ACQUISITION OF INDUSTRIAL PROPERTY IN SELLY OAK

RNS Number : 6186M

Conygar Investment Company PLC(The)

30 April 2018

 

For immediate release

30 April 2018

THE CONYGAR INVESTMENT COMPANY PLC

ACQUISITION OF INDUSTRIAL PROPERTY IN SELLY OAK, BIRMINGHAM

The Conygar Investment Company PLC ("Conygar" or the "Company"), the property investment and development group, announces the purchase of Units 5-9 Selly Oak Industrial Estate, Elliott Road, Birmingham for £3.47 million, including costs.

The units consist of 50,000 square feet and are fully let to University Hospitals Birmingham NHS Foundation Trust and Revolution Gymnastics Limited, generating income of £215,500 per annum. The property is located in a predominantly residential area and has strong short to medium term redevelopment prospects.

Robert Ware, Chief Executive of Conygar commented:

"We are delighted to have secured this industrial property via an off market transaction in an affluent area of Birmingham. We intend to use our asset management skills to maximise the value of the site in the near future."

Enquiries:

The Conygar Investment Company PLC

Robert Ware: 020 7258 8670

Ross McCaskill: 020 7258 8670

Liberum Capital Limited (Nominated Adviser and Broker)

Richard Bootle: 020 3100 2222

Henry Freeman: 020 3100 2222

Temple Bar Advisory (Public Relations)

Alex Child-Villiers: 07795 425580

Will Barker: 020 7002 1080

 

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