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Portfolio update

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 £1.88m in cash, subject to the receipt of planning permission. £1.88m represents a premium to book value of approximately £700,000. 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

Date   Source Headline
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5th Apr 20163:45 pmRNSEXERCISE OF WARRANTS

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