19th Sep 2014 08:46
LONDON (Alliance News) - Ashley House PLC has completed a forward funding agreement and has received funding to back its second extra care scheme.
The company, a health and community care property partner, said the Albion Street extra care unit in Grimsby has been sold on a forward funding basis to a fund managed by LaSalle Investment Management. Under the deal, Ashley House will continue to develop out the scheme.
The development is due to be completed in mid 2015 and the agreement will bring an immediate inflow in excess of GBP3 million into Ashley House, with further payments to be made during construction of the property.
Ashley House shares were down 0.9% in early trade to 9.33 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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