Business
Sale of Investment Property
Sale of Investment Property.
About this update from Wynnstay Properties Plc
[{"type":"text","content":"\n Wynnstay Properties PLC\n10 February 2004\n\n\nWynnstay Properties PLC\n\n\n10 February 2004\n\n\nSale of Investment Property\n\nWynnstay Properties PLC announces that on Tuesday 10 February 2004, contracts\nwere exchanged for the sale of its freehold property at 148 Bradfield Road,\nHillsborough, Sheffield for a cash consideration of £930,000, payable on\ncompletion, scheduled for 9 March 2004. This compares with its valuation of\n£825,000 at 25 March 2003, representing a profit on disposal of £105,000, before\ncosts.\n\nThe property, comprising 3 floors of office accommodation, currently produces a\nrental income of £78,350 p.a. The proceeds will be applied in reducing bank\nborrowings. Commenting on the transaction, Philip Collins, Chairman, said: 'I\nam pleased we have been successful in achieving a satisfactory price for this\nproperty. Its sale will assist the Company in pursuing our stated objective of\nconcentrating future commercial property investment in central southern \nEngland.'\n\n\n\nEND\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1293,"tagName":"div"}]