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14 May 2012 11:00
Warner Estate Holdings PLC
("Warner Estate" or "the Group")
SALE OF 60 NEW BROAD STREET, LONDON EC2
Warner Estate announces that, on 11 May 2012, it exchanged contracts for the sale of 60 New Broad Street, London EC2 for a cash consideration of £28.624m to RREEF Spezial Invest, who were acting on behalf of RVK Europa. The sale is due to complete on 18 May 2012. The property had a book value of £28.9m as at 30 September 2011 and contributed £0.5m of net annual rent in the year ended 31 March 2011. The net proceeds from the sale of £27.844m will be utilised to reduce the Group debt.
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Date: 14 May 2012
For further information contact:
Warner Estate Holdings PLC |
Philip Warner, Chairman |
Mark Keogh, Group Managing Director |
Robert Game, Group Managing Director, Property |
Tel: 020 7907 5100 |
Web: www.warnerestate.co.uk |
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