18th Apr 2006 14:44
McKay Securities PLC18 April 2006 PRESS RELEASE McKay Sells Greenbelt Residential Development Site McKay Securities PLC is pleased to announce that it has exchanged contracts withHodson Developments Ltd. for the sale of 10.5 acres of land to the south ofChobham for £9.75m, which after costs, is substantially in excess of book valueas at 31st March 2005. The sale is conditional on vacant possession only andcompletion is to take place on 23rd June 2006. After a complex planning history involving two planning appeals, McKaynegotiated a detailed planning consent for 54 residential units on thissensitive greenbelt site. Commenting on the sale, Simon Perkins, ManagingDirector of McKay said "There was very keen interest in this site from housebuilders due to its location and the planning and design certainty delivered byour professional team, and I am very pleased with the price achieved. The saleproceeds will increase funds available for new acquisitions with development andrefurbishment potential in our core south-east market." McKay was represented by Drivers Jonas Contact: McKay Securities PLC -0118 950 2333Simon Perkins Drivers Jonas - 010 7896 8000Robert Smith This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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