Ediston Property Inv Comp PLC Sale of leisure asset, Mecca Bingo, Telford (2574R)
05 Julio 2022 - 1:00AM
UK Regulatory
TIDMEPIC
RNS Number : 2574R
Ediston Property Inv Comp PLC
05 July 2022
5 July 2022
Ediston Property Investment Company plc (the 'Company')
(LEI: 213800JRL87EGX9TUI28)
Sale of leisure asset, Mecca Bingo, Southwater Square,
Telford
Ediston Property Investment Company plc (LSE: EPIC) announces
that it has completed the sale of its leisure asset at Southwater
Square, Telford, which is let to Rank Group Gaming Division Limited
on a lease which expires on 28 September 2022. The sale price of
GBP5,000,000 is 67% above the most recent valuation of the property
(31 March 2022). The property was acquired by an
owner-occupier.
The sale is in line with the Company's revised investment
strategy, announced in Q3 2021, to sell its office and leisure
assets and to reinvest the proceeds in retail warehouses.
Southwater Square was the last non-retail warehouse property in the
portfolio.
The impact of the sale will be included in the next NAV
announcement, for the quarter ended 30 June 2022, which will be
made in the next few weeks.
End
Enquiries
Will Barnett * Investec Bank plc 0207 597 5873
Calum Bruce * Ediston Properties Limited 0131 225 5599
Ruth Wright * JTC 0203 893 1011
Ben Robinson * Kaso Legg Communications 0203 995 6672
Stephanie
Ross * Kaso Legg Communications 0203 995 6676
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