Property Finance And Tax, Cromwell Property Group

4151 words - 17 pages

Property Finance and Tax
Assignment 1

Cromwell Property Group

Table of Contents
2.0 Introduction 3
3.0 Background of company 4
3.1 Cromwell Property Securities limited 4
3.2 Cromwell Property Services Pty Ltd 4
4.0 Current Quantitative Considerations 5
5.0 Cromwell Position Prior to Global Financial Crisis 6
6.0 2007 Overview 7
7.0 2008 Overview 8
8.0 2009 10
9.0 2010 11
10.0 2011 12
10.1 Hedging 12
11.0 Cromwell’s financial position post GFC 13
End of 2010 figures 13
End of 2007 figures 13
12.0 Comparison to Mirvac Group and Stockland Corp 14
13.0 Conclusion 14
14.0 References 15

Introduction

Before the 2007 global financial ...view middle of the document...

Asset sales
6. Refinancing
7. Strategy and possible set up for future problems

With the common and excepted downs, Cromwell has produced some record profits during its ups, with the five-year overview and analysis of the company this is clearly evident. Due to a very professionally strong board of directors the company looks to have a positive prospective for the future. By collecting and analysing the last five years of data it is evident that Cromwell has a lot of money baked in assets and in having this they are able to make money during rough economical times.

Background of company

With a current share price of $0.68, Cromwell Group is a highly traded security on the ASX. With around 350,000 shares traded daily, the Group has a strong market cap at $620 million. Currently Cromwell’s assets are predicted at over the 1.3 billion dollar mark and are spread out over all states of Australia. Originally only specialising in property investment, the Group now managers property assets, developments and projects and fund management activities carried out by the company and its wholly owned subsidiaries. Regarded as the 17th largest company in Queensland and 190th in Australia about 70% of distributions now come from the Trust’s property income. (http://www.cromwell.com.au/aboutcromwell/aboutcromwell/) With strong dividend settlements of around 2 cents, Cromwell Group continues to strengthen its portfolio of properties under management. To maintain greater efficiencies in all of Cromwell’s property investment they have set up two business components. One business for equity and capital raising which is called Cromwell Property Securities limited and the other one for management and leasing called Cromwell Property Services Pty Ltd
Cromwell Property Securities limited

Designed purely to promote and manage planned investments, Cromwell Property Securities Limited (CPS) is an unlisted public company. Holding an Australian Financial Services license allows it to act as a single accountable entity of direct property and mortgage funds. (Group, 2010) CPS main objective is to raise capital and manage funds for Cromwell’s investment products.

Cromwell Property Services Pty Ltd

The important part of CPS is holding a corporate real estate license and performing the continuing role of running the property portfolio of Cromwell Group. Once the Group obtains the property a very important role of the company to ensure it is run well and managed accordingly. An integrated property management strategy centres all aspects of property management from obtaining, constant organisation and clearance.

Current Quantitative Considerations

Name: Cromwell Property Group

ASX Listing: CMW

Market Cap: $620 million

Majority Shareholder: Redefine Australian Investments Limited (with 20%)

Today’s share price (22/2 ): $0.68

12 month low: $0.66 (17/06/2011)

12 month high: $.0.80 (18/2/2011)

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