4th Feb 2014 10:27
LONDON (Alliance News) - First Property Group PLC Tuesday said it has exchanged contracts for the sale of its vacant office building in Bracknell, Berkshire, for GBP2.1 million to an unnamed UK housing association.
The property fund management group said the sale price is expected to result in the group receiving a contribution of GBP770,000.
Completion of the sale is due to take place after certain works to the building are undertaken and in any event no later than July 31, First Property said.
The cost of these works will be met by the buyer, which has indemnified First Property for this.
First Property was trading at 24.15 pence Tuesday morning, down 0.35 pence or 1.4%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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