Disposal

RNS Number : 0864E

Caffyns PLC

25 May 2012

 



PROPERTY DISPOSAL

Caffyns plc (the "Company") announces that it has exchanged contracts with Aliva Estates Limited for the sale of its freehold site at 24-26 Goring Road, Goring-by-Sea, West Sussex for £1.28 million. The ground floor of the site is let to Tesco Stores Limited above which there are four residential flats. The gain on sale is approximately £800,000. The consideration is payable in cash on 5 July 2012.

The proceeds will be applied in reducing the Company's borrowings and for reinvestment in the Company's business.

25 May 2012

Enquiries:

Simon Caffyn

Chief Executive

Mark Harrison

Finance Director

Telephone:  [phone]

 

END

 

 

DISEANSLAASAEFF