Sale of Property

RNS Number : 6810C

Summit Properties Limited

19 June 2019

 

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

Summit Properties Limited

(the "Company")

Sale of Property for €225 million

19 June 2019

Summit Properties Limited, the German commercial property investment company, is pleased to announce that its subsidiary has signed a binding agreement for the disposal of a German office building for a consideration of €225.0 million, 7.9% above its €208.6 million valuation as at 31 December 2018.

The property's annual rental income as of 31 December 2018 totaled €4.62 million p.a., reflecting a rental yield of 2.1%.

Completion of the transaction is expected at the end of 2019.

For further information please contact:

Summit Properties Limited	Tel: [phone]
Zohar Levy - Managing Director
Itay Barlev (Braun) - Finance Director
Non-Executive Chairman	Tel: [phone]
Harry Hyman
Carey, Company Secretary	Tel: [phone]
Chris Le Page / Nikolett Mezei
Liberum Capital Limited, Nominated Adviser and Joint Broker	Tel: [phone]
Chris Clarke / Gillian Martin / Owen Matthews
Cenkos Securities, Joint Broker	Tel: [phone]
Mark Connelly
Russell Kerr / Selwyn Jones (Broking)

 

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