MAX Max Prop

 
TIDMMAX 
 
Max Property Group Plc 
 
Acquisition of Bars portfolio 
 
Max Property Group plc has today acquired a portfolio of fourteen night clubs 
for a total cash consideration of  GBP9,400,000. Thirteen of the clubs are freehold 
and one is leasehold. 
 
Ten of the properties are let for a minimum term of 25 years lease to Atmosphere 
Bars and Clubs with a fixed rental uplift of 15% in 2015 and thereafter five 
yearly upward only open market rent reviews. Of the remaining four properties 
one is let and three are vacant. The contracted rent roll is  GBP1,477,000 pa and 
the total floor area 256,000 sqft. 
 
The properties are in Maidenhead, Portsmouth, Colchester, Leicester, 
Northampton, Banbury, Bedford, Luton, Middlesbrough, Halifax, Barnsley, 
Scunthorpe, Wrexham and Llandudno.  The seller is a partnership in which 
Prestbury Investment Holdings Limited has a minority interest. 
 
After the paying the consideration for the transaction, Max will have in excess 
of  GBP110m in cash on deposit. 
 
27  October, 2010 
 
 
ENQUIRIES: 
 
 Prestbury Investments LLP   Tel: 020 7647 7647 
 
 Mike Brown 
 
 
 
 College Hill                Tel: 020 7457 2020 
 
 Gareth David 
 
 
 
 Morgan Stanley (NOMAD)      Tel: 020 7425 8000 
 
 Jonathan Lane 
 
 Edward Knight 
 
 
 
 
 
 
[HUG#1455983] 
 
 
 
 
 
 
 
 
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     originality of the information contained therein. 
 
Source: Max Property Group plc via Thomson Reuters ONE 
 

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