Property Investment

12 Jan 2006 09:47

Highcroft Investments PLC12 January 2006 HIGHCROFT INVESTMENTS PLC Commercial Property Investment Having reviewed a number of opportunities, the Board is pleased to announce thaton 11 January 2006 a subsidiary of Highcroft Investments PLC, Rodenhurst EstatesLimited, purchased a property located in Staines funded by a combination of owncash resources and a loan drawn down from a bank facility made available byLloyds TSB plc to provide the debt element of any property purchases in themedium term. The property comprises three retail units, with office accommodation above, letto four separate tenants. In addition, there is planning permission, obtainedby the previous owner, to extend the property to include nine residential units.The directors will be pursuing this opportunity over the coming months. Thevalue of the net assets acquired is to be satisfied by a consideration of£2,825,000. The profits attributable to the transaction are expected to beapproximately £153,500 per year. 12 January 2006 This information is provided by RNS The company news service from the London Stock Exchange