Freehold property

RNS Number : 4876P

Christie Group PLC

10 October 2019

 

10 October 2019

Christie Group plc
("Christie Group" or the "Company")

Freehold property

Christie Group plc (CTG.L), the leading provider of Professional & Financial Services and Stock & Inventory Systems & Services to the hospitality, leisure, healthcare, medical, childcare & education and retail sectors, is pleased to announce that, as previously advised in the Interim Results to 30 June 2019, the realisation of the freehold value of Pinder House in Milton Keynes has now been completed.

The property has been sold by P.H. UK Limited to Milton Keynes Development Partnership LLP for cash consideration of £5.1m. The property will continue to be occupied by Christie Group businesses following the sale of the property, under the terms of an occupational lease.

Dan Prickett, Chief Operating Officer, commented: "I am pleased that the sale of the property, which was anticipated in our recent Interim Results, has now been completed. It realises the value of the property at an amount significantly above its net book value of £2.0m and in excess of the asking price and will allow us to redeploy these cash resources within our business. Our continued occupation of the building means we have avoided any disruption to our businesses which continue to operate from the Milton Keynes office."

Enquiries:

Christie Group plc

David Rugg

Chairman and Chief Executive                                                                                                   020 7227 0707

Dan Prickett

Chief Operating Officer                                                                                                               020 7227 0700

Shore Capital

Antonio Bossi / Sarah Mather

Nominated Advisor and Broker                                                                                                 020 7408 4090

Notes to Editors:

Christie Group plc, quoted on AIM, is a leading professional business services group with 43 offices across the UK, Europe and Canada, catering to its specialist markets in the hospitality, leisure, healthcare, medical, childcare & education and retail sectors.

Christie Group operates in two complementary business divisions: Professional & Financial Services (PFS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PFS - Christie & Co, Pinders, Christie Finance and Christie Insurance: SISS - Orridge, Venners and Vennersys.

Tracing its origins back to 1846, the Group has a long-established reputation for offering essential services to client companies in agency, valuation services, investment, consultancy, project management, multi-functional trading systems and online ticketing services, stock audit and inventory management. The diversity of these services provides a natural balance to the Group's core agency business.

For more information, please go to www.christiegroup.com.

 

END

 

 

MSCKBLBFKBFXFBV