Acquisition

RNS Number : 6497V

Wynnstay Properties PLC

25 July 2018

 

WYNNSTAY PROPERTIES PLC

("the Company")

Acquisition

25^th July 2018

The Company is pleased to announce that it has exchanged contracts for the acquisition of a freehold multi-let trade counter estate comprising Units 10-15 Petersfield Business Park, Petersfield from Friars House Investments Limited for £3.83 million. The total acquisition cost of £4.1 million, which includes stamp duty and other acquisition costs, will be funded from existing cash resources and debt facilities.  The estate is fully let and produces a current rent of £203,592 per annum.

Commenting on this transaction Philip Collins, Chairman of Wynnstay, said:

"We are pleased to have secured the Petersfield property for the Wynnstay portfolio in a keen bidding process.  It provides a good fit with our other assets in Hampshire, Surrey and Sussex, in terms of size, lease profile and tenant mix.  We hope that there may be possible opportunities to build on our presence in Petersfield in due course although this will take time and effort in the current market conditions."

For further information please contact:

Wynnstay Properties Plc

Toby Parker, Finance Director

020 7554 8766

Panmure Gordon (UK) Limited

Andrew Potts

020 7886 2500

 

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