Sign In
Last checked at 
24 Aug 2011 14:47
24 August 2011
Artisan (UK) plc
("Artisan" or the "Group")
Investment Property Sale
Artisan (UK) Properties Limited, a Group subsidiary, has disposed of its long leasehold building located on Artisan's Colmworth Business Park at St Neots, Cambridgeshire. The building is currently let to Black Teknigas & Electro Controls Ltd. and Watts Industries Europe B.V. under a lease which includes an option for the development of an extension. Following a renegotiation of the terms of the extension option to provide certainty and meet the occupier's desired timetable, the building has been sold to regional investor, Malco Holdings Limited.
The proceeds of the sale will be used to repay a Group debt facility secured against the property of approximately £2.25m and to provide increased working capital to the Group of approximately £1m. Artisan is very pleased to announce this transaction and believes that the additional funds provided after repayment of debt will be beneficial for its ongoing development activities.
Enquiries:
Artisan (UK) plc Chris Musselle |
Tel: +44 (0) 1480 436 666 |
Altium Adrian Reed Adam Sivner |
Tel: +44 (0) 845 505 4343 |
Bankside Consultants - Financial PR advisers Simon Rothschild
| Tel: +44 (0) 20 7367 8888
|
Follow the stocks
