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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

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