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RNS Number : 2067M

Warner Estate Holdings PLC

11 August 2011

11 August 2011

Warner Estate Holdings PLC

("Warner Estate" or "the Group")

SALE OF 16 UPPER WOBURN PLACE, LONDON

Warner Estate announces that, on 10 August 2011, it exchanged contracts for the sale of 16 Upper Woburn Place, London to Staffordshire County Council for cash consideration of GBP18.1m. The sale is due to complete on 12 August 2011. The property had a book value of GBP19.35m as at 31 March 2011 and contributed GBP1m of net annual rent in the year ended 31 March 2011. The net proceeds from the sale of GBP17.4m will be utilised to reduce the Group debt.

16 Upper Woburn Place, London is the property referred to as being under offer in the announcement on 29 July 2011 of our final results for the year ended 31 March 2011.

-ends-

For further information contact:

 
 Warner Estate Holdings PLC              City Profile 
 Philip Warner, Chairman                 Jonathan Gillen 
 Mark Keogh, Group Managing Director     Simon Courtenay 
 Robert Game, Group Managing Director,   Tel: 020 7448 3244 
  Property 
 Tel: 020 7907 5100                      warner@city-profile.com 
 Web: www.warnerestate.co.uk 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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