TIDMEPIC

RNS Number : 5053T

Ediston Property Inv Comp PLC

25 November 2021

25 November 2021

Ediston Property Investment Company plc ('the Company')

(LEI: 213800JRL87EGX9TUI28)

Disposal of Midland Bridge House, Bath

Ediston Property Investment Company plc (LSE: EPIC) announces that it has sold its office building, Midland Bridge House, Bath, for GBP5.925m. The net initial yield is 5.7%, which is in line with the 30 September 2021 valuation. The property extends to c. 18,500 sq. ft. and is let to Royds Withy King until March 2029.

The sale is in line with the Company's new strategy to sell its office portfolio and to reinvest the proceeds in retail warehouses.

Calum Bruce, Investment Manager, commented:

"This is the first office sale since we announced our new strategy in Q3. Progress is being made with our other office sales and we are actively looking at reinvestment opportunities. We want to acquire retail warehouse assets which are more suited to our intensive style of asset management."

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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November 25, 2021 01:59 ET (06:59 GMT)

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