13th Aug 2007 12:43
13 August, 2007 Panther Securities PLC ("Panther" or "the Company") Acquisition of investment properties
The Board of Panther Securities Plc announces that it has exchanged contracts for the purchase of two freehold factories occupied by a subsidiary company of Elektron Plc for a cash consideration of ‚£2,430,000 (including stamp duty) and has entered in leaseback arrangements at a total annual rental of ‚£215,000, following a one year rent free period.
Completion has already taken place on one of the properties, with the other completing once certain registration documents have been processed by The Land Registry.
The properties are situated at Torquay, Devon and have a total net lettable area of 68,163 square feet, on land of approximately 3.5 acres.
The purchase of these properties is being financed from existing cash balances.
For further information:
John Doyle, Panther Securities Plc: 020 7278 8011
Simon Peters, Panther Securities Plc: 020 7278 8011
PANTHER SECURITIES PLCRelated Shares:
Panther Securities