13th Apr 2016 12:56
LONDON (Alliance News) - Specialist Investment Properties PLC Wednesday said it has acquired its third property since launching its investment policy by purchasing a building that will be leased as a children's home for GBP349,000.
Through its subsidiary, Secta Properties Ltd, the company has exchanged on a property in Birmingham which is to be leased to Meadows Care Ltd as a children's home on a 25-year inflation linked FRI lease.
Specialist Investment is purchasing the property from a private individual named Abdul Wafi, and it is set to be completed before the end of play on Friday.
Of the GBP349,000 consideration, GBP207,000 came from funds held by the subsidiary whilst the remainder came from funds drawn from its facility agreement.
Specialist Investment shares were untraded on Wednesday, last trading at 18.70 pence per share.
By Joshua Warner; [email protected]; @JoshAlliance
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