Basically a REIT with a big bank loan and property investments in Europe.
Total liabilities = £243m.
Total Assets = £346m
Latest half yearly report here :
http://www.rns-pdf.londonstockexchange.com/rns/7260R_-2010-8...
i.e. Equity at £103m
Market cap currently around £30m.
Unless property in Europe continues to dive (which isn't impossible) should be a good if not great investment.
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