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16 Jan 2012 07:00
16 January 2012
GRESHAM HOUSE PLC
("Gresham House" or the "Company")
Property update
The Board of Gresham House is pleased to announce that, on 4 January 2012, planning consent was received for the development of a new 1,676 sq m Lidl Foodstore at its site in Vincent Lane, Dorking.
Contracts had been exchanged in March 2011 with T E Beteiligungs GmbH for the sale of 1.1 acres of the 3 acre site owned by the Company for ÂŁ1.88m in cash, subject to the receipt of planning permission. ÂŁ1.88m represents a premium to book value of approximately ÂŁ700,000. The sale is expected to complete in May 2012.
Enquiries:
| Gresham House plc Derek Lucie-Smith, Chief Executive Officer Brian Hallett, Finance Director and Company Secretary | 020 7590 7500 01489 570 861 | ||
| Arbuthnot Securities Limited Neil Kirton | 020 7012 2000 |
ENDS
Copyright Business Wire 2012
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