01 Dec 2023
Allenby Capital - First Property Group Interims
At a 62% discount to interim NAV, the shares take a pessimistic view of the outlook, that we believe overstates the valuation risks and operational challenges First Property Group (FPO.L faces. The outlook for Poland, its key market, is good and improving and it reports solid demand for vacant space it owns directly in two strategically located office buildings in Warsaw and Gdynia. When let, this should add c. €2m to the rent roll and generate a commensurate uplift in asset values. There is al ....
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Allenby Capital - First Property Group Interims
First Property Group plc (FPO:LON) | 19.6 0 0.0% | Mkt Cap: 21.7m
- Published:
01 Dec 2023 -
Author:
David Johnson -
Pages:
11
At a 62% discount to interim NAV, the shares take a pessimistic view of the outlook, that we believe overstates the valuation risks and operational challenges First Property Group (FPO.L faces. The outlook for Poland, its key market, is good and improving and it reports solid demand for vacant space it owns directly in two strategically located office buildings in Warsaw and Gdynia. When let, this should add c. €2m to the rent roll and generate a commensurate uplift in asset values. There is al ....