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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Telford Homes plc    TEF   GB0031022154

TELFORD HOMES PLC (TEF)
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Telford Homes : celebrates with event led by Sir Robin Wales, Mayor of Newham

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07/28/2017 | 10:44am CET

On Wednesday 12th July, Telford Homes celebrated the 'topping out' of its landmark residential tower Stratosphere, located in ever-evolving Stratford. The event, marking the completion of the building's concrete frame, was attended by Sir Robin Wales, Mayor of the London Borough of Newham, who unveiled a ceremonial plaque and congratulated the Telford Homes construction team on their achievement.

Guests were shown to the spectacular roof for refreshments and to take in the unrivalled London skyline views that a high-tech resident's gym and Wifi lounge will offer residents once completed. The Topping Out ceremony is a tradition held for good luck and is celebrated when a building reaches its full height. The ceremony, originating from the time of the Aztecs, once included feasts and sacrifices to the Gods. Now, the unveiling of a plaque usually marks this significant milestone. Sir Robin Wales was joined by VIPs from the London Borough of Newham, LLDC, Worshipful Company of Carpenters, NHBC and East Thames Housing, as well as the consultants and staff of Telford Homes for the unveiling.

Jon Di Stefano, CEO at Telford Homes, comments: 'We are excited to celebrate the 'Topping Out' of Stratosphere and to have Sir Robin Wales join us for the occasion. The development benefits from both fantastic design and location, which has been key to its success, particularly with first time buyers, young professionals, and investors.

'Stratford has significantly transformed over the last decade with the opening of Westfield Stratford City and hosting the Olympics Games in the former Olympic Park in 2012. These local landmarks have ultimately provided residents with unrivalled facilities and transport infrastructure connecting them to wider London in a matter of minutes.'

All 307 apartments at Stratosphere were successfully sold a year ahead of construction completion, receiving a record number of enquiries from buyers looking for an affordable and accessible location with close proximity to Stratford and other fashionable neighbourhoods such as Shoreditch and Hoxton. The employment hubs of Canary Wharf and The City are eight and nine minutes away respectively by tube and Stratford station is a mere two minute walk from Stratosphere.

Each of the apartments at Stratosphere offer an outstanding specification, including kitchens from London designer Urban Myth, with stone worktops and integrated Smeg appliances, bespoke cabinetry in the bathrooms and premium quality timber laminate flooring throughout the kitchen, living room and hallway. All homes benefit from under-floor heating. Residents will enjoy the 24-hour concierge service located within a sleek and stylish ground floor reception as well as a private residents' gymnasium, residents Wi-Fi lounge and terrace, all of which are located on the roof-top at the pinnacle of the tower.

Telford Homes plc published this content on 18 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 July 2017 08:43:04 UTC.

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Financials ( GBP)
Sales 2018 336 M
EBIT 2018 47,1 M
Net income 2018 35,6 M
Debt 2018 163 M
Yield 2018 4,21%
P/E ratio 2018 8,47
P/E ratio 2019 7,19
EV / Sales 2018 1,39x
EV / Sales 2019 1,12x
Capitalization 303 M
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Mean consensus BUY
Number of Analysts 4
Average target price 4,75  GBP
Spread / Average Target 18%
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Managers
NameTitle
Jonathan Di-Stefano Chief Executive Officer & Director
Andrew Graham Wiseman Chairman
Katie Rogers Executive Director & Group Finance Director
John Anthony Fitzgerald Director & Group Managing Director
David Leonard Durant Director, Director-Group Planning & Design
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