22nd Feb 2021 12:05
Wynnstay Group PLC - London-based property investor - Completes sale of Oakcroft Business Centre in Chessington, England to Campus Overseas Corp for a cash consideration of GBP3.2 million. Notes the property comprises three industrial units, with one let to Thales Property Ltd at a rent of GBP70,300 per annum and the other two vacant. Says the funds received will be used to reduce short-term borrowings and fund planned developments to expand the portfolio. Adds the sale will enable Wynnstay to release GBP122,000 being held in its accounts for repairs to the property before re-letting.
"This is an excellent outcome for Wynnstay and its shareholders which, other things being equal, will have a significant positive impact on the financial results, including profits and net asset value, for the full year ending March 25, 2021," says Chair Philip Collins.
Current stock price: 585.00 pence
Year-to-date change: up 3.5%
By Zoe Wickens; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Wynnstay Props.