ITV PLC
20 September 2007
20th September 2007
ITV SELLS NEWBURY PROPERTY
ITV plc has sold the freehold investment of a high-tech manufacturing and office
building on Turnpike Road in Newbury, Berkshire to Jaymar Estates for
approximately £10.3 million, reflecting a net initial yield of circa 7.9%.
The 114,760 sq ft (10,662 sq m) premises is currently let to film effects and
editing firm Quantel at an annual rent of £865,000 on a lease expiring in
September 2020. Quantel is a former subsidiary of ITV plc; ITV retained the
freehold of the building when Quantel was sold.
Mark Stretton, property director of ITV, comments: 'The disposal of this
non-operational investment property is part of our programme to dispose of
peripheral assets to raise funds for investment in ITV's core activities, as
explained to the market in the strategic review on 12 September.'
ENDS.
For further information please contact:
ITV plc
0844 881 8000
Press enquiries:
Brigitte Trafford, Group Communications Director
Jim Godfrey, Director of Corporate Affairs
Analysts' enquiries:
James Tibbitts, Company Secretary
Georgina Blackburn, Head of Investor Relations
Tulchan Communications Group
0207 353 4200
Andrew Grant
Susanna Voyle
David Allchurch
This information is provided by RNS
The company news service from the London Stock Exchange
*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.