out there that have some of these units and want to discuss? I hold a few from the wash up of debentures. Im just glad Im in the money now that the dorchester share price has taken off the last year or so (incl options) Have since sold all shares and options but am holding onto these units. The Trust is debt free and seems to be cashflow positive. Just hope they manage to sell at least one more property before years end. Seems to be a bit more buying interest today with a bidder at 45 cents.

blackcap have some of these but just in the bottom draw

Quote:

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Originally Posted by POSSUM THE CAT

blackcap have some of these but just in the bottom draw

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Yes I have a few too Possum. Was just wondering what people think a fair price is for these. They were issued at $1 when the Dorchester Capital Reconstruction/ save the company happened back in 2010. Debenture holders got issued them so the register would be very large methinks with a lot of little holders. I know a few associates who hold lots of under 5000. The hotels (3 left) are debt free which is a good thing but they did state they wanted to sell all properties by 2013 and wind up the trust. However I dont see this happening. My queries is really as to the "real" value of the hotels and what people think they can get for the trust.

blackcap would be great if they made Share Offer to take them back into the company.

Quote:

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Originally Posted by POSSUM THE CAT

blackcap would be great if they made Share Offer to take them back into the company.

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It would it would, but I can see hell freezing over before that happens :)
Still I think its worth keeping them in the bottom drawer and waiting for the sales to take their course. If they can sell one other hotel (approx 8-10 mill) that will be cash of about 25-32 cents as a payout. Bring it on.

Dorchester have provided their financial accounts and a letter to unitholders, see here:

http://www.unlisted.co.nz/uPublic/un...cement_id=2251 and
http://www.unlisted.co.nz/uPublic/un...cement_id=2252

New Issuer Profile posted:
http://www.unlisted.co.nz/uPublic/un...cement_id=2254

Notice of annual meeting:

http://www.unlisted.co.nz/uPublic/un...cement_id=2297

Sale of commercial premises at Riccarton Road announced.

Quote:

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Originally Posted by Armillary Private Capital

Sale of commercial premises at Riccarton Road announced.

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Thanks for updating us Armillary...

DPT has been released from a trading halt following its capital distribution.

DPT presentation from the Hamilton Unlisted Forum.

2014 accounts and notice of annual meeting are now up.

2014 accounts and notice of annual meeting are now up.

Issuer profile updated for 2014 results.

Update for unitholders.

Notice of special meeting.

DPT put in trading halt pending sale announcement.

Notice of sale of property.

Sale of Apartments, annual meeting & nominations for director

Annual financial statements.