Business
Acquisition of Property
Acquisition of Property.
About this update from Diales Group Plc
[{"type":"text","content":"\n Driver Group plc\n02 June 2006\n\n\n\n DRIVER GROUP PLC\n\n ('Driver Group' or 'the Group')\n\n Announces Acquisition of Edinburgh Property\n\nDriver Group, which provides specialist commercial and dispute resolution\nservices to the construction industry, is pleased to announce that it has\nacquired freehold commercial premises in central Edinburgh for a total\nconsideration of £0.725 million plus VAT. The acquisition will be funded from\nthe Group's cash resources prior to the funds raised at the time of its\nAdmission to AIM in October last year.\n\nThe property comprises 2,600 sq ft of space at 71 Hanover Street, Edinburgh. It\nwill be Driver Group's new base for its operations in Scotland and its purchase\nis part of the Group's strategy to expand significantly its presence in the\narea.\n\nThe acquisition follows the appointment, in May, of Alexander Dickson as\ndirector of the Group's Scottish office, a newly created position. Driver Group\ncurrently has an operation based in Glasgow.\n\nThe property is located in the City centre, very close to Edinburgh Castle. The\nbuilding, dating from 1850, is of traditional stone-built construction and\nprovides office space on the basement, ground and three upper floors.\n\nSteve Driver, Chief Executive of Driver Group, said,\n\n'We believe there is significant scope to expand our presence in Scotland, where\ncurrently we operate from a base in Glasgow and I am delighted to announce the\nacquisition of these new premises.\n\nConstruction is a significant contributor to the Scottish economy and I am\nconfident of our ability to expand our presence here over time. Last month, we\ncreated the new role of director of Scotland, appointing Sandy Dickson, who has\n22 years' experience of the construction industry and I am confident that he\nwill help us to achieve our ambitious expansion plans here.'\n\n\n\nEnquiries:\n\nDriver Group plc Steve Driver, CEO T: 01706 244 172\n\nWH Ireland David Youngman T: 0161 832 2174\n\nBiddicks Katie Tzouliadis T: 020 7448 1000\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2313,"tagName":"div"}]