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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
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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?
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Member
$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)
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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
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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.
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DPT has resumed trading today
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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
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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.
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