5th Jul 2022 11:13
Pressure Technologies PLC - Sheffield, England-based engineering firm - Completes the sale and leaseback of its freehold property occupied by Roota Engineering Ltd in Rotherham, England. Sale proceeds total GBP1.7 million. Company holds a 15-year lease on the property with an initial annual rent of GBP90,000, with a tenant-only break option at the end of years five and ten. Property has a net book value of GBP750,000 as of March 31. Proceeds from the sale will be used to reduce its banking facilities, the company adds.
Current stock price: 63.95 pence
12-month change: down 33%
By Heather Rydings; [email protected]
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