Sale of Ground Rent Portfolios

RNS Number : 6283I

Redrow PLC

27 March 2015

 

Redrow plc

27 March 2015

SALE OF GROUND RENT PORTFOLIOS

Redrow plc advises that Redrow Homes Limited on 26^th March 2015 contracted with Adriatic Land 3 Limited for the sale of its ground rent portfolios for its developments at Kingston Riverside, Kingston Riverwalk, Amberley Waterfront and 205 Holland Park in London for a total cash consideration of £10.2m. 

Legal completion of the Kingston Riverside and Kingston Riverwalk portfolios, comprising £8.3m of the total completed simultaneously. Legal completion of the other two portfolios, comprising £1.9m, is expected to take place in the next financial year.

Enquiries:

Redrow plc

Barbara Richmond, Group Finance Director                  01244 527411

Tulchan Communications

Tom Buchanan/Victoria Huxster                                    020 7353 4200

 

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