RNS Number : 7405P
Panther Securities PLC
21 October 2021
 

Panther Securities PLC

(the "Company" or the "Group")

Sale of Units 1-4, Fourth Way, Wembley

The Company is pleased to announce that it has exchanged contracts to sell its Freehold interest in Units 1-4, Fourth Way, Wembley for a total consideration of £8,700,000 in cash.

The property comprises four industrial units in Wembley totalling 28,000 sq ft with a passing rent of circa £250,000 pa (Estimated Rental Value: £490,000 pa).

The purchase price represents an increase on the current book value of £8,200,000, revalued following the independent valuation by Carter Jonas (on behalf of the Group's lenders) as at 31 December 2020.

The Group has exchanged contracts with a wholly owned subsidiary of Infrared Capital Partners, a leading global investment manager focused on infrastructure and real estate with £12 billion of equity under management.

It is anticipated that completion is to occur in November. Further announcements in relation to Completion will be made in due course.

It is anticipated that the funds received by the Company following completion will be used to repay its revolving loans (that can be redrawn).

For further information:

Panther Securities plc:                                                                               Tel: 01707 667 300

Andrew Perloff/ Simon Peters

Allenby Capital Limited (Nomad and Joint Broker)                                 Tel: 020 3328 5656

David Worlidge/ Alex Brearley

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DISDGBDGLXDDGBG