Sale of Investment Property

Wynnstay Properties PLC 10 February 2004 Wynnstay Properties PLC 10 February 2004 Sale of Investment Property Wynnstay Properties PLC announces that on Tuesday 10 February 2004, contracts were exchanged for the sale of its freehold property at 148 Bradfield Road, Hillsborough, Sheffield for a cash consideration of £930,000, payable on completion, scheduled for 9 March 2004. This compares with its valuation of £825,000 at 25 March 2003, representing a profit on disposal of £105,000, before costs. The property, comprising 3 floors of office accommodation, currently produces a rental income of £78,350 p.a. The proceeds will be applied in reducing bank borrowings. Commenting on the transaction, Philip Collins, Chairman, said: 'I am pleased we have been successful in achieving a satisfactory price for this property. Its sale will assist the Company in pursuing our stated objective of concentrating future commercial property investment in central southern England.' END This information is provided by RNS The company news service from the London Stock Exchange