LONDON (Alliance News) - Northacre PLC Friday said its Northacre Capital Ltd subsidiary has completed the acquisition of 22 Prince Edward Mansion in London for GBP3.7 million.
Northacre said the deal will be financed through a combination of existing cash resources and third party debt finance.
The property is a period mansion block in Notting Hill and the development of the site will involve creating a 2,675 square foot lateral penthouse apartment.
Northacre expects to start work on the site in October 2014 and said it expects to complete the work in summer 2015.
Northacre shares were untraded at 69.5 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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