19 May 2011 11:39
Issued by Citigate Dewe Rogerson, Birmingham
Date: Thursday, 19 May 2011
Immediate Release
The Character Group plc
designers, developers and international distributors of toys, games and gifts
Property Acquisition
The Character Group plc ('Company' or the 'Group') is pleased to announce that it has acquired the entire freehold property at 80 to 88 Coombe Road, New Malden, Surrey (the "Property") for £3.0m. The site includes the Group's head office at 86/88 Coombe Road, which the Company has leased since 1998.
The Board believes that the acquisition of the Property represents a good investment for the Group while providing the Company with the opportunity to expand its business without the disruption of moving premises.
The Property comprises a total of approximately 16,500 sq.ft. and currently produces a rental income from the space not currently utilised by the Group.
Following this transaction, the Group continues to have substantial headroom within its working capital facilities.
Enquiries: | ||
Richard King, Chairman | Russell Cook | |
Kiran Shah, Group Finance Director & Joint MD | Fiona Tooley | Carl Holmes |
The Character Group plc | Citigate Dewe Rogerson | Charles Stanley Securities |
Tel: +44 (0)208 329 3377 | Tel: +44 (0)121 362 4035 | (Nominated Adviser) |
www.thecharacter.com | Tel: +44 (0)207 149 6000 | |
Ticker: AIM: CCT |
Character (CCT)