TIDMWSP

RNS Number : 5021B

Wynnstay Properties PLC

14 February 2022

The information communicated within this announcement is deemed to constitute inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this information is considered to be in the public domain.

WYNNSTAY PROPERTIES PLC

("Wynnstay" or the "Company")

Disposal

14 February 2022

Wynnstay is pleased to announce that on 11 February 2022 it exchanged contracts for the sale of St James House, Surbiton, KT6 4QH ("the Property") to Arvan Limited for a cash consideration of GBP2.65 million, with completion to take place by the end of February 2022.

The Property is a three storey building, with a self-contained retail unit at ground floor level, two upper floors of offices and undercroft car par k ing. The sale is with vacant possession of the two upper floors and with agreed heads of terms subject to contract for a new lease to the existing tenant of the retail unit at a rent of GBP35,000 per annum.

For the year ended 25 March 2021, the aggregate gross income received by Wynnstay from the Property was GBP187,000; and, as at 25 March 2021, the book value of the Property in Wynnstay's accounts was GBP2.5 million. The sale will thus result in a profit over book value to Wynnstay of GBP150,000, before sale costs and taxation.

The sale will be reflected in the Company's accounts for the year ending 25 March 2022, which are expected to be published in mid-June 2022.

The funds received from the sale will be used to reduce borrowings in the short-term.

For further information please contact:

Wynnstay Properties PLC:

Philip Collins, Chairman 020 7554 8766

WH Ireland Limited (Nominated Adviser and Broker):

Chris Hardie, Ben Thorne, Megan Liddell 020 7220 1666

LEI number: 2138006MASI24JYW5076

For more information on Wynnstay, visit www.wynnstayproperties.co.uk

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DISTBMPTMTBBBFT

(END) Dow Jones Newswires

February 14, 2022 01:59 ET (06:59 GMT)

Wynnstay Properties (LSE:WSP)
Graphique Historique de l'Action
De Juil 2022 à Août 2022 Plus de graphiques de la Bourse Wynnstay Properties
Wynnstay Properties (LSE:WSP)
Graphique Historique de l'Action
De Août 2021 à Août 2022 Plus de graphiques de la Bourse Wynnstay Properties