Highcroft Investments PLC Long leasehold warehouse property disposal (2870J)
03 Décembre 2018 - 5:30PM
UK Regulatory
TIDMHCFT
RNS Number : 2870J
Highcroft Investments PLC
03 December 2018
Highcroft Investments PLC
3 December 2018
Long leasehold warehouse property disposal
The Board is pleased to announce that Highcroft Investments PLC
has today exchanged and completed on the sale of the long leasehold
interest of its property on the Nursling Industrial Estate,
Southampton.
The property comprises a warehouse unit of 25,300 sq ft, on a
1.45 acre site. It is occupied by Metabo (UK) Ltd on a lease
expiring in September 2020 producing an income of GBP184,000 per
annum. The sale price was GBP3,670,000 which represents a net yield
of 4.7%. The property was acquired by Isle of Wight Council.
Commenting on the sale, chief executive Simon Gill said: 'The
board decided to take advantage of the strongest sector of the
market and were pleased to achieve sale proceeds that were
GBP945,000 (34.6%) in excess of the June 2018 valuation. The board
intends to reinvest the proceeds to obtain an enhanced yield and a
longer income stream. This sale is part of our strategic process of
continually reviewing our portfolio to maximise performance'.
For further information contact:
Highcroft Investments PLC:
Simon Gill / Roberta Miles 01865 840023
Panmure Gordon (UK) Limited:
Fabien Holler / Andrew Potts
0207 886 2500
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END
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