|
Press Release
|
22 November 2016
|
Ace Liberty and Stone Plc
(''Ace'' or "the Company'')
Draw down of £13.75 million Loan Facility from Lloyds Bank
Ace Liberty and Stone Plc (ISDX: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, is pleased to announce that the Company has drawn down a secured loan of £13.75 million. The facility is provided by Lloyds Bank Commercial Banking (or "Lloyds Bank") and has been used to complete the purchase of 1-5 Upper Market Square, Hanley (as announced on 5th October 2016), as well as to refinance properties owned at Marsh Mills, Plymouth; Shildon House, Gateshead; Bridge House, Dudley; Fawcett House, Sunderland and Hillcrest House, Leeds.
Ismail Ghandour, Chief Executive of Ace Liberty & Stone, said: "The support of a major UK institution such as Lloyds Bank is real endorsement of Ace's portfolio strength and business model. This new facility brings additional access to funds and will help us achieve our plans for more acquisitions and expanding our portfolio over the coming months."
- Ends -
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, ISDX Corporate Adviser
|
|
|
Jon Isaacs / Nick Michaels
|
Tel: +44 (0) 20 7251 3762
|
|
|
www.alfredhenry.com
|
|
Hybridan LLP, Corporate Broker
|
|
|
Claire Noyce / Darshan Patel
|
Tel: +44 (0)203 764 2341
|
|
|
www.hybridan.com
|
Media enquiries:
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 Tyne and Wear, 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
