DJ Ace Liberty & Stone PLC Statement re property transaction
RNS Number : 0835D
Ace Liberty & Stone PLC
26 January 2018
26 January 2018
Ace Liberty and Stone Plc
("Ace" or "the Company")
The directors of Ace Liberty and Stone Plc (NEX: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, are delighted to announce the following property transaction.
The Company has exchanged contracts for completion in February 2018 for the purchase of Worth Bridge Road, Keighley at a price of GBP4,750,000. The entire property is let to Kone plc at an annual rent of GBP383,000.
Ismail Ghandour, Chief Executive, commented "This acquisition shows we are continuing to find acquisitions which meet our criteria of sound covenant and a high level of assured income".
The Directors accept responsibility for this announcement.
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For further information, please contact:
Ace Liberty & Stone Plc Ivan Minter, Financial Director Tel: +44 (0) 20 7201 8340 http://acelibertyandstone.com Alfred Henry Corporate Finance Ltd, NEX Exchange Corporate Adviser Jon Isaacs / Nick Michaels Tel: +44 (0) 20 7251 3762 www.alfredhenry.com
Notes to Editors
Ace Liberty & Stone Plc is a London-based property investment company with a diverse portfolio of properties located across the UK, currently including Leeds, Sunderland, Plymouth, Dudley, Gateshead, Barnstaple, and London. The Company locates commercial and residential properties which have the potential for an increase in value through creative asset management activity, such as change of tenancy, change of use or new lease negotiation. Ace has maintained a track record of generating strong profits at disposal of properties and achieving better-than average returns on capital. With strong support from shareholders and mortgage lenders, the Company is currently seeking further investment opportunities in the UK to create value for existing and new investors.
Ace is run by a board with extensive property experience, an excellent network of contacts and relevant professional qualifications. This sector expertise has allowed the Board to identify opportunities and act promptly to secure investments.
For more information on the Company please visit www.acelibertyandstone.com
This information is provided by RNS
The company news service from the London Stock Exchange
(END) Dow Jones Newswires
January 26, 2018 08:08 ET (13:08 GMT)