Highcroft Investments PLC Property Acquisition (0480B)
March 30 2017 - 7:18AM
UK Regulatory
TIDMHCFT
RNS Number : 0480B
Highcroft Investments PLC
30 March 2017
Highcroft Investments Plc
30 March 2017
Property Acquisition
Highcroft Investments Plc is pleased to announce that, through
its property owning subsidiary Rodenhurst Estates Ltd, it acquired
on 30 March the freehold interest in a commercial property in
Nottingham currently operating as a Booker Cash & Carry.
The property, acquired from Sackville UK Property Select II (GP)
No. 3 Ltd, comprises a warehouse totalling approximately 83,010 sq
ft let to Giant Booker Limited on a lease expiring in 2030. The
property produces an income of GBP341,046 per annum and a price of
GBP5,280,000 was paid representing a net yield of 6.09%. The
acquisition was funded from cash resources.
Commenting on the acquisition Simon Gill, Chief Executive, said:
'This new property will be a good addition to our existing
portfolio providing a projected cashflow for approximately another
thirteen years and with the benefit of guaranteed fixed minimum
uplifts upon review in 2020 and 2025. Investments of this kind are
difficult to find in the current competitive market and transacting
the deal in four days shows our ability to execute quickly and
opportunistically. We continue to seek similar investments.'
For further information contact:
Highcroft Investments Plc:
John Hewitt / Roberta Miles 01865 840023
Panmure Gordon:
Karri Vuori / Fabien Holler 020 7886 2500
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQWGUMGWUPMGPU
(END) Dow Jones Newswires
March 30, 2017 08:18 ET (12:18 GMT)
Highcroft Investments (LSE:HCFT)
Historical Stock Chart
From Apr 2024 to May 2024
Highcroft Investments (LSE:HCFT)
Historical Stock Chart
From May 2023 to May 2024