Highcroft Investments PLC Property Acquisition (0743U)
27 March 2019 - 2:29AM
UK Regulatory
TIDMHCFT
RNS Number : 0743U
Highcroft Investments PLC
26 March 2019
Highcroft Investments PLC
26 March 2019
Property Acquisition
The Board is pleased to announce that Highcroft Investments PLC
has today completed on the purchase of the 984 year leasehold
interest of a maintenance, research and development facility
investment in Llantrisant, South Wales.
The property comprises a complex of three buildings providing a
mixture of office and workshop space totalling approximately
111,000 square feet, together with a development site, on a 20.67
acre site. It is occupied by British Airways Avionics Engineering
Limited on a lease expiring in March 2024 and produces an income of
GBP805,011 per annum. The net purchase price was GBP6,499,550 which
represents a net yield of 11.52%. The property was acquired from
Rockfleet Holdco 1 Sarl. The acquisition was made from existing
cash reserves and debt facilities.
Commenting on the acquisition chief executive Simon Gill said:
'This investment provides a strong income yield for our
shareholders plus the opportunity of further enhancement in the
future when considering the passing rent and capital value at just
GBP7.25 and less than GBP60 per square foot respectively. This is a
very accessible location which has attracted major occupiers such
as the Royal Mint, the Welsh Blood Service and the Royal Glamorgan
Hospital, which are on neighbouring sites, and we expect this area
to witness further growth.'
For further information contact:
Highcroft Investments PLC:
Simon Gill / Roberta Miles
01865 840023
Panmure Gordon (UK) Limited:
Fabien Holler
020 7886 2500
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.
END
ACQPGUMPWUPBGAQ
(END) Dow Jones Newswires
March 26, 2019 11:29 ET (15:29 GMT)
Highcroft Investments (LSE:HCFT)
Historical Stock Chart
From Apr 2024 to May 2024
Highcroft Investments (LSE:HCFT)
Historical Stock Chart
From May 2023 to May 2024