Electronic Data Processing PLC Disposal of Surplus Freehold Property (3762M)
12 October 2016 - 10:57PM
UK Regulatory
TIDMEDP
RNS Number : 3762M
Electronic Data Processing PLC
12 October 2016
12 October 2016
Electronic Data Processing PLC ("EDP")
Disposal of Surplus Freehold Property
EDP announces that it has exchanged contracts to dispose of its
surplus freehold property in Milton Keynes to The Church of
Pentecost - UK for a cash consideration of GBP1.2 million. Costs
associated with the disposal are estimated to be GBP21,000. The
property had a net book value of GBP1.18m at 30 September 2016. The
net sales proceeds will be added to existing cash resources.
The property has been leased to a charitable organisation on a
short-term basis and, whilst this arrangement has not generated
significant rental income, it has mitigated business rates of
GBP53,000 per annum. In addition to securing these savings on a
permanent basis, the disposal will result in additional cash
savings of approximately GBP20,000 per annum.
-ENDS-
Enquiries:
Julian Wassell James Storey Toby Mountford
Chief Executive Finance Director Citigate Dewe
Rogerson
020 7638 9571
0114 262 2010 0114 262 2010 / 07710 356611
This information is provided by RNS
The company news service from the London Stock Exchange
END
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