20 September 2007
20th September 2007
ITV SELLS NEWBURY PROPERTY
ITV plc has sold the freehold investment of a high-tech manufacturing and office
building on Turnpike Road in Newbury, Berkshire to Jaymar Estates for
approximately £10.3 million, reflecting a net initial yield of circa 7.9%.
The 114,760 sq ft (10,662 sq m) premises is currently let to film effects and
editing firm Quantel at an annual rent of £865,000 on a lease expiring in
September 2020. Quantel is a former subsidiary of ITV plc; ITV retained the
freehold of the building when Quantel was sold.
Mark Stretton, property director of ITV, comments: 'The disposal of this
non-operational investment property is part of our programme to dispose of
peripheral assets to raise funds for investment in ITV's core activities, as
explained to the market in the strategic review on 12 September.'
For further information please contact:
0844 881 8000
Brigitte Trafford, Group Communications Director
Jim Godfrey, Director of Corporate Affairs
James Tibbitts, Company Secretary
Georgina Blackburn, Head of Investor Relations
Tulchan Communications Group
0207 353 4200
This information is provided by RNS
The company news service from the London Stock Exchange