Ace Liberty & Stone - Statement re property transactions
RNS Number : 2180A
Ace Liberty & Stone PLC
28 September 2020
 

28 September 2020

 

ACE LIBERTY AND STONE PLC

(''Ace'' or "the Company'')

 

PROPERTY TRANSACTIONS

 

 

Ace Liberty and Stone Plc (AQSE: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, is pleased to update shareholders on the current positive state of the Company's business.

 

The Company has completed the freehold acquisition of 16 - 17 Westborough, Scarborough at a value of £1,430,000 with the benefit of a secured loan from Coutts & Co of £625,000. The tenant of the property is Skipton Building Society with a remaining term of ten years on the lease. The passing rent is £131,000 p.a.

The company has also exchanged contracts for the irrevocable acquisition of 78 - 82 English Street & 49 - 53 Blackfriars Street, Carlisle at a value of £1,710,000. The principle tenant is Clydesdale Bank with sixteen years remaining on the lease. The rental income from the property is £131,000 p.a.

 

Ismail Ghandour, CEO, commented, "These two acquisitions further enhance our already solid portfolio with long term income from two highly-regarded financial institutions. This is very welcome in the current uncertain economic climate"

 

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,

AQSE Growth Market Corporate Adviser

 

Tel: +44 (0) 20 3772 0021

Jon Isaacs / Nick Michaels

www.alfredhenry.com

 

 

SP Angel Corporate Finance LLP

Broker

Abigail Wayne / Rob Rees

 

Tel: +44 (0)20 3470 0470

www.spangel.co.uk 

 

 

 

 

Belvedere Communications

 

John West / Llew Angus

Tel: +44 (0) 20 3687 2756

 

 

ACF Equity Research

 

Christopher Nicholson / Amalia Barnoschi

Tel: +44 (0) 20 7558 8974


www.acfequityresearch.com


 



 

Notes to Editors

 

Ace Liberty & Stone Plc is a 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

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