Property Acquisition (6826Y)
30 Dezember 2010 - 8:00AM
UK Regulatory
TIDMHCFT
RNS Number : 6826Y
Highcroft Investments PLC
30 December 2010
HIGHCROFT INVESTMENTS PLC
Commercial Property Investment
The Board is pleased to announce that, having reviewed many
opportunities during 2010, Rodenhurst Estates Limited the
subsidiary of Highcroft Investments PLC, completed the purchase of
a property located in Leamington Spa on 29 December 2010. The
property comprises a terrace of three industrial units currently
operated as one, and let to one tenant with an unexpired lease term
of 12 years. The acquisition for a consideration of GBP1,475,000
net of costs has been funded out of the group's own cash resources.
The current rent is GBP105,000pa.
The Board is also pleased to report that, since the Interim
Management Statement, Rodenhurst has also exchanged contracts on
the sale of one of its residential properties and this transaction
will be completed in the New Year.
Commenting on the acquisition Chairman John Hewitt said: "This
investment is part of a continuing programme to enhance the quality
of our property portfolio and in particular to improve our average
unexpired lease term and our covenant and yield profile."
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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