Capital & Counties (CAPC) delivered another robust performance in 2015, pushing adjusted net asset value (NAV) ahead by 16 per cent to 361p a share. But the share price has done badly since the start of the new year, falling nearly 30 per cent.
IC TIP:
Sell
at
325p
Currently spooking investors is the 70 acres of land at Fulham and Chelsea which was once the Earls Court exhibition centre. In a joint venture with Transport for London, in which CapCo has a 63 per cent share, the plan is to build 7,500 new homes; create 10,000 new jobs and generally help to meet London's chronic housing shortage. The first phase, released in 2014, saw 204 flats sold in just five weeks.