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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 : 6737K
Specialist Investment PropertiesPLC
23 September 2016
23 September 2016
Specialist Investment Properties plc
(the "Company" or "SIPP")
Acquisition of Property
The Company is pleased to announce the acquisition of a property in Bournemouth.
Secta Properties Limited ("Secta") has exchanged and completed on the acquisition of a property in Bournemouth. Secta is a subsidiary of SIPP via a joint venture agreement as detailed in the Company's Circular dated 15 January 2016. The property has been leased to Beaufort Care Group Limited ("Beaufort Care Group") on a 25-year inflation linked full repair and insuring lease. Beaufort Care Group was established in 2003 and will operate the property as a children's home. The first year's rent under the terms of the lease is approximately GBP47,600 per annum.
The consideration for the acquisition of the property was GBP490,000, with SIPP funding GBP161,000 and the balance coming from funds drawn under its loan facility agreement with Heritage Square Limited. The property was purchased from Jennifer Kendall who is the founder and sole shareholder of Beaufort 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 23, 2016 05:00 ET (09:00 GMT)
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