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Share Price: 18.00

Bid: 17.50

Ask: 18.50

Change: -1.00 (-5.26%)

Spread: 1.00 (5.714%)

Open: 17.50

High: 18.40

Low: 17.50

Prev. Close: 19.00

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First Property Group Partnership Sells Remaining Properties

Thu, 26th Mar 2015 09:44

LONDON (Alliance News) - Property fund manager First Property Group PLC on Thursday said its Fprop PDR partnership has contracted to sell its two remaining properties.

First Property said it will make a GBP2.5 million profit for the sale of the properties. The first GBP1.5 million will be recognised in the current financial year to the end of March, with the remaining GBP1 million to be recognised in its 2016 accounts.

Fprop was created in 2013 with clients of American professional services company Towers Watson & Co.

Shares in First Property were up 1.6% to 32.50 pence on Thursday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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