Press Release | 25 January 2016 |
('' Ace'' or the ''Company'') Purchase of Shildon House
Ace Liberty & Stone Plc (ISDX: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, today announces further additions to the Company's portfolio with the purchase of Shildon House, High Street, Tyne and Wear, Gateshead NE8 1AS.
Shildon House is prominently located in central Gateshead near the Gateshead Interchange, which hosts the Tyne and Wear underground Metro and bus interchange. The three levelled building consists of 17,195.77 square feet of office space and is fully let to the Secretary of State for the Environment under a 25 year lease that expires on 29 May 2022.
Ismail Ghandour, Chief Executive of Ace Liberty & Stone, commented: "Ace is delighted to announce the successful acquisition of Shildon House. The Company remains committed to deploying its cash resources in what we consider to be profitable investment opportunities in the commercial property market. The Board is confident that our considerable experience in managing regional commercial properties will help us create the best possible value for the property."
Ace Liberty & Stone Plc | |
Ivan Minter, Financial Director | Tel: +44 (0) 20 7201 8340 |
http://acelibertyandstone.com | |
Alfred Henry Corporate Finance Ltd, ISDX Corporate Adviser | |
Jon Isaacs / Nick Michaels | Tel: +44 (0) 20 7251 3762 |
www.alfredhenry.com | |
Hybridan LLP, Corporate Broker | |
Claire Noyce / Darshan Patel | Tel: +44 (0)203 764 2341 |
www.hybridan.com | |
Abchurch Communications | |
Quincy Allan / Canace Wong | Tel: +44 (0) 20 7398 7700 |
quincy.allan@abchurch-group.com | www.abchurch-group.com |
Ace Liberty & Stone Plc is a London-based property investment company with a diverse portfolio of properties located across the UK, currently including Leeds, Doncaster, Sunderland and Dudley. The Company locates commercial 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.
The London property market has seen considerable recovery since the 2008 financial crisis. However, in some UK regions price increases have started with the smaller properties, and are spreading towards larger properties.
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: http://acelibertyandstone.com/
Ace Liberty & Stone plc issued this content on 2016-01-25 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-25 07:08:06 UTC
Original Document: http://acelibertyandstone.com/Announcements/Shildon House announcement - RNS- 25 January 2016.pdf
