Sale of Property
Updated : 07:03
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.
Summit Properties Limited
(the "Company")
Sale of Property for €225 million
19 June 2019
Summit Properties Limited, the German commercial property investment company, is pleased to announce that its subsidiary has signed a binding agreement for the disposal of a German office building for a consideration of €225.0 million, 7.9% above its €208.6 million valuation as at 31 December 2018.
The property's annual rental income as of 31 December 2018 totaled €4.62 million p.a., reflecting a rental yield of 2.1%.
Completion of the transaction is expected at the end of 2019.
For further information please contact:
Summit Properties Limited | Tel: +44 (0) 1481 700 300 |
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Zohar Levy - Managing Director |
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Itay Barlev (Braun) - Finance Director |
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Non-Executive Chairman | Tel: +44 (0) 20 7451 7050 |
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Harry Hyman |
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Carey, Company Secretary | Tel: +44 (0) 1481 700 300 |
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Chris Le Page / Nikolett Mezei |
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Liberum Capital Limited, Nominated Adviser and Joint Broker | Tel: +44 (0) 20 3100 2222 |
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Chris Clarke / Gillian Martin / Owen Matthews |
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Cenkos Securities, Joint Broker | Tel: +44 (0) 20 7397 8900 |
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Mark Connelly |
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Russell Kerr / Selwyn Jones (Broking) |
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