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Pin to quick picksWynnstay Props. Regulatory News (WSP)

Share Price Information for Wynnstay Props. (WSP)

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Acquisition

23 Sep 2019 17:45

RNS Number : 3652N
Wynnstay Properties PLC
23 September 2019
 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.

WYNNSTAY PROPERTIES PLC

("Wynnstay" or the "Company")

Acquisition

23 September 2019

Wynnstay is pleased to announce that it has today exchanged contracts for the acquisition from Threadneedle UK Property Authorised Investment Fund (the "Vendor") of an industrial property known as 34 Lake Road, Quarry Wood, Aylesford, Kent ("the Property") for a consideration of £1.84 million. The Property adjoins Wynnstay's existing 18-unit industrial estate holding and was constructed at a similar time and to a similar specification.

The Property has been operated as a single, secure industrial unit, with an extensive yard, for many years by the longstanding tenant, Loomis UK Limited. The current lease runs until 24 December 2023 and the passing rent is £76,000 per annum subject to an outstanding upward only rent review effective from 25 December 2018 (the "Effective Date"). Under the terms agreed with the Vendor, Wynnstay will retain the benefit of any increased rent following settlement of the rent review from the Effective Date.

The total acquisition cost of approximately £1.95 million, which includes stamp duty and other acquisition costs, will be funded from the Company's existing cash resources and debt facilities. This acquisition constitutes a Substantial Transaction under the AIM Rules.

Commenting on the transaction Philip Collins, Chairman of Wynnstay, said:

 "We have been interested for some time in acquiring this property adjacent to our excellent investment at Quarry Wood Industrial Estate. As with our acquisition of last year in Petersfield, it makes good commercial sense to acquire adjoining assets where we have an existing significant and well-established presence and can see continuing growth and/or development opportunities."

For further information please contact:

Wynnstay Properties Plc:

Paul Williams, Managing Director

020 7554 8766

 

Panmure Gordon (UK) Limited (Nominated Adviser and Broker):

Alina Vaskina / Ryan Lever

020 7886 2500

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
ACQLJMFTMBITBJL
Date   Source Headline
7th Dec 20235:06 pmRNSDirector Dealing
7th Dec 20237:00 amRNSAcquisition
7th Nov 202311:00 amRNSInterim Results for six months ended 29 Sept 2023
5th Oct 20231:01 pmRNSDirector Dealing
8th Sep 20234:25 pmRNSBoard Changes
10th Aug 20234:51 pmRNSHolding(s) in Company
18th Jul 20233:01 pmRNSResult of AGM
19th Jun 20233:03 pmRNSPosting of Annual Report & Notice of AGM
14th Jun 20237:00 amRNSFinal Results and notice of AGM
8th Jun 20231:08 pmRNSForthcoming Board Changes
28th Apr 20237:00 amRNSTrading Update
26th Apr 20237:00 amRNSAcquisition
22nd Mar 202310:59 amRNSBoard Changes
9th Nov 20227:00 amRNSInterim Results for six months ended 29 Sept 2022
5th Sep 202212:20 pmRNSTransaction in Own Shares
19th Jul 20223:18 pmRNSResult of AGM, GM and Trading Update
21st Jun 20223:19 pmRNSPosting of Annual Report and Circular
16th Jun 20227:00 amRNSAnnual Report, AGM Notice & Proposed Share Buyback
14th Feb 20227:00 amRNSDisposal of property
19th Nov 202111:24 amRNSDividend Timetable Correction
18th Nov 20217:00 amRNSChange of Nominated Adviser and Corporate Broker
18th Nov 20217:00 amRNSInterim Results for six months ended 29 Sept 2021
20th Jul 20213:37 pmRNSResults of Annual General Meeting
25th Jun 20213:30 pmRNSAnnual Report and Notice of AGM
18th Jun 20211:22 pmRNSFinal Results Year Ended 25 March 2021
7th Apr 20217:00 amRNSTrading Update
22nd Feb 202110:45 amRNSDisposal
23rd Nov 20207:00 amRNSHalf-year Report
15th Sep 20202:45 pmRNSResults of AGM
5th Aug 202012:00 pmRNSAnnual Report and Notice of AGM
31st Jul 20207:00 amRNSResults, Posting of Annual Report & Notice of AGM
11th Jun 20204:00 pmRNSSecond Interim Dividend & Update on Final Results
22nd Apr 20207:00 amRNSTrading Update
2nd Mar 20207:00 amRNSChange of Registered Office
10th Feb 20202:32 pmRNSDirector/PDMR Shareholding
14th Nov 20197:00 amRNSHalf-year Report
23rd Sep 20195:45 pmRNSAcquisition
19th Sep 20197:00 amRNSBoard and Functional Changes
16th Jul 20193:32 pmRNSResults of AGM
16th Jul 201911:30 amRNSAGM Trading Update
13th Jun 20197:00 amRNSResults, Posting of Annual Report & Notice of AGM
4th Apr 20197:00 amRNSTrading Update
1st Apr 20194:01 pmRNSDirector/PDMR Shareholding
20th Feb 20192:36 pmRNSDirector/PDMR Shareholding
6th Feb 20195:30 pmRNSChange of Auditor
15th Nov 20181:04 pmRNSHalf-year Report
28th Aug 201811:45 amRNSPossible Disposal
25th Jul 20187:00 amRNSAcquisition
10th Jul 201812:36 pmRNSResult of AGM
10th Jul 201811:30 amRNSAGM Trading Update

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