Sale of BigBlueBox

About this update from Secure Property Development & Investment Plc

[{"type":"text","content":"\n \nRNS Number : 0526D Secure Property Dev & Inv PLC 05 October 2018  \n\nSecure Property Development & Investment PLC/ Index: AIM / Epic: SPDI / Sector: Real Estate\n \n5 October 2018\n \nSecure Property Development & Investment PLC ('SPDI' or 'the Company')\n \nSale of BigBlueBox for EUR2.5 million net\n \nSecure Property Development & Investment PLC, the AIM-quoted South Eastern European focused property and investment company, is pleased to announce it has concluded the sale of its BigBlueBox DIY retail property in Craiova, Romania (\"the BigBlueBox\"), generating €2.5m in cash (\"the Sale\") net to the Company.  \n \nSPDI completed the acquisition of the BigBlueBox, which was fully-let to Praktiker, the global DIY retailer, in an all-share transaction in July 2015.  The Sale is in line with the Company's strategy to focus on prime income producing properties in the capital cities of the fast-growing South Eastern European economies.  The Company intends to partially reinvest the capital into further properties that match its investment criteria, including repaying loans received to invest in such properties, and in turn generate value for its shareholders, with the remainder to be utilised for general working capital purposes. \n \nSPDI's core property asset portfolio consists of South Eastern European prime commercial and industrial real estate, the majority of which is let to blue chip tenants on long leases including logistics terminals in Athens and Bucharest, and office buildings in Bucharest.\n \nLambros Anagnostopoulos, Chief Executive Officer of SPDI, said: \"The sale of the BigBlueBox, which we acquired in an all-share transaction in 2015, falls into our strategy of focusing on prime income producing properties in South Eastern European capital cities.  In line with this, we will continue selling non-core assets, which has the potential to generate substantial cash flow.  Additionally, as the regional markets are buoyant and growing, we will continue to look for opportunities to bolster our core property asset portfolio, in order to generate maximum value for our shareholders.  I look forward to providing further updates in this regard in due course.\"\n \n* * ENDS * *\n \nThis announcement contains inside information f...

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