19 Sep 2014 07:00
19 September 2014
Ashley House plc
Forward Funding Agreement and Prelims
Ashley House plc ("Ashley House" or the "Company") the health and community care property partner is pleased to announce the completion of a forward funding agreement with receipt of funds for the Company's second Extra Care scheme.
Forward Funding Agreement
Albion Street, Grimsby is a purpose built 60 bedroom Extra Care unit. The scheme has been sold on a forward funding basis to a fund managed by LaSalle Investment Management, with a development agreement for Ashley House to continue to develop out the scheme. The development is scheduled for completion in mid 2015 and the agreement brings an immediate inflow in excess of £3m into the business with further payments to be made during construction.
Preliminary Announcement
The Company is pleased to advise that the preliminary announcement of the financial results for the year to 30 April 2014 will be released next week.
Enquiries:
Ashley House plc 01628 600 340
Jonathan Holmes, Chief Executive
Antony Walters, Finance Director
WH Ireland Ltd. 0207 220 1666
(Nominated Adviser and broker to Ashley House plc)
Adrian Hadden
Mark Leonard