Part Disposal of Aker Village, Aberdeen

RNS Number : 7979D

Conygar Investment Company PLC(The)

02 April 2014

 

For immediate release

2 April 2014

THE CONYGAR INVESTMENT COMPANY PLC

PART DISPOSAL OF AKER VILLAGE, ABERDEEN

The Conygar Investment Company PLC ("Conygar"), the property investment and development group, announces that it has completed on the sale of Site 1, Aker Village, Aberdeen for a consideration of £8.0 million, a surplus of £540,000 over the September 2013 valuation and a 6.1% uplift after deducting costs of sale.

The site comprises a 64,500 sq ft detached warehouse and 11,500 sq ft two storey long leasehold office building let to Aker Business Services Limited at a rent of £591,212 per annum exclusive.

Robert Ware, Chief Executive of Conygar commented:

"We have a significant commitment to both Aberdeen as a location and Aker as a tenant.  We are pleased to be able to take advantage of an improving market to dispose of  part of our holding, reducing our exposure to both and crystallising a significant surplus over our book value."

Enquiries:

The Conygar Investment Company PLC

Robert Ware/Steven Vaughan: 020 7258 8670

Liberum Capital Limited (Nominated Adviser and Broker)

Chris Bowman/Richard Bootle: 020 3100 2222

Temple Bar Advisory (Public Relations)

Alex Child-Villiers: 07795 425580

 

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