20th Sep 2007 09:32
ITV PLC20 September 2007 20th September 2007 ITV SELLS NEWBURY PROPERTY ITV plc has sold the freehold investment of a high-tech manufacturing and officebuilding on Turnpike Road in Newbury, Berkshire to Jaymar Estates forapproximately £10.3 million, reflecting a net initial yield of circa 7.9%. The 114,760 sq ft (10,662 sq m) premises is currently let to film effects andediting firm Quantel at an annual rent of £865,000 on a lease expiring inSeptember 2020. Quantel is a former subsidiary of ITV plc; ITV retained thefreehold of the building when Quantel was sold. Mark Stretton, property director of ITV, comments: "The disposal of thisnon-operational investment property is part of our programme to dispose ofperipheral assets to raise funds for investment in ITV's core activities, asexplained to the market in the strategic review on 12 September." ENDS. For further information please contact:ITV plc0844 881 8000 Press enquiries:Brigitte Trafford, Group Communications DirectorJim Godfrey, Director of Corporate Affairs Analysts' enquiries:James Tibbitts, Company SecretaryGeorgina Blackburn, Head of Investor Relations Tulchan Communications Group0207 353 4200Andrew GrantSusanna VoyleDavid Allchurch This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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