Acquisition
06 Marzo 2009 - 9:36AM
UK Regulatory
TIDMBRG
RNS Number : 4354O
Braemar Group PLC
06 March 2009
Date 6 March 2009
Braemar Group plc ("Braemar")
Acquisition
Braemar, the AIM quoted innovative real estate fund and management
group, announces that it has today acquired the entire issued share capital of
Manchester Ground Rent Company Limited ("MGRC") for a cash consideration of
GBP95,000 and the assumption of MGRC's debt of GBP315,000.
MGRC owns the long leasehold of Castlegate, a block of 84 apartments in
Castlefield, Manchester. As long leaseholder, MGRC is entitled to receive ground
rents amounting to approximately GBP25,200 per annum, is responsible for
arranging the insurance of the building and collects service charges out of
which it pays the maintenance costs of the common parts.
For further information please contact:
Marc Duschenes, CEO, Braemar Group plc
Martin Robinson, Chairman, Braemar Group plc
Julie Serrage, Investor Relations, Braemar Group plc
Tel: 0161 929 4969
Alex Clarkson/Nick Cowles, Zeus Capital Limited
Tel: 0161 831 1512
Notes to Editor:
Established in 2001 and quoted on AIM in December 2005, Braemar Group plc,
through its two core divisions Braemar Securities Limited and Braemar Estates
(Residential) Limited, creates and manages a range of real estate investment
funds.
Braemar Securities
Braemar Securities specialises in fund raising for public and private companies.
It sponsors and operates a range of property investment funds for the Group and
for third parties. Braemar designs, promotes and manages innovative structured
financial products and promotes its funds to high net worth individuals, via
IFAs and other regulated entities.
Braemar Estates
Braemar Estates is responsible for the property management for Group funds and
also has a diverse portfolio of over 2,000 managed residential properties
throughout the UK. Braemar has expanded this service to private developers who
require effective apartment-block property management.
Website:
www.braemar-group.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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