Highcroft Investments PLC Commercial Property Investment (6220S)
08 Novembre 2013 - 5:11PM
UK Regulatory
TIDMHCFT
RNS Number : 6220S
Highcroft Investments PLC
08 November 2013
HIGHCROFT INVESTMENTS PLC
8 November 2013
Commercial Property Investment
The Board is pleased to announce that Rodenhurst Estates Limited
(the property owning subsidiary of Highcroft Investments PLC) has
today agreed the purchase of a property located in Penarth Road,
Cardiff from St Mary's Court Holdings Limited. The property
consists of a modern office building on 4 floors comprising
approximately 17,800 sq ft and 13 car spaces, constructed in
2004/5. The property is let in its entirety to Arriva Trains Wales
Ltd for a term expiring in March 2019.
The consideration of GBP2,350,000 net of costs has been funded
out of the group's own cash resources and some bank debt. The
current rent is GBP323,622 per annum representing a net initial
yield of 13.02 %.
Commenting on the acquisition Chief Executive Simon Gill said:
"The purchase of this office investment in Cardiff provides a very
attractive yield secured on a quality property which will enhance
investor return and which will give further balance to the existing
portfolio, adding to the two existing office investments. The
location is one that should witness continued improvement,
adjoining the rail station and very close to the city centre."
For further information, contact:
Highcroft Investments PLC
John Hewitt / Roberta Miles 01865 840023
Charles Stanley Securities
Dugald J. Carlean / Karri Vuori 0207 149 6000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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