15 Dec 2015 10:37
Safeland plc ("Safeland" or the "Company")
Acquisition
Safeland is pleased to announce that its wholly owned subsidiary, Cloverdale Estates Limited, has exchanged contracts to purchase a substantial detached freehold house in a prime location in Hampstead Garden Suburb, London N2 for a consideration of £6.225 million in cash. The consideration will be funded by a combination of debt from the Company's existing bank facilities and the Company's own cash.
The Company plans a comprehensive refurbishment of the property, which is expected to take approximately 9 months to complete, prior to seeking to onward sell the property. Completion is expected to take place on 30 March 2016.
For further information, please contact:
Safeland plc +44 (0)20 8815 1600
Larry Lipman, Managing Director
Colin Stone, Finance Director
Westhouse Securities Limited +44 (0)20 7601 6100
Tom Griffiths