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22-07-2015, 09:01 AM
#3111
 Originally Posted by macduffy
An interesting article in today's Herald about a block of land in St John's Rd Auckland, owned by the St John's College Trust which is being offered for a 127 year lease, payment for use for that period up front. Known as "Parsons' Paddock", it's 2.5ha and touted as being suitable for a retirement village as well as a housing development. It would be a great location for the former, IMO, but is 2.5ha a viable size for one of the big three? Probably.
Yes, you read it here first, in April!
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22-07-2015, 09:12 AM
#3112
Originally Posted by NewGuy
Summerset just keeps churning it out at the moment. Fantastic.
They have an opportunity here to provide the extra facilities that Ryman provide such as dementia care as mentioned by Roger and Couta. Is this a likelihood? I see that they mention care facilities.
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22-07-2015, 09:16 AM
#3113
Let me play devil's advocate, a role that's not unfamiliar to me LOL....I wonder if the teenager learned anything from its multi year Boulcott site fiasco and made the offer subject to due diligence and consenting approval...knowing Mr "Gung Ho's" approach at SUM it wouldn't surprise me if they've bitten themselves off another problem too big to chew in terms of resource consenting and get left holding the baby again. Chequered track record and a PE of 30...good luck to holders, I think you'll need it. I note its a very small site in terms of acreage so they'll need an intensive development to get anything approaching any reasonable economy of scale...intensive development's are a real can of worms in terms of consenting. Pretty litigious bunch of neighbours in that neck of the woods too.
Last edited by Beagle; 22-07-2015 at 09:21 AM.
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22-07-2015, 09:27 AM
#3114
Thats good news today
Greater exposure in richer parts of auckland good as well
Hope they name it after illuminarys like Roger
Good news keeps coming from this (relatively) undervalued co.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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22-07-2015, 09:37 AM
#3115
Originally Posted by Roger
Let me play devil's advocate, a role that's not unfamiliar to me LOL....I wonder if the teenager learned anything from its multi year Boulcott site fiasco and made the offer subject to due diligence and consenting approval...knowing Mr "Gung Ho's" approach at SUM it wouldn't surprise me if they've bitten themselves off another problem too big to chew in terms of resource consenting and get left holding the baby again. Chequered track record and a PE of 30...good luck to holders, I think you'll need it. I note its a very small site in terms of acreage so they'll need an intensive development to get anything approaching any reasonable economy of scale...intensive development's are a real can of worms in terms of consenting. Pretty litigious bunch of neighbours in that neck of the woods too.
Yep its all very well buying up land but land you can't get consents for due to bad choice and or arrogance toward local councils ain't gonna do much for shareholders other than providing grazing opportunities for the local sheep population.
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22-07-2015, 10:14 AM
#3116
Originally Posted by couta1
Yep its all very well buying up land but land you can't get consents for due to bad choice and or arrogance toward local councils ain't gonna do much for shareholders other than providing grazing opportunities for the local sheep population.
Absolutely and some would be brave enough to suggest "SUM" of SUM's shareholders too LOL. I must say I really like the way MET manages their land acquisitions when making a far bigger land acquisition like the one at Red Beach recently they make it crystal clear the purchase is subject to due diligence and resource consent approval so there's no possibility of them ending up in a multi year Boulcott consenting fiasco. Prudent management v Gung Ho trust us we know what we are doing...too early for a Tui ?
Last edited by Beagle; 22-07-2015 at 10:15 AM.
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22-07-2015, 10:20 AM
#3117
Originally Posted by NewGuy
finally hit $4. Champagne tonight.
And now onwards and upwards from here eh ...... 425.......450.......475...... then $5 bucks
(Ryman prob about 8 bucks still then as it multiples revert to more aligned withSUMs)
Last edited by winner69; 22-07-2015 at 10:22 AM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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22-07-2015, 10:25 AM
#3118
Originally Posted by NewGuy
Never too late to swallow your pride and buy some SUM before it hits $5, Roger. It will be there by the end of the year IMHO...
Roger will be happy with his MET which will be back over $5 soon and why would he pay $4 when he could get them for $3.50 ish in a few months if he wanted
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22-07-2015, 10:45 AM
#3119
Originally Posted by NewGuy
Never too late to swallow your pride and buy some SUM before it hits $5, Roger. It will be there by the end of the year IMHO...
LOL Wild horses couldn't drag me onto the share register mate. I buy well managed, well governed, proven companies on realistic metrics. So many hurdles this pup doesn't jump...
Last edited by Beagle; 22-07-2015 at 10:50 AM.
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22-07-2015, 11:05 AM
#3120
Member
Originally Posted by Roger
LOL Wild horses couldn't drag me onto the share register mate. I buy well managed, well governed, proven companies on realistic metrics. So many hurdles this pup doesn't jump...
I guess SUM fell into this category last year (see post 1737) so things change fast. Maybe it's back on track... time will tell I guess.
Last edited by Cricketfan; 22-07-2015 at 11:07 AM.
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