15th Dec 2015 12:18
LONDON (Alliance News) - Safeland PLC on Tuesday said its Cloverdale Estates Ltd subsidiary has exchanged contracts to purchase a substantial detached freehold house in a prime location in Hampstead Garden Suburb in north London for GBP6.2 million in cash.
The acquisition will be funded with a combination of debt and cash.
"The company plans a comprehensive refurbishment of the property, which is expected to take approximately nine months to complete, prior to seeking to onward sell the property," Safeland said.
Completion is expected on March 30, 2016.
Shares in Safeland were untraded on Tuesday. The stock last closed at 60.00 pence.
By Samuel Agini; [email protected]; @samuelagini
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