Business
Disposal
Disposal.
About this update from Comptoir Group Plc
[{"type":"text","content":"\n Comland Commercial PLC\n22 December 2006\n\n\n\n\n\n22 December 2006\n\n\n\n Comland Commercial PLC ('Comland Commercial' or the 'Company')\n\n\n\n Disposal of Property Assets\n\n\n\nOn 19 December 2006 Comland Commercial exchanged contracts on the sale of seven\nproperties to a subsidiary of Devonshire Investment Holdings Limited for\nconsideration of £29.35 million, in aggregate, payable in cash on completion.\n\n\n\nThe disposal of five of these properties, Anglers Court in Marlow, Chiltern\nHouse in Marlow, 14 High Street in Windsor, Market House in Wokingham and\nFairview Industrial Estate in High Wycombe, is due to complete on 22 January\n2007 for consideration of £17.76 million and the disposal of the two remaining\nproperties, Red Lion House in High Wycombe and 62 High Street in Marlow, is due\nto complete on 2 April 2007 for consideration of £11.70 million. These seven\nproperties have been substantially let and yielded profit before taxation of\n£0.54 million, in aggregate, in the year ended 31 March 2006. They had an\naggregate book value of £21.74 million at 31 March 2006 and their disposal will\nrealise a profit before tax of in excess of £8 million, in aggregate.\n\n\n\nThe proceeds from these disposals will be utilised in reducing bank debt and in\nfunding future development projects and acquisitions.\n\n\n\nEnquiries\n\n\nComland Commercial PLC 01628 535 777\nChris Martin\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1803,"tagName":"div"}]