Cardiff Property PLC
15 September 2005
The Cardiff Property plc
15 September 2005
Disposal
The Cardiff Property plc announces that Campmoss Property Company Ltd, its
47.62% owned joint venture undertaking, has completed the freehold sale to a
leading UK Pension Fund of its office building known as Globe House, Clivemont
Road, Maidenhead, Berkshire for a total cash consideration of £11.06m.
The 30,000 square foot office building is let on an institutional lease for a
fifteen year term, including a tenant's break at 10 years, at a current rental
of £782,484 per annum.
The site was originally acquired in 1999 and, following the grant of planning
permission, the original building was demolished and development of a new grade
A office building was completed in 2003 and let in the same year.
Campmoss has reduced its level of borrowing and placed the balance on deposit
pending the acquisition of further property located in the Thames Valley.
For further information:
The Cardiff Property plc Richard Wollenberg 01784 437444
Arbuthnot Securities Richard Dunn 020 7012 2000
This information is provided by RNS
The company news service from the London Stock Exchange
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