Last checked at 4 Jul 2011 12:59
Caledonian Trust PLC
("Caledonian")
Sale of Investment Property
Caledonian is pleased to announce that on 27 June 2011 it completed the disposal of 100 West Street, Glasgow for a cash consideration of £3.01m.
100 West Street, Glasgow is a modern purpose-built motor dealership showroom, workshop and offices on a site extending to 1.4 acres and is let to Eastern Western Motor Group Limited until 2026.
The sale proceeds have been applied towards eliminating the loan facility with National Westminster Bank Plc.
Douglas Lowe, Chairman of Caledonian, commented:
"We have now nearly completed our policy of disposing of investment assets when they 'mature'. We are concentrating on development projects including those that have a significant planning gain, that have a low downside - high upside project potential."
For further information please contact: |
Caledonian Trust plc | |
Douglas Lowe, Chairman and Chief Executive Officer | Tel: 0131 220 0416 |
Mike Baynham, Finance Director | Tel: 0131 220 0416 |
Execution Noble & Co Limited | |
John Riddell | Tel: 0207 456 9191 |
Harry Stockdale |