Disposal
16 7월 2003 - 12:20AM
UK Regulatory
RNS Number:5832N
Hampton Trust PLC
15 July 2003
Hampton Trust PLC ("Hampton Trust" or the "Company")
15 July 2003
DISPOSAL OF PROPERTY
Hampton Trust announces that its subsidiary, Bradbury Corporation Limited, has
exchanged contracts with Edlington Properties Limited ("Edlington") to dispose
of an industrial unit at Maerdy, Ferndale, Mid Glamorgan, South Wales for a
total cash consideration of #5,250,000.
Completion of the sale has occurred simultaneously with the exchange of
contracts and Edlington has paid the Company the full consideration, which will
be used to reduce the Company's indebtedness.
The property, constructed by the Welsh Development Agency in 1997, comprises a
substantial, bespoke factory unit with ancillary office accommodation on a site
of approximately 6.7 hectares (16.5 acres). The entire freehold property is
currently let to J H Fenner and Co. Limited. The net passing rent on the
property is #528,357 per annum representing an initial yield of 10.1 per cent.
The loss on disposal amounts to approximately #8,000.
Enquiries:
Hampton Trust PLC Tel: 020 7499 4994
Graeme Jackson -Chairman & Chief Executive
David Diemer - Asset Director
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