Disposal
03 4월 2009 - 3:00PM
UK Regulatory
TIDMWNER
RNS Number : 0696Q
Warner Estate Holdings PLC
03 April 2009
Warner Estate Holdings PLC
("Warner Estate" or "the Group")
WARNER ESTATE FINALISES SALE OF ST JOHNS WOOD AS TARGET DISPOSAL PROGRAMME
COMPLETES
Warner Estate Holdings PLC announces today that it has simultaneously exchanged
and completed contracts for the sale of its St Johns Wood High Street estate to
NW8 Holdings Limited for cash consideration of GBP39m. The sale of the property,
which had a book value of GBP48m as at 30 September 2008 and contributed GBP2.1m
of net annual rent in the year ended 31 March 2008, was effected through a sale
of the company that owned the property, JS Real Estate Limited. The proceeds of
the sale will be utilised to reduce the Group debt.
The Group has now achieved property disposals from its wholly owned portfolio
totalling GBP120m since 30 September 2008, which completes the previously
published programme of property sales to reduce the Group debt.
-ends-
Date: 3 April 2009
For further information contact:
+--------------------------------------------+---------------------------------+
| Warner Estate Holdings PLC | City Profile |
+--------------------------------------------+---------------------------------+
| Philip Warner, Chairman | Simon Courtenay |
+--------------------------------------------+---------------------------------+
| Michael Stevens, Property Director | Tel: 020-7448-3244 |
+--------------------------------------------+---------------------------------+
| Mark Keogh, Finance Director | |
+--------------------------------------------+---------------------------------+
| Tel: 020-7907-5100 | |
+--------------------------------------------+---------------------------------+
| Web: www.warnerestate.co.uk | |
+--------------------------------------------+---------------------------------+
| | |
+--------------------------------------------+---------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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