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RNS Number : 2661D

Warner Estate Holdings PLC

14 May 2012

Warner Estate Holdings PLC

("Warner Estate" or "the Group")

SALE OF 60 NEW BROAD STREET, LONDON EC2

Warner Estate announces that, on 11 May 2012, it exchanged contracts for the sale of 60 New Broad Street, London EC2 for a cash consideration of GBP28.624m to RREEF Spezial Invest, who were acting on behalf of RVK Europa. The sale is due to complete on 18 May 2012. The property had a book value of GBP28.9m as at 30 September 2011 and contributed GBP0.5m of net annual rent in the year ended 31 March 2011. The net proceeds from the sale of GBP27.844m will be utilised to reduce the Group debt.

-ends-

Date: 14 May 2012

For further information contact:

 
 Warner Estate Holdings PLC 
 Philip Warner, Chairman 
 Mark Keogh, Group Managing Director 
 Robert Game, Group Managing Director, 
  Property 
 Tel: 020 7907 5100 
 Web: www.warnerestate.co.uk 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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