Disposal of Investment Property

RNS Number : 7169J

Caledonian Trust PLC

04 July 2011

 



Caledonian Trust PLC

("Caledonian")

Sale of Investment Property

Caledonian is pleased to announce that on 27 June 2011 it completed the disposal of 100 West Street, Glasgow for a cash consideration of £3.01m.  

100 West Street, Glasgow is a modern purpose-built motor dealership showroom, workshop and offices on a site extending to 1.4 acres and is let to Eastern Western Motor Group Limited until 2026.

The sale proceeds have been applied towards eliminating the loan facility with National Westminster Bank Plc.

Douglas Lowe, Chairman of Caledonian, commented: 

"We have now nearly completed our policy of disposing of investment assets when they 'mature'.   We are concentrating on development projects including those that have a significant planning gain, that have a low downside - high upside project potential."

For further information please contact:

Caledonian Trust plc
Douglas Lowe, Chairman and Chief Executive Officer	Tel: [phone]
Mike Baynham, Finance Director	Tel: [phone]
Execution Noble & Co Limited
John Riddell	Tel: [phone]
Harry Stockdale

 

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