15th Sep 2005 07:00
Cardiff Property PLC15 September 2005 The Cardiff Property plc 15 September 2005 Disposal The Cardiff Property plc announces that Campmoss Property Company Ltd, its47.62% owned joint venture undertaking, has completed the freehold sale to aleading UK Pension Fund of its office building known as Globe House, ClivemontRoad, Maidenhead, Berkshire for a total cash consideration of £11.06m. The 30,000 square foot office building is let on an institutional lease for afifteen year term, including a tenant's break at 10 years, at a current rentalof £782,484 per annum. The site was originally acquired in 1999 and, following the grant of planningpermission, the original building was demolished and development of a new gradeA office building was completed in 2003 and let in the same year. Campmoss has reduced its level of borrowing and placed the balance on depositpending the acquisition of further property located in the Thames Valley. For further information: The Cardiff Property plc Richard Wollenberg 01784 437444Arbuthnot Securities Richard Dunn 020 7012 2000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Cardiff Property