Grainger Trust PLC
30 March 2001
Letter to Company Announcements Office
We have today completed the sale of 3 investment properties in Stafford, Huyton
and Rochdale for £9.5m and exchanged contracts on the sale of our largest
commercial investment, Winsford Shopping Centre, for £18m, a total of £27.5m in
transactions with the Winsford Partnership.
The properties were included in our 30th September 2000 financial statement at
an overall valuation of £26.6 m. The net rental income passing is £2.9m. The
sale proceeds will be used to reduce fixed rate debt, and to reinvest in group
activities.
We referred in our last accounts to our intention to accelerate the programme of
disposals from our commercial portfolio. Since the start of this financial year
we have also completed the sale of a further 11 properties for £10m, at prices
slightly in excess of year and valuations.
Contacts:
Stephen Dickinson Grainger Trust plc 0191 2611819
Andrew Cunningham Grainger Trust plc 0191 2611819
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.