Last checked at 
(Correcting that Kainos is based in Belfast.)
(Alliance News) - Kainos Group PLC on Thursday said it has completed contracts in connection with the sale of its Mount Charles, Belfast site to Queens University Belfast for GBP1.5 million.
Kainos is a Belfast-headquartered IT provider working across three divisions: Digital Services, Workday Services and Workday Products.
The company said the GBP1.5 million price agreed for the Mount Charles site was the best price obtainable and followed an open-market disposal process.
Kainos added that it decided to sell the Mount Charles site because of its decision to proceed with the development of its new offices at Bankmore Square, Belfast.
The company intends to sell 60% of its existing Bankmore Square site to Queens University Belfast for a total of GBP6.2 million. Contracts for the Bankmore Square site have been already exchanged, with contract completion planned for December 2024.
The total payable by QUB for the Mount Charles and Bankmore sites will be GBP7.7 million.
Shares in Kainos were up 0.7% at 1,306.00 pence on Thursday morning in London.
By Heather Rydings, Alliance News senior economics reporter
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