3rd Oct 2013 11:31
Eastern European Property Fund Limited
("EEP" or the "Company")
Sale of Property
3 October 2013
On 2 October 2013, EEP completed the disposal of Off Pera Bar (Canova building, Gonul Sokak, Asmalimescit, Beyoglu, Istanbul) for a cash consideration of USD 551,000.
The Off Pera Bar was sold fully occupied. The sale of the property for USD 551,000 (approximately GBP 340,000) has crystallised a gain (before transaction costs) of approximately USD 262,000 (GBP 162,000).
The Company does not have any brought forward losses remaining to offset the corporate income tax of approximately USD 53,000 arising on the gain.
The sale price is 11% lower than the carrying value of the property in the 30 June 2013 half-yearly report and financial statements.
For further information please visit www.eepfl.com or contact:
| |
Tom Fyson Liberum Capital Limited Tel: +44 203 100 2000 | Keiran Gallagher Pera Pera Tel: +90 212 252 6048 |
Bob Locker CNC Property Fund Management Limited Tel: +44 1784 424 740 | |
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