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  1. #1
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    Default 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

  2. #2
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    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?

  3. #3
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    $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)

  4. #4
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    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

  5. #5
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    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.

  6. #6
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    Dorchester Property Trust - Letter to Unit Holders

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

  7. #7
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    DPT has resumed trading today

  8. #8
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    Dochester Property Trust Annual Meeting

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

  9. #9
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    Dorchester Property Trust Annual Report for the year ended 31 March 2012

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

  10. #10
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    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.

  11. #11
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    blackcap have some of these but just in the bottom draw
    Possum The Cat

  12. #12
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    Quote Originally Posted by POSSUM THE CAT View Post
    blackcap have some of these but just in the bottom draw
    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.

  13. #13
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    blackcap would be great if they made Share Offer to take them back into the company.
    Possum The Cat

  14. #14
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    Quote Originally Posted by POSSUM THE CAT View Post
    blackcap would be great if they made Share Offer to take them back into the company.
    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.

  15. #15
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    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

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