Urban&Civic plc was formed by the combination of Urban&Civic and Terrace Hill in 2014. Our company was listed on the London Stock Exchange in parallel with a capital raise of £170m and brings together a management team and board with an outstanding track record and the ambition to grow a new “Best in Class” UK real estate business.

To generate a sustainable combination of long term cash flows and shorter term income, we will focus on:
•large scale strategic residential led sites in locations that benefit from strong transport links as well as robust local economies; and
•commercial development and trading opportunities across Central London and the UK’s regions with a focus on foodstore and leisure development.

Throughout the planning and development process our approach is to work closely with local authorities and local people to craft developments that deliver local benefits.

We also propose to retain selected commercial assets, private rental sector housing and affordable housing as part of our longer term investment in the places we have crafted.


http://www.moneyam.com/InvestorsRoom/posts.php?tid=17147#lastread
Old Terrace Hill Thread

http://www.moneyam.com/action/news/showArticle?id=4798926
Recommended Acquisition and Proposed Placing


http://www.urbanandcivic.com/home/

Urban&Civic's 9-month pretax profit £19.2m
StockMarketWire.com
Urban&Civic has booked a pretax profit of £19.2m for the nine months to Sept. 30, from a profit of £28.74m for the 12 months to end-December 2013. Revenue was £23.2m, versus £2.9m.

Acquisition and listing costs, impairment of goodwill and other administrative expenses together totalled £7.97m, against £1.08m in the 2013 period.

"Given all round progress and incremental project receipts, the Board recommends immediate commencement of dividend payments," the company said in its results statement.

"Final proposed dividend of 1.5p for 2014 (and what would have been 2.5p for the full year) satisfies the longstanding promise made by Terrace Hill to return to the dividend list and is 12 months ahead and above indications made in May," it said.

These results were the first for the enlarged Group since the completion of the integration of the Terrace Hill Group and Urban&Civic Holdings on May 22 and associated capital raise.

"The opening numbers reported today for the enlarged Group comprise the results for Urban&Civic for the nine months to 30 September 2014 and the results for Terrace Hill from the date of acquisition on 22 May 2014 through to 30 September 2014."

Ex-Dividend
05 Feb 15 Urban&Civic Plc Ord 20p [UANC] (1.5 p)

On Thursday, Urban&Civic PLC (UANC:LSE) closed at 267.50, 4.46% below its 52-week high of 280.00, set on May 16, 2014.

Urban&Civic acquires Catesby Property Group plc
RNS
RNS Number : 0594G
Urban&Civic plc
27 February 2015



27 February 2015

Urban&Civic plc

("Urban&Civic" or the "Company")





FURTHER ENLARGEMENT THROUGH THE ACQUISITION OF CATESBY





Urban&Civic is pleased to announce the acquisition of Catesby Property Group plc ("Catesby"), a well-established, planning led, strategic land company set up in 1996 by Eric Grove.



Catesby is based in Warwickshire and has specialised in residential land promotion and commercial property development since inception. The company has interests in land holdings comprising 5,300 units (predominantly through promotion agreements and partial equity ownerships) across 21 sites in areas of high housebuilder demand in the Home Counties and southern parts of the Midlands.‎



Significantly in the context of Urban&Civic' s enlarging housing pipeline in good local economies with direct national rail connections, approximately 2,600 units represent a consented urban extension of Newark-on-Trent, Nottinghamshire, where Catesby has an approximate 82% interest. The intention is that Newark will be developed in accordance with the strategic business model of selling serviced plot parcels, having invested in infrastructure and high quality public realm. Demand in the area is recovering rapidly and the cost of acquisition equates to a highly competitive £8,300 per unserviced plot with good prospects for Government Growth Fund support.



The remaining interests are of non-strategic scale and are likely to be sold on a bilateral basis without substantial further capital investment. Much of the historic success of Catesby has been derived from ‎anticipating and matching housebuilder requirements. Recent sales have achieved corresponding premiums over book carrying value.



Following an extensive due diligence process the aggregate purchase consideration has been agreed at £34.0 million for the entire issued share capital of Catesby, payable as to £22.0 million in cash, financed through existing resources and £12.0 million to be satisfied through the issue of 4,248,553 new, fully paid up, ordinary shares in Urban&Civic ("Consideration shares") and 177,697 awards under the Urban&Civic Performance Share Plan, all at 271.86 pence per share.



The Company expects the acquisition to be asset and materially earnings accretive in the current year. The gross property assets which are the subject of the transaction total £34.5 million as at 31 December 2014 including fair value adjustments. Other net assets and liabilities amount to £4.6 million. The last reported post-tax profits of Catesby for the 18 month period to 31 December 2014 were £10.8 million. The Company will be required to fair value all of Catesby's assets and liabilities for the purposes of the acquisition accounting and expects to recognise a credit to the income statement in the half year results as at 31 March 2015 of approximately £5 million, reflecting negative goodwill arising on the transaction.



Eric Grove has agreed to act as a consultant to Urban&Civic for a period of 24 months and all other staff, including Paul Brocklehurst, the longstanding Catesby Chief Executive, will remain with the group.



The Consideration shares and awards represent approximately 3% of the existing issued share capital and various restrictions have been agreed as regards their disposal. Application will be made to the FCA for the Consideration shares to be admitted to the standard listing segment of the Official List and to the London Stock Exchange for the Consideration shares to be admitted to trading on the London Stock Exchange's main market for listed securities. The Consideration shares are expected to be admitted no later than 30 days after their allotment.



Nigel Hugill, Executive Chairman, described his pleasure at the continuing progress being made by Urban&Civic:



"This is a very happy outcome for both companies. Catesby has achieved consistent, planning led success over almost 20 years and incorporation within Urban&Civic will enable the key Newark project to be developed in accordance with our business model that invests early in community infrastructure and public realm. Eric Grove brings a wealth of knowledge and experience and is a most welcome addition to our shareholder base."



Eric Grove, founder of Catesby Property Group plc, expressed similar satisfaction:



"I am genuinely delighted that Catesby is to become part of the undoubtedly impressive Urban&Civic organisation. This was not a decision to be taken lightly. We spent some six months in discussion because we were all determined to get things right. I believe we have."



ENDS

IC - Urban and Civic's shares trade at an 11% discount to forecast year-end book value. The share price discount and Britain's housing shortage should underpin further gains.

Half yearly report

Highlights:


•

Profit before tax for the six months to March 2015 £6.0 million


•

EPRA Net Assets up 14.6% over May 2014 Listing (March 2015: £371.1 million; May Listing 2014: £323.8 million)


•

EPRA Net Assets per Share up 12.1% (March 2015: 259p; May Listing 2014: 231p)


•

Total 10 month shareholder return since listing of 11.3%


•

Dividend for the period of 1.0 pence per share for shareholders on the register on 5 June for payment on 26 June 2015


•

Total dividend 2.5 pence per share to March 2015 represents 12 month acceleration from guidance on coming to market


•

Listing proceeds rapidly being put to work: £105 million deployed during six month period


•

£34 million purchase of Catesby Property Group demonstrably proving worth only three months since acquisition, providing:




o

an additional 2,600 strategic site in Nottinghamshire




o

strong near term profitability




o

robust pipeline


•

Group now holds interests in 25,000 residential plots in areas of strong housing demand


•

Housebuilder constructions to have commenced on all three consented strategic sites during 2016


•

Earlier start at Alconbury where Hopkins Homes has been selected as first delivery partner


•

Terrace Hill integration now fully complete

Plotting a break out

ST of IC -

Trading on a bid-offer spread of 270p to 274p, I rate Urban&Civic’s shares a buy ahead of the forthcoming fiscal 2015 results and have a six-month target price of 325p as I feel that the shares should be rated on a premium to what clearly is a conservative carrying value of the group's property assets.

Final results

ST of IC today - I am very comfortable maintaining my buy recommendation and 325p target price

Annual results till Sept 16


Financial highlights
•
Profit before tax for the 12 months to September 2016 £25.9 million (30 September 2015: £7.0 million)
•
EPRA net assets £409.8 million at September 2016 from £389.9 million at September 2015
•
EPRA net assets per share up 5.1 per cent to 284.2p from 270.4p at September 2015
•
Majority of asset and earnings growth attributed to H2 spanning the EU Referendum vote
•
73 per cent of Group balance sheet now in consented residential plots
•
£5.5 million of Scottish land write downs out of a total £7.5 million property impairments
•
Net gearing of 9.2 per cent at 30 September 2016; nil following post year end receipt of sales proceeds
•
Final dividend for the year of 1.8p per share, providing a full year dividend of 2.9p up approximately 10 per cent
 
Project highlights
•
981 serviced plots across five separate parcels contracted at Alconbury and Rugby over the past 12 months, including two majors: Redrow and Crest Nicholson
•
Strong start to Hopkins Homes JV at Alconbury: 19 exchanged or completed and 19 further reservations from launch in April 2016; unaffected by Brexit
•
Book valuation of unserviced plots at 30 September 2016 was £24,500 at Alconbury, £15,000 at Rugby and £7,900 at Newark
•
Good trading performance delivering gross profits of £7.1m and £5.6m from Herne Bay and Bridge Quay sales respectively
•
Catesby record pipeline of 9,500 new homes; 760 consents secured in year and 890 subsequent

14:35 06/12/2016
Director Deals - Urban & Civic Plc (UANC)
Ian Barlow, Non Executive Director, bought 10,000 shares in the company on the 5th December 2016 at a price of 210.00p. The Director now holds 53,600 shares. Story provided by StockMarketWire.com Director deals data provided by www.directorsholdings.com

Dreamcatcher, this has lost nearly a third, since Jan16 when you (Post Nr 10) were content and expecting over £3. With it close to £2 - what's the new story?
Also, I don't think a Dir buying £20k-worth is exactly confidence-building( 6Dec post), although it's a lot better than many Execs do, with general World uncertainty.



Also..... why have we lost the B=Bold and I=Italic and U=Underline buttons?)? . . . . Could this be what young programmers are taught in primary school, I wonder?

The sp has fallen the greatest since the referendum, which has left a feeling of uncertainty. Asset values have been punished as well . Clearly over sold. Urban & Civic are building more properties in house now, opposed to bringing land through the planning process and selling on. This gives a higher return as well.
Like most house builders that have taken a big knock back, this should recover and do well.

ST of IC today - Trading on a 25 per cent discount to EPRA NAV of 284p, and more than a third below current year EPRA NAV estimates of 324p and 332p, respectively, based on the latest numbers from analysts at Stifel and JP Morgan Cazenove, I rate the shares a clear buy.

Urban&Civic acquires Priors Hall, Northamptonshire
RNS
RNS Number : 2663U
Urban&Civic plc
23 October 2017
 
 
23 October 2017
Urban&Civic plc
 
Urban&Civic acquires 5,000 unit scheme under development at Priors Hall, Northamptonshire
 
Urban&Civic announces that it has purchased a 100 per cent interest in freehold land at Priors Hall in Northamptonshire for a consideration of £39.9 million. The existing consented land extends to 907 acres in two local authority areas, Corby Borough and East Northamptonshire District.  Separately, Urban&Civic has acquired a further 58 acres of mostly contiguous woodland for an additional £550,000 to take the total invested to £40.5 million. Priors Hall is being acquired from the Joint Administrators.  There is no provision for further payments to be made by Urban&Civic under the terms of either contract.
 
Priors Hall has an existing outline planning consent for 5,095 units, some of which has been sold to seven different housebuilders and is in the process of being built out.  The development is split into three residential phases with the new homes set within lakes, open parkland and forests.   Urban&Civic is acquiring 3,656 uncontracted plots, substantively comprising Phases 2 and 3 and the benefit of outstanding sums on Phase 1.  Estimated near term receipts from Phase 1 housebuilder contracts now payable to Urban&Civic are expected to be in the order of £11.8 million, including overage, giving a net purchase consideration of £28.1 million for the uncontracted plots.
 
The scheme already has more than 1,000 residents; housebuilders on site include Barratt and David Wilson, Taylor Wimpey, Kier and Francis Jackson Homes.  There were close to 200 housing completions at Priors Hall in the 12 months to March 2017.  Priors Hall Primary School for 420 children had its first intake in September 2016, and is adjacent to the Foster Associates designed Corby Business Academy, which opened in 2008.  House prices currently being achieved are in the range of £200 - £225 per square foot. 
 
The purchase of Priors Hall is being part funded by the Homes and Communities Agency ('HCA'), which is also making available additional facilities to cover future forecast infrastructure spend.  Total committed facilities from the HCA for the transaction aggregate £45.4 million, excluding accrued interest.  The terms reflect those afforded to Urban&Civic elsewhere, including the provision that repayments are made only out of distributed proceeds.  Given realistic expectations as to the sales rates arising from the Master Developer model, equity capital being invested in the project by Urban&Civic is unlikely to materially exceed £15 million.  Group facilities from the Government's housing delivery agency now total £137.8 million (again excluding accrued interest) of which £85.6 million are drawn. 
 
The Priors Hall acquisition and the extent of HCA support demonstrate the focus of Urban&Civic as Master Developer.  Working to help implement national priorities in creating quality environments and extending housing choice, the Group now owns outright or in partnership, approaching 20,000 housing plots in the process of delivery, with an additional 10,000 units on strategic sites in an immediate planning pipeline.  These represent some of the largest residential projects within 100 miles of London with strong transport connections.  A further approximately 10,000 units on smaller sites are being promoted by group subsidiary Catesby on its own behalf or that of third parties.
 

12:40 12/12/2017
Broker Forecast - Numis issues a broker note on Urban & Civic Plc
Numis today initiates coverage of Urban & Civic Plc (LON:UANC) with a buy investment rating and price target of 400p. Story provided by StockMarketWire.com

6 months results to 31 March 18