Disposal

25 Mar 2009 07:00



25 March 2009

TOWN CENTRE SECURITIES PLC

DISPOSALS

Town Centre Securities PLC, the Leeds based property investment and development company, announces that it has exchanged contracts for the sale of two properties in Leeds to Bramall Properties Limited for £13.75million.

The properties, in Albion Place, which is let to WH Smith and Hospital Medical Group, and Albion Street, let to Waterstones, have a passing rent of £1.14million. 

The proceeds will be paid in cash and used to pay down group debt.

Completion will take place on 27th May 2009.

- ENDS-

For further information, please contact:

Town Centre Securities PLC www.tcs-plc.com

Edward Ziff, Chairman and Chief Executive 0113 222 1234

Bob Bigley, Finance Director

Smithfield

Reg Hoare 0207 360 4900