Hansteen Holdings plc Compulsory Purchase of Saltley Business Park (4731H)
March 13 2018 - 2:00AM
UK Regulatory
TIDMHSTN
RNS Number : 4731H
Hansteen Holdings plc
13 March 2018
13 March 2018
Hansteen Holdings PLC
("Hansteen" or the "Company")
Compulsory Purchase of Saltley Business Park, Birmingham
Hansteen (LSE: HSTN), the investor in UK industrial property,
announces that the Secretary of State for Transport has acquired
Saltley Business Park, Birmingham from a subsidiary of the Company,
by way of a compulsory purchase order (CPO) under the High Speed
Rail (London - West Midlands) Act 2017, to enable construction of
the first phase of the HS2 route.
As part of the CPO process, High Speed Two (HS2) Limited, acting
on behalf of the Secretary of State, has stated that a down payment
of GBP36.96 million will be made, and a mutual valuation process is
under way which is designed to establish the property's market
value. In the short term, the Company plans to use the initial
proceeds to reduce the balance on its revolving debt facility.
Saltley Business Park comprises a substantial multi-let
industrial estate totalling 1,078 million sq ft in 22 units with an
ERV of GBP4.6 million per annum. The Park is situated on a
strategic, self-contained site of approx. 47 acres, on the eastern
edge of Birmingham City Centre, with easy access to the M6.
Enquiries:
Hansteen Holdings PLC Tel: +44 (0) 20 7408 7000
Ian Watson
Morgan Jones
Tavistock Tel: +44 (0) 20 7920 3150
Jeremy Carey 07836 734 625
Kirsty Allan 07824 393 242
Important notices
This announcement contains inside information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQFKBDPABKDFND
(END) Dow Jones Newswires
March 13, 2018 03:00 ET (07:00 GMT)
Hansteen (LSE:HSTN)
Historical Stock Chart
From Apr 2024 to May 2024
Hansteen (LSE:HSTN)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Hansteen Holdings Plc (London Stock Exchange): 0 recent articles
More Hansteen Hldgs News Articles