Highcroft Investments PLC Commercial Property Disposal (5202O)
07 Novembre 2016 - 3:14PM
UK Regulatory
TIDMHCFT
RNS Number : 5202O
Highcroft Investments PLC
07 November 2016
HIGHCROFT INVESTMENTS PLC
7 November 2016
Commercial Property Disposal
The Board is pleased to announce that Rodenhurst Estates Limited
(the property owning subsidiary of Highcroft Investments PLC) has
today agreed the sale of a freehold warehouse on the Heathcote
Industrial Estate, Warwick to a private investor. It is expected
that contracts will be completed within one month.
Built in the early 1990's, the property comprises three terraced
industrial units, totalling 18,957 sq ft, let on a single FRI lease
to Nationwide Crash Repair Centres Ltd from 3 March 2008 expiring 2
March 2023. The rent is GBP118,798 pa. Contracts on the sale of the
freehold have been exchanged at GBP1,530,000 which is marginally in
excess of the June 2016 valuation of GBP1,485,000.
Highcroft intends to use the proceeds of GBP1,530,000 to
continue its strategy of investing in larger properties in the
south of England in the market that sits between private investors
and larger corporate property investors.
Commenting on the disposal Chief Executive Simon Gill said:
"Contracts were exchanged on a very short timescale. The sale
proceeds will be reinvested in a larger investment designed to meet
our stated criteria of providing good investor return and continued
dividend growth".
For further information, contact:
Highcroft Investments PLC
John Hewitt / Roberta Miles 01865 840023
Panmure Gordon (UK) Limited
Karri Vuori / Fabien Holler
0207 886 2500
This information is provided by RNS
The company news service from the London Stock Exchange
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