Driver Group plc
02 June 2006
DRIVER GROUP PLC
('Driver Group' or 'the Group')
Announces Acquisition of Edinburgh Property
Driver Group, which provides specialist commercial and dispute resolution
services to the construction industry, is pleased to announce that it has
acquired freehold commercial premises in central Edinburgh for a total
consideration of £0.725 million plus VAT. The acquisition will be funded from
the Group's cash resources prior to the funds raised at the time of its
Admission to AIM in October last year.
The property comprises 2,600 sq ft of space at 71 Hanover Street, Edinburgh. It
will be Driver Group's new base for its operations in Scotland and its purchase
is part of the Group's strategy to expand significantly its presence in the
area.
The acquisition follows the appointment, in May, of Alexander Dickson as
director of the Group's Scottish office, a newly created position. Driver Group
currently has an operation based in Glasgow.
The property is located in the City centre, very close to Edinburgh Castle. The
building, dating from 1850, is of traditional stone-built construction and
provides office space on the basement, ground and three upper floors.
Steve Driver, Chief Executive of Driver Group, said,
'We believe there is significant scope to expand our presence in Scotland, where
currently we operate from a base in Glasgow and I am delighted to announce the
acquisition of these new premises.
Construction is a significant contributor to the Scottish economy and I am
confident of our ability to expand our presence here over time. Last month, we
created the new role of director of Scotland, appointing Sandy Dickson, who has
22 years' experience of the construction industry and I am confident that he
will help us to achieve our ambitious expansion plans here.'
Enquiries:
Driver Group plc Steve Driver, CEO T: 01706 244 172
WH Ireland David Youngman T: 0161 832 2174
Biddicks Katie Tzouliadis T: 020 7448 1000
This information is provided by RNS
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