Exchange of contracts to sell final office asset

RNS Number : 4673C

Ediston Property Inv Comp PLC

22 February 2022

 

22 February 2022

Ediston Property Investment Company plc

(LEI: 213800JRL87EGX9TUI28)

Exchange of contracts to sell final office asset

Ediston Property Investment Company plc (LSE: EPIC) announces that, in line with its revised strategy to sell its offices and reinvest the proceeds in retail warehouses, it has exchanged unconditional contracts to sell its final office asset, St Philips Point, Birmingham. Completion is scheduled for 25 March 2022.

The headline price will be 3.9% below the 31 December 2021 property valuation, but above cost for the asset. The impact of the sale will be accounted for in conjunction with the overall movement in the portfolio value in the next NAV announcement, for the quarter ending 31 March 2022.

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

 

END

 

 

MSCFLFVEFTIFFIF