10th Oct 2019 14:22
(Alliance News) - Christie Group PLC on Thursday said it has completed the sale of its office in Milton Keynes which it will still operate from but on an occupational lease.
The company, which provides business buying and selling services, said it sold the freehold value of Pinder House in the Buckinghamshire town for GBP5.1 million to PH UK Ltd.
Christie, which in September announced its intention to sell the property, said the GBP5.1 million sale price was more than its asking price.
"The firm will still occupy the office which means Christie avoids being disrupted by the disposal," Operating Chief Dan Prickett said.
Prickett added: "I am pleased that the sale of the property, which was anticipated in our recent interim results, has now been completed. It realises the value of the property at an amount significantly above its net book value of GBP2.0 million and in excess of the asking price and will allow us to redeploy these cash resources within our business.
"Our continued occupation of the building means we have avoided any disruption to our businesses which continue to operate from the Milton Keynes office."
Shares in Christie were 0.8% lower at 93.00 pence each in London on Thursday afternoon.
By Eric Cunha; [email protected]
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