Business
Investment Property Sale
Investment Property Sale.
About this update from Artisanal Spirits Company Plc
[{"type":"text","content":"\n \nRNS Number : 9704M Artisan (UK) PLC 24 August 2011 \n \n\n24 August 2011\nArtisan (UK) plc\n(\"Artisan\" or the \"Group\")\n \nInvestment Property Sale\n \nArtisan (UK) Properties Limited, a Group subsidiary, has disposed of its long leasehold building located on Artisan's Colmworth Business Park at St Neots, Cambridgeshire. The building is currently let to Black Teknigas & Electro Controls Ltd. and Watts Industries Europe B.V. under a lease which includes an option for the development of an extension. Following a renegotiation of the terms of the extension option to provide certainty and meet the occupier's desired timetable, the building has been sold to regional investor, Malco Holdings Limited.\n \nThe proceeds of the sale will be used to repay a Group debt facility secured against the property of approximately £2.25m and to provide increased working capital to the Group of approximately £1m. Artisan is very pleased to announce this transaction and believes that the additional funds provided after repayment of debt will be beneficial for its ongoing development activities.\n \n \nEnquiries:\n \n\n\n\n\nArtisan (UK) plc\nChris Musselle\n\n\n \nTel: +44 (0) 1480 436 666\n\n\n\n\n\n\n\n\n\n\n\n\nAltium \nAdrian Reed \nAdam Sivner\n\n\n \nTel: +44 (0) 845 505 4343\n\n\n\n\n\n\n\n\n\n\n\n\nBankside Consultants - Financial PR advisers\nSimon Rothschild\n \n\n\nTel: +44 (0) 20 7367 8888\n \n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END DISPIMJTMBITBAB \n ","length":4108,"tagName":"div"}]