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Equable Properties (EQU)

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Thursday 04 October, 2007

Equable Properties


Equable Properties PLC
04 October 2007

For Immediate Release

4 October 2007

            Equable Properties plc ('Equable' or 'the Company')

         Acquisition of property at 270 Manchester Street, Oldham

The Board of Equable is pleased to announce the acquisition from Tramp
Properties Limited, a company whose share capital is owned as to 19% by Desmond
Bloom's family interests, of a long leasehold property comprising a restaurant
at 270 Manchester Street, Oldham, producing a net rental income of £41,725 per

The property is let on a full repairing and insuring lease subject to five
yearly upward only rent reviews to Mr. J. Tate and Mr. A. Garlick. The lease
expires in 2020. The rent is due for review in 2009.

The purchase price is £675,000, of which £520,000 is payable in cash and the
balance of £155,000 by the issue of 5,000,000 new Ordinary Shares of 1p each at
3.1p per share. The cash consideration has been partly financed by a mortgage of
£460,000 from the Nationwide Building Society and partly from the Company's own
cash resources.

Application has been made for the consideration shares to be admitted to trading
on AIM and it is expected that trading in such shares on AIM will commence on 10
October 2007.

For further information:

Desmond Bloom
Equable Properties plc                                07793 125 625

Nominated Adviser
Robert Lo/Marc Cramsie
Nabarro Wells & Co. Limited                           020 7710 7400

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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