Ediston Property Inv Comp PLC Disposal of Midland Bridge House, Bath (5053T)
25 Noviembre 2021 - 12:59AM
UK Regulatory
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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