Now’s your chance
This stock is trading at 52-week lows after a massive run during 2015 saw it double in price. The drivers of the recent sell-off are in part the run-up in 2015, the recent rand strength against the pound and concerns about the Brexit referendum in late June (also see page 18).
In truth this remains a company with some of the best property assets in the world as it owns key assets in Covent Garden and Earls Court estates. The old cliché, “Buy land, they’re not making it anymore,” not only rings true, but the property in question is also in some of the most prime parts of London and the world. Of the three issues listed, only the stronger rand really is a concern and it is possible that it will strengthen further. But longer term the rand will weaken and this company will still own some of the world’s best properties. If you own the stock already, hold onto it. If you ever wanted to buy some Capital & Counties, here’s your chance to get some at lower prices.
The Southampton and The Beecham, Capco's latest luxury residential conversions, came to market for rent and sale in 2014.