Wynnstay Properties Completes Disposal Of Basingstoke Property

Tue, 16th Jul 2019 13:17

(Alliance News) - Wynnstay Properties PLC on Tuesday said it has completed the sale of property in Basingstoke, England, for GBP1.8 million in cash.

Ahead of its annual general meeting, the AIM-listed property investor said the disposed property generated net rental income of GBP82,000 in the financial year to March 25.

The net sale proceeds, after costs, will realise a pretax profit of GBP352,000 over net book value of GBP1.4 million, which will be reflected in the accounts for financial 2020, it said. Wynnstay added that the sale proceeds will be held as working capital pending reinvestment.

Wynnstay shares were untraded in London on Tuesday at 570.40 pence each.

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