DJ Ace Liberty & Stone PLC Statement re property transactions
RNS Number : 1381T
Ace Liberty & Stone PLC
02 July 2018
2 July 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 transactions.
The Company has completed the purchase of office properties at Tweedale House, Union Street, Oldham and at Brocol House, King Street, Wigan at a combined price of GBP6,400,000. The rents are, respectively GBP245,155 p.a. and GBP352,294 p.a. Both properties are occupied by the Secretary of State for the Department for Communities and Local Government.
This acquisition has also been financed by Coutts & Co with an advance of GBP4,160,00.
Ivan Minter, Chief Financial Officer, commented "These purchases mark a significant step in our development completing our investment of the funds raised in 2017 and early 2018 from the issue of Convertible Loan Notes".
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
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(END) Dow Jones Newswires
July 02, 2018 02:00 ET (06:00 GMT)