10 November 2014
Ace Liberty & Stone Plc
(''Ace '' or "the Company'')
Ace Liberty & Stone Plc (ISDX: ASLP), the specialist real estate company, capitalising on commercial property investment opportunities across the UK, today announces a further addition to the Company's portfolio with the purchase of King House, Luton for the sum of GBP 2,750,000. The property is located in Luton town centre, in close proximity to the University of Bedfordshire and Luton Airport. It consists of 31,185 square feet of office space over seven floors; it is fully let to the First Secretary of State and has been occupied by HM Revenue & Customs since 1985.
The purchase has been part funded by a loan of GBP 1,650,000 advanced by Santander Corporate and Commercial Bank.
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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 Sheffield, Leeds, Doncaster and Stoke. 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 price increases have started with the smaller properties, and are spreading towards 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/