Business
Divestment of Investment Property
AIREA plc announced the disposal of its investment property in Bury, Greater Manchester, to M&T Investments Group Limited for a total cash consideration of £4,175,000. The disposal includes a rent-free period of one month valued at £28,750, resulting in a net consideration of £4,146,250, which is similar to the property's carrying value of £4,100,000 as of December 31, 2024. In the year ended December 31, 2024, the investment property generated a rental income of £345,000. The company intends to use the proceeds from the disposal to repay all bank debt, strengthening its cash position and providing financial flexibility for future growth investments. Legal completion of the disposal is expected on October 3, 2025. Disclaimer*
About this update from Airea Plc
[{"type":"text","content":"\n\n \n30 September 2025\nAIREA plc\n \n(\"AIREA\", the \"Group\" or the \"Company\")\n \nDivestment of Investment Property\n \nAIREA plc (AIM: AIEA), the UK design-led specialist flooring company, supplying both the UK and international markets, announces that it has today exchanged contracts on the disposal of its investment property in Bury, Greater Manchester (the \"Investment Property\"), to M&T Investments Group Limited for a total cash consideration of £4,175,000 (the \"Disposal\"). Legal completion of the Disposal is expected to take place on 3 October 2025.\n \nThe total consideration includes a rent-free period of one month amounting to £28,750. Deducting this from the total consideration gives a net consideration of £4,146,250 which is similar to the carrying value of the property on the balance sheet as at 31 December 2024 of £4,100,000.\n \nIn the year ended 31 December 2024, the Investment Property generated a rental income of £345,000.\n \nThe proceeds from the Disposal will be applied to the repayment of all bank debt, thereby strengthening the Group's cash position considerably. This will in turn provide the Group with additional financial flexibility during a period of significant investment ahead of the expected future growth of the Group.\n \n- Ends -\n \nFor further information please contact:\n \n\n\n\n\nAIREA plc\nMédéric Payne, Chief Executive Officer\nConleth Campbell, Chief Financial Officer\n\n\nTel: +44 (0) 192 426 6561\n\n\n\n\nSinger Capital Markets\n(Nominated Adviser and Sole Broker)\nPeter Steel / Sam Butcher\n\n\n\nTel: +44 (0) 20 7496 3000\n\n\n\n\n\nNorthstar Communications \n(Financial Media and PR)\nSarah Hollins\n\n\nTel: +44 (0) 113 730 3896\n\n\n\n\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) ...