Business
Freehold property purchase
Freehold property purchase.
About this update from Judges Scientific Plc
[{"type":"text","content":"\n Judges Capital PLC\n25 March 2008\n\n\n25 March 2008\n\n Judges Capital Plc\n ('Judges Capital' or the 'Company')\n\n Relocation of Aitchee via freehold property purchase\n\n\nJudges Capital is pleased to announce that it has exchanged contracts for the\npurchase of the freehold of Unit 18, Charlwoods Road, East Grinstead, West\nSussex, a property that adjoins the Fire Testing Technology ('FTT') factory. The\npurchase is being made from a third party.\n\nThe 8,500 sq ft building is being purchased for £490,000, while costs associated\nwith refurbishment and the relocation of the Aitchee operation are estimated at\n£100,000. The surplus office area and a small proportion of the industrial space\nwill be marketed for rent. It is anticipated that the purchase will be completed\non 1 April 2008 and the premises move is expected to take place in June 2008.\n\nDavid Cicurel, Chief Executive of Judges Capital, commented: 'The purchase of\nUnit 18 fulfils our objectives at the time of the acquisition of Aitchee in\nSeptember 2006, namely the relocation of operations into more appropriate\npremises as close as possible to FTT. We are confident that this development\nwill enable Aitchee to expand its sales and enhance its co-operation with FTT.'\n\nThe property purchase will be financed through the Company's relatively large\nunused cash balances. It is the Board's intention to put a commercial mortgage\nin place as and when the Company requires further funds to facilitate its\nacquisition programme.\n\n\nPress enquiries:\n\nDavid Cicurel, CEO, Judges Capital\nTel: 01342 323 600\n\nPascal Keane, Shore Capital\nTel: 020 7408 4090\n\nMelvyn Marckus, Cardew Group\nTel: 07775 896 491\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2058,"tagName":"div"}]