Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Countryside Properties PLC
  6. News
  7. Summary
    CSP   GB00BYPHNG03

COUNTRYSIDE PROPERTIES PLC

(CSP)
  Report
Delayed Quote. Delayed London Stock Exchange - 10/15 11:35:04 am
477.4 GBX   -1.04%
10/13COUNTRYSIDE PROPERTIES : Black History Month
PU
10/13WORKING IN PROPERTY : it's not always about bricks and mortar
PU
10/13COUNTRYSIDE PROPERTIES : Names Interim CFO
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

UK's Countryside drops rent doubling clauses after settlement

09/15/2021 | 04:02am EDT

Sept 15 (Reuters) - UK's Countryside Properties will drop contract terms that lock leaseholders into rents that double every 10 or 15 years, it said on Wednesday, ending a year-long probe into the housebuilder by a British regulator.

The company said it would set aside 5 million pounds ($6.9 million), in addition to a 10-million-pound previous provision to repay affected customers as part of a ground rent assistance scheme. Ground rent is a fee paid by leaseholders to cover the land a home sits on.

Britain's Competition and Markets Authority (CMA) launched an investigation last September, filing cases against property developers Barratt, Taylor Wimpey and Persimmon besides Countryside.

"This settlement with Countryside will mean thousands more leaseholders are given the fair treatment they deserve," British housing secretary Robert Jenrick said in a statement from the CMA. "I strongly urge others to follow suit and end these historic practices."

The agreement, which will help Countryside avoid potential court action, includes dropping the 10- and 15-year clauses at no cost to leaseholders, except in leases where the beneficiary is a local authority or a registered provider of social housing.

In March, peer Taylor Wimpey said it was cooperating with the regulator after it was asked to drop unfair ground rent terms from contracts, while in June, Persimmon and a fund managed by Aviva in June too agreed to drop similar terms.

($1 = 0.7236 pounds) (Reporting by Aby Jose Koilparambil in Bengaluru; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BARRATT DEVELOPMENTS PLC 0.91% 689.4 Delayed Quote.1.97%
COUNTRYSIDE PROPERTIES PLC -1.04% 477.4 Delayed Quote.3.21%
PERSIMMON PLC 0.49% 2692 Delayed Quote.-3.14%
TAYLOR WIMPEY PLC 1.22% 157.2 Delayed Quote.-6.33%
All news about COUNTRYSIDE PROPERTIES PLC
10/13COUNTRYSIDE PROPERTIES : Black History Month
PU
10/13WORKING IN PROPERTY : it's not always about bricks and mortar
PU
10/13COUNTRYSIDE PROPERTIES : Names Interim CFO
MT
10/13BARRATT DEVELOPMENTS : New Barratt Developments CFO to Join in December
MT
10/08COUNTRYSIDE PROPERTIES : First homes complete at Countryside's major regeneration scheme i..
PU
10/05COUNTRYSIDE PROPERTIES : Metropolitan Thames Valley Housing and Countryside form joint ven..
PU
10/04COUNTRYSIDE PROPERTIES : Our commitment to building communities
PU
10/04COUNTRYSIDE PROPERTIES : Plan better with communities in mind, Localis report urges
AQ
09/30UNITED WE STAND, DIVIDED WE FALL : National Inclusion Week 2021
PU
09/28LONDON STOCK EXCHANGE : Homebuilders and financials drag FTSE 100 down; Smiths Group top g..
RE
More news
Analyst Recommendations on COUNTRYSIDE PROPERTIES PLC
More recommendations
Financials
Sales 2021 1 465 M 2 013 M 2 013 M
Net income 2021 91,7 M 126 M 126 M
Net Debt 2021 9,09 M 12,5 M 12,5 M
P/E ratio 2021 25,5x
Yield 2021 1,34%
Capitalization 2 486 M 3 401 M 3 417 M
EV / Sales 2021 1,70x
EV / Sales 2022 1,34x
Nbr of Employees 1 924
Free-Float 99,0%
Chart COUNTRYSIDE PROPERTIES PLC
Duration : Period :
Countryside Properties PLC Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends COUNTRYSIDE PROPERTIES PLC
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 482,40 GBX
Average target price 532,00 GBX
Spread / Average Target 10,3%
EPS Revisions
Managers and Directors
Iain Duncan McPherson Group Chief Executive Officer & Director
Mike Scott Group Chief Financial Officer & Executive Director
John Walley Martin Non-Executive Chairman
Sally Morgan Independent Non-Executive Director
Amanda Jane Burton Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
COUNTRYSIDE PROPERTIES PLC3.21%3 401
D.R. HORTON, INC.23.08%31 321
SEKISUI HOUSE, LTD.14.21%14 242
PULTEGROUP, INC.10.81%12 779
PUBLIC JOINT STOCK COMPANY PIK-SPECIALIZED HOMEBUILDER113.25%11 779
PERSIMMON PLC-3.14%11 694