13th Jun 2013 07:00
Eastern European Property Fund Limited
("EEP" or the "Company")
Sale of Pera Residence
13 June 2013
On 12 June 2013, EEP completed the disposal of the Taka Building (Asmalimescit Street, Beyoglu, Istanbul), for a cash consideration of USD1.25 million.
The Taka Building, which comprises 160m2 of retail space, was sold fully occupied. The sale of the property for USD1.25 million (approximately GBP0.80 million) has crystallised a gain (before transaction costs) of approximately USD0.78 million (GBP0.50 million).
The Company does not have any brought forward losses remaining to offset the corporate income tax of approximately USD0.16 million arising on the gain.
The sale price is approximately 18% higher than the carrying value of the property in the 31 December 2012 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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