Aukett Swanke Group PLC Property marketed for sale (8520O)
05 Ottobre 2023 - 1:01PM
UK Regulatory
TIDMAUK
RNS Number : 8520O
Aukett Swanke Group PLC
05 October 2023
5 October 2023
Aukett Swanke Group Plc
("Aukett Swanke", the "Company", or, together with its
subsidiaries, the "Group")
Property marketed for sale
Aukett Swanke (AIM: AUK), the group providing Smart Buildings,
Architectural and Design Services, notifies that it has instructed
Dutch & Dutch commercial property agents on the freehold sale
of The Old Torpedo Factory (the "Property") in west London.
The Property was acquired as part of the acquisition by the
Company of Torpedo Factory Group Limited ("TFG") in March 2023.
Much of the space was previously occupied by TFG's non-core Live
Events division. Under the terms of the April 2023 disposal of that
division, the purchaser continued to operate from the Property
until the end of August. Having now vacated, the Property is larger
than needed for the remaining interests of the Group and TFG
intends to take a leasehold interest in a more suitable property in
the area.
The Property was valued at GBP3.02m in the Group's unaudited
interim accounts as at 31 March 2023, and Dutch and Dutch have
advised the property should be marketed at this level. TFG has
borrowings of approximately GBP1.41m secured on the Property by way
of a mortgage which is currently due for repayment in February
2024.
A sale at the marketed valuation would allow the repayment of
the associated mortgage and provide funds for further expansion
without undue dilution for shareholders.
Contacts
Aukett Swanke Group Plc +44 (0) 20 7843 3000
Clive Carver, Chairman
Nick Clark, Chief Executive
Strand Hanson Limited, Financial and Nominated Adviser +44 (0)
20 7409 3494
Richard Johnson, James Bellman
Zeus Capital Limited, Broker +44 (0) 20 3829 5000
Simon Johnson, Louisa Waddell
Investor/Media + 44 (0) 7979 604 687
Chris Steele
About Aukett Swanke Group plc
Aukett Swanke Group has a strong foundation in architectural
services and is on a transformative journey to become a
London-listed provider of Smart Buildings and related services. ASG
are uniquely positioned to ensure the technical systems that run
modern premises are designed as an integral part of the structure,
from the outset.
For more information go to https://www.aukettswankeplc.com
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END
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(END) Dow Jones Newswires
October 05, 2023 07:01 ET (11:01 GMT)
Grafico Azioni Aukett Swanke (LSE:AUK)
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Grafico Azioni Aukett Swanke (LSE:AUK)
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