Town Centre Securities (TCSC).
Based in Yorkshire. Owners and developers of commercial/retail properties, predominantly in north England and Scotland. Got some in my PEP account.

Anyone else interested? See company website HERE

Share price climbed 47% in 2003, and 38% so far this year.
Trebled in the last 4 years. Doubled in the last 14 months.
And scope for active traders to enhance gains, on top of a core holding, if they can anticipate the up/down twitches along the way. (Spread around 1%. Market cap 170m)

Management very aware of shareholders interests and promising to continue with their vigorous approach.

Ardent fundamentalists I guess may baulk at the high ratings.
Southern journalists won't even know it exists..

Town Centre Securities (TCSC) jumped nicely this morning
on results and share buyback plan. Should attract new interest
from those who don't already hold it in their peps & ISAs.

Goes ex-divi 7th Dec '11 (6.25p).
[Current sp of 172p, that makes a 3.6% yield.]
{June divi was 3.1p}

StockMarketWire.com
Town Centre Securities, the Leeds based property development company, has continued to focus on the management of its existing portfolio of investment properties and car parks. Performance overall has been consistent with the same period last year and is in line with our expectations.

Void level has been maintained at around 3%, following the considerable reduction in voids achieved through letting the vacant space at Urban Exchange and other asset management over the last year.

As at 17 November 2011, the Company had net debt of 142.8m, (30 June 2011; 140.1m) comprising 106.0m of 5.375% debenture stock repayable in 2031, and 36.8m of bank loans. This is consistent with our expectations.

Discussions are at an advanced stage to complete the refinancing of bank facilities. As previously indicated, inevitably the company will incur higher borrowing costs compared to the more favourable margins in existing facilities.

No acquisitions or disposals were completed in the period. The comnpany continues to look for opportunities to grow its property portfolio and car parking business. So far, available opportunities have not met the criteria for property acquisitions to create value.

Harry - post 3 - surely that's a yield of @5.4% ?

Yes, was just a calculation based on half year divi.. You are correct re 12 month yield.

5% spread this morning is a bit of a discouragement!

Anyone know why sudden fall today?

In IC - Town Centre Securities looks to cheap.

TCS shares trade nearly 30% below book value, reflecting downward pressure on property valuations. Yet the presssure has eased in recent months, the company is well financed and profits and dividends can start growing again.

In at 193.90

A IC update sent today.

(TCSC:198p). Interestingly, the share price looks on the cusp of a major chart break-out, too, so this looks an opportune time to investigate the investment case.

Still cheap.

Ticking up, up another 3.5% today

,

Town Centre Securities - Executive team talk about the results achieved and the development of the portfolio

Click here