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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Spec Inves Prop | LSE:SIPP | London | Ordinary Share | IM00BZ97VJ22 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 16.00 | 15.00 | 17.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMSIPP
RNS Number : 9754J
Specialist Investment PropertiesPLC
15 September 2016
15 September 2016
Specialist Investment Properties plc
(the "Company" or "SIPP")
Acquisition of Property
The Company is pleased to announce a further property acquisition in Fazeley, Staffordshire, comprising 12 one bedroom flats providing supported living accommodation for adults with learning difficulties (the "Property"). This will be the Company's third acquisition in the supported living sector and the eighth acquisition overall since it began implementing its new investment policy in March 2016.
SL Boathouse Limited, a subsidiary of SIPP, has exchanged on the Property which is to be leased to Inclusion Housing Community Interest Company ("Inclusion Housing") on a 25-year inflation linked, full repair and insuring lease. Completion is due to occur on or around 26 September 2016.
Inclusion Housing is an established housing association responsible for providing accommodation for adults with learning difficulties. Midway Care Group will be the care operator for the Property and will enter into an agreement with Inclusion Housing to underwrite any rental voids in the first five years of the lease.
The consideration for the acquisition is GBP1,250,000 with SIPP funding GBP521,000 and the balance coming from funds drawn under its loan facility agreement with Heritage Square Limited. The gross initial rent per annum will be GBP115,000. The Property is being purchased from Midcroft Care Limited, of which 50 per cent. is owned by Midway Care Group.
For further information:
Specialist Investment Properties plc
John Le Poidevin / Lynn Bruce
+44 (0) 1481 724222
Puma Investment Management Limited (Investment Adviser to the Company)
David Kaye
+44 (0) 20 7408 4050
Allenby Capital Limited (Nomad and Broker to the Company)
David Worlidge / James Thomas / Liz Kirchner
+44 (0) 20 3328 5656
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
September 15, 2016 09:36 ET (13:36 GMT)
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