Ace Liberty & Stone - Sale of Hume House, Leeds London Stock Exchange
RNS Number : 9465M
Ace Liberty & Stone PLC
26 January 2016
 

 

 

 

Press Release

26 January 2016

 

Ace Liberty & Stone Plc

 

('' Ace'' or the ''Company'')

 

 Sale of Hume House, Leeds

 

Ace Liberty & Stone Plc (ISDX: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, is pleased to announce that it has exchanged sales contracts for Hume House, Leeds, for £3.55 million. The sales contract is unconditional and the transaction is expected to be completed in December 2016.

 

Ace will continue to receive rental income at the annual rate of £188,000 from the Department of Work and Pensions, the current occupier of the property, until completion of the sale.

 

The property was purchased by Ace in March 2014 for a total sum of £1.67 million.  The transaction represents a profit of £1.88 million

 

Ismail Ghandour, Chief Executive of Ace Liberty & Stone, commented: "The Board is delighted with the successful sale of Hume House.  This transaction will provide significant cash resources for Ace to purchase additional properties with high growth potential.  The Board is confident that the Company will continue its successful track record in identifying profitable opportunities and develop them to their full potential."  

 

- 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:

Abchurch Communications

 

Quincy Allan / Canace Wong

Tel: +44 (0) 20 7398 7700

quincy.allan@abchurch-group.com

www.abchurch-group.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, Doncaster, Sunderland, Dudley and Gateshead Tyne and Wear. The Company locates commercial 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.

 

The London property market has seen considerable recovery since the 2008 financial crisis. However, in some UK regions smaller properties have begun to appreciate in value, and this trend is starting to appear amongst larger properties.

 

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: http://acelibertyandstone.com/ 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DISLFFLVLTIEFIR ]]>