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27 May 2016 10:48
27 May 2016
Specialist Investment Properties plc
(the "Company" or "SIPP")
Acquisition of Property
The Company is pleased to announce a further property acquisition, being the fourth property that the Company has acquired since implementing its new investment policy in early 2016.
Secta Properties Limited ("Secta"), a subsidiary of SIPP, has exchanged and completed on a property in Birmingham which is to be leased to a care operator, Midway Care Group Ltd on a 25-year inflation linked full repair and insuring lease. The property will provide supported living accommodation to adults with learning disabilities.
The consideration for acquisition was £245,000 with SIPP funding £92,000 and the balance coming from funds drawn under its loan facility agreement with Heritage Square Limited. The property was purchased from two private individuals, Thomas Hopkins and Kathleen Hopkins.
For further information:
Specialist Investment Properties plc
David Craine
+44 (0) 1624 626586
Allenby Capital Limited (Nomad and Broker to the Company)
Simon Clements / David Worlidge / James Thomas
+44 (0) 20 7167 6433
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