Extension to Completion Date

RNS Number : 6177J

UK Commercial Property Trust Ltd

01 April 2010

 

UK COMMERCIAL PROPERTY TRUST LIMITED

RIS ANNOUNCEMENT

1 April 2010

EXTENSION TO COMPLETION DATE FOR ACQUISITION OF THE HERITABLE PROPERTY AT 122/132 ARGYLE STREET, GLASGOW

On 6 October 2009, UK Commercial Property Trust Limited ("UKCPT") announced that a conditional agreement had been entered into to acquire the heritable property at 122/132 Argyle Street, Glasgow (the "Glasgow Property"). The acquisition of the Glasgow Property was conditional upon, inter alia, the entering into of a 15 year lease in relation to the basement, ground and first floors of that property with HSBC Bank plc (the "Completion Conditions"). It was also agreed that the agreement to acquire the Glasgow Property could be rescinded by either party to the agreement in the event that the Completion Conditions were not satisfied by 31 March 2010.  UKCPT has now entered into an agreement with the seller of the Glasgow Property to extend the longstop date for the satisfaction of the Completion Conditions from 31 March 2010 to 30 June 2010.   

All enquiries:

Robert Boag, Ignis Investment Services Limited
Tel: [phone]

 

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