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 £5,000,000 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
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Enquiries |
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Will Barnett |
- Investec Bank plc |
0207 597 5873 |
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Calum Bruce |
- Ediston Properties Limited |
0131 225 5599 |
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Ruth Wright |
- JTC |
0203 893 1011 |
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Ben Robinson |
- Kaso Legg Communications |
0203 995 6672 |
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Stephanie Ross |
- Kaso Legg Communications |
0203 995 6676 |
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