Disposal of property asset

RNS Number : 5346K

Unbound Group PLC

06 May 2022

 

Unbound Group plc 

Disposal of property asset

6 May 2022

Unbound Group plc ("Unbound" or the "Company"), the online multi brand retail platform enhancing the active lifestyles of the over 55 demographic, is pleased to announce that it has disposed of a leasehold property investment near Manchester (the "Property") to the Coal Pension Properties Limited for a gross cash consideration £1.75 million. The Property had a carrying value in the Company's annual audited accounts to 31 January 2022 of £1.5m.

The Property is leased to Fujitsu Services Limited for an annual rent of £300,000. The Factory was a legacy investment by Electra Private Equity plc and is not used for the operations of Unbound or any of its subsidiaries.

Unbound will deploy the proceeds into continued development of the Unbound platform and for general working capital purposes.

ENQUIRIES

Unbound Group plc

Dan Lampard

020 3874 8300

Stifel Nicolaus Europe Limited (Nomad and corporate broker)

Ash Burman, Nick Adams, Stewart Wallace, Francis North

020 7710 7600

Vico Partners

Sofia Newitt

020 3957 5045

NOTES TO EDITORS

Unbound Group plc

Unbound Group plc is the parent company for a group selling a range of brands focused on the 55+ demographic. Unbound Group will build on the solid foundation of Hotter Shoes, its current main business, to grow value through its curated, multi-brand retail platform supporting the active lifestyles of the 55+ demographic with a range of products and services. Unbound's expanded offering beyond footwear will feature a broad range of active lifestyle products and services, with third-party complementary brands featuring alongside new Unbound Group brands, as well as Hotter.

 Hotter Shoes

Hotter Shoes, an Unbound Group plc company, is one of the UK's leading specialist footwear brands, selling over 1.4 million pairs of shoes per year. Hotter's footwear has an uncompromising focus on 'customised comfort' and perfect fit through the use of its differentiating technology, including its e-commerce platform, 3D foot scanner and augmented reality app which enables the consumer to try products virtually from home. Hotter has been transformed from a retail to a digitally led, omni-channel business over the past 3 years, selling its footwear to over 4 million customers via online, its direct mail order channel and its targeted 17 Technology Centres and 7 garden centre concessions in the UK. With its clearly defined, large and growing target demographic, Hotter now reaches 29% of the female population in the UK over the age of 55. Digital partnerships have recently been established with several online retailers including Next, John Lewis, The Very Group and M&S.

 

END

 

 

DISFLFSDEIIEIIF