9 Jul 2013 07:00
Safeland Plc
"Safeland" or the "Company"
Acquisition of Property
Safeland plc is pleased to announce that it has exchanged contracts to acquire a property in Muswell Hill for a consideration of £4.65 million which is to be satisfied from a recently renewed 3 year revolving credit facility of £12.5 million. Completion of the purchase is expected at the end of September 2013.
The property which is approximately 19,500 sq ft (gross internal area) was, up until recently trading as a hotel, and has a lapsed planning consent for conversion into residential flats. Safeland intends to make a new application for a similar scheme for conversion into flats after completion of the purchase.
Enquiries:
Safeland plc
Larry Lipman, Managing Director
Colin Stone, Finance Director
Tel: 020 8815 1600
www.safeland.co.uk
Westhouse Securities Limited
Tom Griffiths
T: 020 7601 6100