O Twelve Finds the Bottom


O Twelve Estates, the closed-ended investment company created to take advantage of a hoped-for bump in London commercial property prices as the 2012 Olympics approach, has seen its portfolio stabilise in value over the last half year.

Between March and September, the collection of properties it has purchased in the Thames Gateway – a 40-mile stretch of land along the river, from inner-London into South East England – has fallen in value by less than half a percent, to £171.5 million. OTE’s six-month pre-tax profit was almost £3 million, as opposed to the near £17 million loss for the preceding period.

The AIM-listed company is currently trading at around 8p per share – considerably better than its all-time low of 2.7p earlier this year, but still a far cry from the £1-plus it enjoyed until the middle of 2007.