Ace Liberty and Stone Plc
(''Ace'' or "the Company'')
Property transaction
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 completed the purchase of an office property at Princes Court, York Road, Leicester at a price of £4,385,000. The entire property is let to the Secretary of State for the Environment and occupied by the Leicester Crown Prosecution Service at an annual rent of £290,000.
This acquisition is the first to be financed by Coutts & Co for the company. The advance of £2,795,000 is part of a facility agreed for the purchase of three properties.
Dr Tony Ghorayeb, Chairman, commented "The Company is committed to providing good returns to shareholders through dividend payments and increases in the share price. Acquisitions of this type underpin that plan".
The Directors accept responsibility for this announcement.
- 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, 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
