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Prices & Quotes - UK Markets - Countryside Properties (CSP)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 483.40p
Change Today:
-3.00p
Market Cap:
2,537.85m
Sector:
Household Goods & Home Construction

Countryside launches new London framework with Sigma Capital

By Josh White

Date: Tuesday 22 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Countryside Properties expanded its strategic relationship with private rental sector provider Sigma Capital, it announced on Tuesday, launching a new London framework.
The FTSE 250 company said under the agreement, it would initially deliver 361 "high-quality" new-build homes for private rental from its mixed-tenure partnerships division across the capital.

It said the delivery of the private rental homes would enable the acceleration of important regeneration projects, and the earlier delivery of housing of other tenures.

The new private rental homes would comprise the first phase of housing delivery for a newly formed joint venture between Sigma and EQT Real Estate.

That joint venture, which is being supported by Homes England, was established to invest in private rental sector properties in affordable parts of Greater London within the M25, with a target of creating a portfolio with a value of more than 1bn.

Countryside said it was still seeing "attractive opportunities" for growth in its partnerships divisions, with a mix of private for sale, private rental sector and affordable homes allowing it to develop large sites more quickly in collaboration with its public sector partners.

As well as the initial sites, the agreement would provide for either party to bring forward additional development opportunities.

The board said the new agreement would facilitate further growth of the partnerships division in London as part of the strategy it outlined during its 250m equity placing in July.

As at 30 June, partnerships had 40,267 plots in its land bank or at preferred bidder stage, equivalent to nine years worth of work at 2019 volumes offering great visibility over the medium-term.

"We are delighted to have expanded our strategic relationship with Sigma and its new partner EQT Real Estate, to deliver much-needed private rental sector homes within London," said group chief executive officer Iain McPherson.

"Our partnerships business has a proven track record and, together with our clear strategy for growth, we look forward to continuing to work with our partners as we focus on the delivery of high quality and sustainable mixed-tenure communities."

At 0836 BST, shares in Countryside Properties were up 0.13% at 319p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

CSP Market Data

Currency UK Pounds
Price 483.40p
Change Today -3.00p
52 Week High 544.50p
52 Week Low 283.40p
Volume 65,520
Shares Issued 525.00m
Market Cap 2,537.85m

Performance Indicators

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What The Brokers Say

Strong Buy 3
Buy 1
Neutral 2
Sell 0
Strong Sell 1
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CSP Dividends

  Latest Previous
  Final Interim
Ex-Div 19-Dec-19 23-May-19
Paid 07-Feb-20 05-Jul-19
Amount 10.30p 6.00p

Trades for 15-Jun-2021

Time Volume / Share Price
11:23 25 @ 483.40p
11:15 253 @ 483.80p
11:13 220 @ 484.00p
11:13 539 @ 484.00p
11:12 174 @ 483.80p

CSP Key Personnel

CEO Iain McPherson