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  1. #51
    percy
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    Well team the fun continues..Roscommon Road ia a popular road for TRA to buy properties.
    10th September 2015 announcement...TRA buy property in Roscommon Road for.................. ....$4 mil........................................[Must be No.133]
    3rd August 2016 announcement....TRA buy property cnr Roscommon Road and Vogler Street for $4.8mil........................................[Must be No.160]
    13th November 2018.ARG announce they have brought a property in Roscommon Road from TRA for $8.6mil...yes you guessed it.....[Must be No.133]
    So TRA buy 133 Roscommon Road for 4mil, and three years later sell it with lease back for 15 years at $8.6mil. Win win situation for happy "partners."

  2. #52
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by percy View Post
    Well team the fun continues..Roscommon Road ia a popular road for TRA to buy properties.
    10th September 2015 announcement...TRA buy property in Roscommon Road for.................. ....$4 mil........................................[Must be No.133]
    3rd August 2016 announcement....TRA buy property cnr Roscommon Road and Vogler Street for $4.8mil........................................[Must be No.160]
    13th November 2018.ARG announce they have brought a property in Roscommon Road from TRA for $8.6mil...yes you guessed it.....[Must be No.133]
    So TRA buy 133 Roscommon Road for 4mil, and three years later sell it with lease back for 15 years at $8.6mil. Win win situation for happy "partners."
    Interesting ... just wondering based on this set of data: Who of the both companies appears to be the better property investor?

    ARG any good in selling cars?
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  3. #53
    percy
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    Quote Originally Posted by BlackPeter View Post
    Interesting ... just wondering based on this set of data: Who of the both companies appears to be the better property investor?

    ARG any good in selling cars?
    If you can find the history of Dorcester Pacific Property some where, you will see just how clever Paul Bryne was is returning capital to investors from a rat bag collection of 3rd rate properties. One of the main reasons I invested in TRA.
    From what I can gather ARG are very astute property investors,and are happy to leave car sales to others.
    I do note a lot of ChCh successful property investors are ex car dealers.
    Last edited by percy; 15-11-2018 at 10:04 AM.

  4. #54
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by percy View Post
    Well team the fun continues..Roscommon Road ia a popular road for TRA to buy properties.
    10th September 2015 announcement...TRA buy property in Roscommon Road for.................. ....$4 mil........................................[Must be No.133]
    3rd August 2016 announcement....TRA buy property cnr Roscommon Road and Vogler Street for $4.8mil........................................[Must be No.160]
    13th November 2018.ARG announce they have brought a property in Roscommon Road from TRA for $8.6mil...yes you guessed it.....[Must be No.133]
    So TRA buy 133 Roscommon Road for 4mil, and three years later sell it with lease back for 15 years at $8.6mil. Win win situation for happy "partners."
    I'm getting dizzy lol.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  5. #55
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    Assuming the land is still worth $4m as per Turners paid in 2015 for 133 Roscommon.

    Simple present val calc of the growing rental income (2.5% pa) over 15 years = $4,539,559.

    Total = $8,539,559 - not far off. Maybe some land value growth in there since 2015?

    Win/win I deduce. ARG gets long term tenant security - good result for portfolio WALE and good tenant covenant.

    TRA occupy the site they want to occupy without having capital locked in the land.

  6. #56
    percy
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    Quote Originally Posted by Fred_Rubble View Post
    Assuming the land is still worth $4m as per Turners paid in 2015 for 133 Roscommon.

    Simple present val calc of the growing rental income (2.5% pa) over 15 years = $4,539,559.

    Total = $8,539,559 - not far off. Maybe some land value growth in there since 2015?

    Win/win I deduce. ARG gets long term tenant security - good result for portfolio WALE and good tenant covenant.

    TRA occupy the site they want to occupy without having capital locked in the land.
    Bit more fun for you.
    TRA buy property for $4 mil sell it for $8.6 mil,repay the $4mil they borrowed to buy the property,and use the profit [$4.6mil] to pay the rent for the next 15 years.
    lol.
    Last edited by percy; 15-11-2018 at 02:10 PM.

  7. #57
    ShareTrader Legend Beagle's Avatar
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    But under the new accounting standard accounting for lease obligations that comes into effect in due course, future lease costs are accounted for as liabilities so they've actually made nothing on their balance sheet but will record a profit in their profit and loss statement, probably above the line as ordinary profit from operations knowing them. TRA seem quite good at this sort of creative accounting...I seem to recall a list of unusual and extraordinary items that Snoopy said quite significantly bolstered their FY18 result. Judging by their SP still in the deep doldrums it would appear they may need the help for the FY19 year.
    Disc: Own stakes in both companies but a LOT more ARG than TRA.
    Last edited by Beagle; 15-11-2018 at 02:57 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  8. #58
    percy
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    A sizable profit however it is accounted for by our resident Beagles..
    Last edited by percy; 15-11-2018 at 03:41 PM.

  9. #59
    ShareTrader Legend Beagle's Avatar
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    Not sure what Mr Market is trying to tell us about vehicle retailers at present and what to make of it all but one thing is for sure, they all need buildings and sites to work from so ARG gets a tick as a safe place to hide from this choppy and volatile market.
    TRA not the only one to be in deep doggy doo territory, check out the chart of the big listed car retailer AHG on the Aussie market. Ouch that looks like an ugly pig dog with mange.
    On the other hand Colonial Motors keeps on trucking on like the big rig Kenworth trucks they sell.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  10. #60
    percy
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    I can't wait for TRA's interim result on the 27th November.
    I am sure it will show their business model is on track.
    Comparing AHG with TRA is a bit like comparing AOG with OCA.
    Interesting maybe,but little if any correlation.
    Last edited by percy; 15-11-2018 at 04:52 PM.

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