27th May 2016 09:55
LONDON (Alliance News) - Specialist Investment Properties PLC on Friday said its Secta Properties Ltd subsidiary has exchanged and completed on a property in Birmingham.
The property is to be leased to a care operator Midway Care Group Ltd on a 25-year inflation linked full repair and insuring lease, Specialist Investment Properties said in a statement, and will provide supported living accommodation to adults with learning disabilities.
Specialist Investment Properties said GBP245,000 was paid for the acquisition, with the company funding GBP92,000 of that amount and the remainder coming from funds drawn under its loan facility agreement with Heritage Square Ltd.
The property was purchased from two private individuals, Thomas Hopkins and Kathleen Hopkins.
Shares in Specialist Investment Properties were untraded Friday, having closed at 17.00 pence Thursday.
By Samuel Agini; [email protected]; @samuelagini
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